Rents Climb in Local Class A Office in Q2 2015

tenant approvedThe Western suburban office market remains a tenant’s market, but office rents are increasing in Class A properties.

Copied below are the rent changes I’ve seen in the second quarter of 2015.

Please let me know if I can answer any questions about these properties or the local office market in general.  I help businesses find commercial office space and negotiate commercial lease and purchase agreements.  For more info, contact me at troy@goldengroupcre.com or 630.805.2463.

For more on the benefits or retaining a tenant rep broker, click here.  For more on relocating your office, click How to Find the Right Office Location in 10 Steps.

Building Address City New Rate* Previous Rate*
Esplanade 1901 Butterfield Rd  Downers Grove  $29.79  $29.29
Olympian Office Center 4343 Commerce Ct Lisle  $21.50  $19.50
Corporate West I 4300 Commerce Ct  Lisle  $29.15  $27.15
Arboretum Lakes 701-1001 Warrenville Rd  Lisle  $24.26  $24.01
iMED Campus 1331 W 75th St  Naperville  $31.50  $29.50
Naperville Medical Offices 1020 E Ogden Ave  Naperville  $33.73  $31.73
One Energy Center 40 Shuman Blvd  Naperville $22.74 $22.22
Commerce Plaza 2001-2021 Spring Rd  Oak Brook  $28.69  $28.19
 Oak Brook Regency Towers  1415/1515 W 22nd St  Oak Brook  $27.39  $27.14
One Lincoln Centre  18W140 Butterfield Rd Oakbrook Terrace  $28.90  $27.65
One Oakbrook Terrace  1 Oakbrook Ter Oakbrook Terrace  $24.00  $23.50
Oakbrook Terrace Tower  1 Tower Ln Oakbrook Terrace  $28.86  $28.61
Westbrook Corporate Center  1-4 Westbrook Corporate Ctr  Westchester  $27.20  $26.20

*Landlord’s initial asking rent rate ($/sf per yr) for new tenants, adjusted modified gross estimate

 

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