Commercial Lease Cost in Illinois
Updated July 2026 · Illinois commercial real estate rates
Calculate Commercial Lease Cost in Illinois
Commercial Lease Rates in Illinois
| Space Type | /sqft/yr | 1,000 sqft/mo | National |
|---|---|---|---|
| Office A | $69.00 | $5,750 | $60/sqft |
| Office B | $32.20 | $2,683 | $28/sqft |
| Retail Prime | $40.25 | $3,354 | $35/sqft |
| Retail Secondary | $20.70 | $1,725 | $18/sqft |
| Warehouse | $13.80 | $1,150 | $12/sqft |
| Industrial | $11.50 | $958 | $10/sqft |
Commercial Real Estate in Illinois
Chicago's Loop Class A office commands premium rates ($40–$65/sqft/yr) but high downtown vacancy post-2020 has created strong tenant negotiating leverage. Suburban Chicagoland (Oak Brook, Schaumburg, Rosemont) offers Class A space at $22–$35/sqft/yr. Industrial space in the I-55/I-294 corridor is among the most active warehouse markets in the Midwest.
Key Lease Terms to Understand
- • NNN: Tenant pays base rent + property taxes + insurance + maintenance
- • CAM charges: Common area maintenance; add $3–$8/sqft/yr typically
- • Rent escalations: Typically 2–4% annually built into lease
- • TI allowance: Tenant improvement allowance from landlord for build-out
- • Personal guarantee: Landlords often require for small businesses
Negotiation Tips
- • Get a tenant's broker — they're paid by the landlord, not you
- • Negotiate free rent periods (1–3 months is common in soft markets)
- • Push for higher TI allowance vs. lower rent
- • Include a subletting clause for flexibility
True Total Occupancy Cost in Illinois — NNN Lease
NNN leases list only base rent — but total occupancy cost includes CAM charges, utilities, and insurance. Here's the real annual cost for 1,000 sqft in Illinois.
| Space Type | Base Rent/yr | +CAM/yr | Total/yr |
|---|---|---|---|
| Office A | $69,000 | +$5,750 | $74,750 |
| Office B | $32,200 | +$5,750 | $37,950 |
| Retail Prime | $40,250 | +$4,600 | $44,850 |
| Retail Secondary | $20,700 | +$4,600 | $25,300 |
| Warehouse | $13,800 | +$1,725 | $15,525 |
| Industrial | $11,500 | +$1,725 | $13,225 |
Based on 1,000 sqft. CAM includes property tax, insurance, and maintenance pass-throughs. 3-year total assumes 3.5% annual escalation. Add utilities ($1.50–$3.50/sqft/yr) for full occupancy cost.
Find Commercial Space in Illinois
Connect with commercial real estate brokers and search available spaces in Illinois.
Search Commercial Space →