2023 Office Space Rent & Sales
- $19.60 2023 Avg. Asking Rent
- 37.96% 2023 Office Vacancy Rate
Vernon Hills office price per square foot in 2023 was $19.60 on average. The local office market recorded an average vacancy rate of 37.96% 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
Vernon Hills, IL Office Asking Rents by Class
Office Spaces for Rent in Illinois
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| Office building | Address | SF | Completed |
|---|---|---|---|
| 440 North Fairway Drive | 440 North Fairway Drive, 60061 | 113,000 | 2024 |
| Continental Executive Parke | 400 N Lakeview Pky, 60061 | 46,386 | 2000 |
| Hawthorn Business Park - 3 Hawthorn Pkwy | 3 Hawthorn Pkwy, 60061 | 85,687 | 1990 |
| Continental Executive Parke | 565 Lakeview, 60061 | 86,122 | 1989 |
| One Hawthorn Place | 175 East Hawthorn Pkwy, 60061 | 84,779 | 1986 |
Worth noting among recent office completions on the Vernon Hills market is 440 North Fairway Drive, which is currently the largest new office development in the city, at 113,000 square feet.
See reports for other markets
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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 Vernon Hills 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.