Naperville Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $23.22 2023 Avg. Asking Rent
  • 2.26% Y-o-Y Avg. Asking Rent Change
  • 17.09% 2023 Office Vacancy Rate

Naperville office price per square foot in 2023 was $23.22 on average. This marked a +2.26% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.09% 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

Naperville, IL Office Asking Rents by Class

2023 Office Vacancy Rates in Naperville

Submarket Asking Rents Vacancy Rates
Western East-West Corridor $23.11 21.08%
Bolingbrook $16.43 16.92%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Naperville market was 17.09% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Naperville was 16.92% in the Bolingbrook submarket, while the highest office vacancy in the market was 21.08%, recorded in Western East-West Corridor.

Office Spaces for Rent in Illinois

Coworking Spaces in Illinois

Largest Office Properties Recently Completed in Naperville
Office building Address SF Completed
Waterside Center 2764 Aurora Ave, 60540 52,101 2004
Main Street Promenade 55 South Main Street, 60566 181,600 2003
Park Place Office Condominium - 1730 Park Place 1730 Park Place, 60563 67,380 2002
1415 West Diehl Road 1415 West Diehl Road, 60563 819,513 2001
HUB1415 1415 W Diehl Road , 60563 721,936 2001
Westings Corporate Center 2056 Westings Avenue, 60563 176,631 2001
Washington Pointe 535 E Diehl Road, 60563 163,956 1999
Naperville 95th Street MOB 1012 95th St, 60564 18,938 1999
1770 Park St 1770 Park St, 60563 42,000 1998
1770 Park St 1770 Park St, 60563 42,000 1998

Worth noting among recent office completions on the Naperville market is Waterside Center, which is currently the largest new office development in the city, at 52,101 square feet.

Data provided by Commercial Edge

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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 Naperville 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.