2023 Office Space Rent & Sales
- $28.00 2023 Avg. Asking Rent
- -1.95% Y-o-Y Avg. Asking Rent Change
- 45.66% 2023 Office Vacancy Rate
Skokie office price per square foot in 2023 was $28.00 on average. This marked a -1.95% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 45.66% 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
Skokie, IL Office Asking Rents by Class
Office Spaces for Rent in Illinois
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2023 Office Construction in Skokie, IL
| Office building | Address | SF | Completed |
|---|---|---|---|
| Trophy Commercial Redevelopment Situated Within a Prestigious 96% Leased Science + Technology Campus | 8030 Lamon Avenue, 60077 | 135,851 | 2019 |
| Harmswood Office Center | 5750 Old Orchard Road, 60077 | 86,064 | 1989 |
| 5215 Old Orchard Road | 5215 Old Orchard Road, 60077 | 210,126 | 1987 |
| 5250 Old Orchard Road | 5250 Old Orchard Road, 60077 | 400,000 | 1986 |
| 5202 Old Orchard Road | 5202 Old Orchard Road, 60077 | 349,814 | 1986 |
| Old Orchard Towers | 5202 Old Orchard Road, 60077 | 349,814 | 1981 |
| 4709-11 Golf Road | 4709 Golf Road, 60076 | 294,073 | 1981 |
| 8930 Gross Point Road | 8930 Gross Point Road, 60077 | 50,141 | 1980 |
| 8001 Lincoln Avenue | 8001 Lincoln Avenue, 60077 | 110,000 | 1974 |
| Move-In-Ready Office Suites | 5301 Dempster St, 60077 | 16,790 | 1974 |
Worth noting among recent office completions on the Skokie market is Trophy Commercial Redevelopment Situated Within a Prestigious 96% Leased Science + Technology Campus, which is currently the largest new office development in the city, at 135,851 square feet.
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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 Skokie 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.