Insights
Illinois
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Apartment
Average Vacancy Rate 5.4%
- No change since Q1 2020.
- Highest level since year-end 2010.
- Expected to finish 2020 at 6.7%.
Distribution / Warehousing
Average Vacancy Rate 13.1%
- Drifted upward by 30 basis points.
- Expected to finish 2020 at 14.7%.
Flex / R&D
Average Vacancy Rate 12.8%
- Drifted upward by 10 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2020 at 14.2%.
Office
Average Vacancy Rate 17.7%
- Drifted downward by 30 basis points.
- Expected to finish 2020 at 19.7%.
Retail
Average Vacancy Rate 12.2%
- No change since Q1 2020.
- Lowest level since Q2 2016.
- Expected to finish 2020 at 14.6%.
RENT
Apartment
Average Asking Rent $1,516
- Down 0.9% from Q1 2020.
- Expected to finish 2020 at $1,471.
Distribution / Warehousing
Average Asking Rent $5.31
- Down 0.2% from Q1 2020.
- Expected to finish 2020 at $5.03.
Flex / R&D
Average Asking Rent $8.42
- Up 0.4% from Q1 2020.
- Expected to finish 2020 at $7.90.
Office
Average Asking Rent $32.23
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $31.24.
Retail
Average Asking Rent $20.48
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $19.29.
VACANCY
Apartment
Average Vacancy Rate 4.6%
- Drifted upward by 20 basis points.
- Expected to finish 2020 at 6.2%.
Distribution / Warehousing
Average Vacancy Rate 11.4%
- Drifted downward by 10 basis points.
- Expected to finish 2020 at 13.3%.
Flex / R&D
Average Vacancy Rate 12.7%
- Drifted upward by 40 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2020 at 14.5%.
Office
Average Vacancy Rate 17.7%
- Drifted upward by 30 basis points.
- Highest level since Q1 2014.
- Expected to finish 2020 at 19.5%.
Retail
Average Vacancy Rate 12.5%
- No change since Q1 2020.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 15.3%.
RENT
Apartment
Average Asking Rent $994
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $978.
Distribution / Warehousing
Average Asking Rent $4.24
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $4.06.
Flex / R&D
Average Asking Rent $7.54
- Second lowest rent growth in the nation, higher than only San Francisco.
- Expected to finish 2020 at $7.05.
Office
Average Asking Rent $22.16
- Down 0.2% from Q1 2020.
- Expected to finish 2020 at $21.53.
Retail
Average Asking Rent $15.88
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $14.67.