Schaumburg Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $20.97 2023 Avg. Asking Rent
  • -1.51% Y-o-Y Avg. Asking Rent Change
  • 20.49% 2023 Office Vacancy Rate
  • $99.7M2023 Total Office Sales
  • $60.75Avg. Sale Price/SF

Schaumburg office price per square foot in 2023 was $20.97 on average. This marked a -1.51% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.49% across all asset classes combined. The 8 transactions that closed here throughout 2023 amounted to a total sale volume of $99.7M. Schaumburg office space commanded an average sale price per square foot of $60.75.

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

Schaumburg, IL Office Asking Rents by Class

Office Spaces for Rent in Illinois

Schaumburg Office Sale Price per SF

  • $60.752023 Avg. Price per SF
  • 25.71%Y-o-Y Avg. PpSF Change
  • $99.7M2023 Office Sales Volume
  • 82023 Number of Transactions

Schaumburg, IL Sale Price per SF Trend

  • Schaumburg Avg. Sale Price per SF in 2023$60.75
  • Illinois Avg. Sale Price per SF in 2023$109.20
Schaumburg office space cost in 2023 marked a +25.71% change compared to the previous year. The sale price for office space in Schaumburg averaged $60.75 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Illinois average office sale price during the same time period was $109.20 per square foot.

2023 Office Sales Volume

  • Schaumburg, IL Total Office Sales Volume in 2023 $99.7M
  • Schaumburg, IL Total Number of Office Sales Closed in 2023 8
A total of 8 deals closed on the Schaumburg office market in 2023, adding up to a yearly sales volume of $99.7M. Notably, the largest transaction on the market saw Windy Point I change hands for $8,000,000 on 1/26/2023.
Data provided by Commercial Edge

Coworking Spaces in Illinois

2023 Office Construction in Schaumburg, IL

Largest Office Properties Recently Completed in Schaumburg
Office building Address SF Completed
1125 Remington Rd., 1125 Remington Rd.,, 60173 3,515 2022
Zurich North America Headquarters 1301 West Algonquin Road, 60196 783,800 2016
3,364 SF Office/Medical Suite For Lease- Downtown Schaumburg 1031 - 1041 E. Woodfield Road, 60173 19,542 2005
Woodfield Preserve II 20 North Martingale Road, 60173 305,586 2001
Windy Point II 1600 McConnor Pkwy, 60173 300,686 2001
Medical Practice for Sale 1301 N Plum Grove Road, 60173 4,896 2001
Medical Practice for Sale 1301 N Plum Grove Road, 60173 4,896 2001
Woodfield Preserve I 10 North Martingale Road, 60173 304,876 2000
Parkway Corporate Place 915 National Pkwy, 60173 161,741 2000
400-444 E State Parkway 400-444 E State Parkway, 60173 105,007 1997

Worth noting among recent office completions on the Schaumburg market is 1125 Remington Rd.,, which is currently the largest new office development in the city, at 3,515 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 Schaumburg 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.