Northbrook Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $27.82 2023 Avg. Asking Rent
  • 11.01% 2023 Office Vacancy Rate

Northbrook office price per square foot in 2023 was $27.82 on average. The local office market recorded an average vacancy rate of 11.01% 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

Northbrook, IL Office Asking Rents by Class

2023 Office Vacancy Rates in Northbrook

Submarket Asking Rents Vacancy Rates
North Shore - South $29.26 21.45%
North Shore - North $21.33 25.81%
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 Northbrook market was 11.01% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Northbrook was 21.45% in the North Shore - South submarket, while the highest office vacancy in the market was 25.81%, recorded in North Shore - North.

Office Spaces for Rent in Illinois

Coworking Spaces in Illinois

Largest Office Properties Recently Completed in Northbrook
Office building Address SF Completed
Northbrook Executive Suites 1363 Shermer Road, 60062 31,500 2006
Corporate Center of Northbrook - 1033 Skokie Blvd 1033 Skokie Blvd, 60062 128,670 2001
Corporate Center of Northbrook - 1101 Skokie Blvd 1101 Skokie Blvd, 60062 127,670 2000
111 Pfingsten Rd 111 Pfingsten Rd, 60062 125,000 1990
4201 Lake Cook Rd 4201 Lake Cook Rd, 60062 66,773 1989
Edens Corporate Center 630-650 Dundee Road , 60062 187,509 1988
2100 Sanders Rd 2100 Sanders Rd, 60062 106,167 1987
Boulevard 40 40 Skokie Blvd, 60062 105,972 1987
60 Revere Drive 60 Revere Drive, 60062 122,219 1986
60 Revere Drive 60 Revere Drive, 60062 116,000 1986

Worth noting among recent office completions on the Northbrook market is Northbrook Executive Suites, which is currently the largest new office development in the city, at 31,500 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 Northbrook 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.