2023 Office Space Rent & Sales
- $23.05 2023 Avg. Asking Rent
- 2.79% Y-o-Y Avg. Asking Rent Change
- 25.58% 2023 Office Vacancy Rate
Elgin office price per square foot in 2023 was $23.05 on average. This marked a +2.79% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 25.58% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Illinois Class A & A+ Office Space$33.01
- Illinois Class B Office Space$25.97
- Illinois Class C Office Space$28.31
Elgin, IL Office Asking Rents by Class
Office Spaces for Rent in Illinois
Coworking Spaces in Illinois
- Chicago Coworking Space
- Nashville Coworking Space
- Charlotte Coworking Space
- Indianapolis Coworking Space
- Cincinnati Coworking Space
- Columbus Coworking Space
- Raleigh Coworking Space
- Kansas City Coworking Space
- Detroit Coworking Space
- Alexandria Coworking Space
- Memphis Coworking Space
- St. Louis Coworking Space
- Louisville Coworking Space
- Omaha Coworking Space
- Durham Coworking Space
- Milwaukee Coworking Space
- Cleveland Coworking Space
- Ann Arbor Coworking Space
- Grand Rapids Coworking Space
- Chattanooga Coworking Space
- Madison Coworking Space
| Office building | Address | SF | Completed |
|---|---|---|---|
| Randall Medical Pavilion | 1600 North Randall Road, 60123 | 99,903 | 2009 |
| Randall Point Executive Center | 2130 Point Blvd, 60123 | 39,329 | 2005 |
| Fletcher Drive Medical Center | 745 Fletcher Drive, 60123 | 39,734 | 2004 |
| Randall Point Executive Center - 2150 Point Blvd | 2150 Point Blvd, 60123 | 46,206 | 2002 |
| 820 Tollgate Road | 820 Tollgate Road, 60123 | 920 | 2002 |
| 2205 Point Blvd | 2205 Point Blvd, 60123 | 60,000 | 2001 |
| 1530 N Randall Rd Suites 120 & 200 | 1530 N Randall Rd Suites 120 & 200, 60123 | 19,034 | 1999 |
| 1000 N Randall Rd | 1000 N Randall Rd, 60123 | 509,340 | 1993 |
| 1000 N Randall Rd | 1000 N Randall Rd, 60123 | 509,340 | 1993 |
| Elgin Chase Campus | 2500 Westfield Drive, 60124 | 514,313 | 1989 |
Worth noting among recent office completions on the Elgin market is Randall Medical Pavilion, which is currently the largest new office development in the city, at 99,903 square feet.
See reports for other markets
- Chicago Office Rent Price
- Naperville Office Rent Price
- Schaumburg Office Rent Price
- Des Plaines Office Rent Price
- Arlington Heights Office Rent Price
- Northbrook Office Rent Price
- Oak Brook Office Rent Price
- Charlotte Office Rent Price
- San Francisco Office Rent Price
- Washington Office Rent Price
- San Antonio Office Rent Price
- Houston Office Rent Price
- Austin Office Rent Price
- Manhattan Office Rent Price
- Dallas Office Rent Price
- Denver Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Elgin commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.