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​​Chicagoland Industrial Demand Heats Up​

Gregory Rogalla • 3/1/2023
Chicago’s industrial demand is heating up. Explore the market’s actualized starting rents pre- vs -post-covid.


Industrial demand is heating up in the Chicagoland area. Our latest interactive report reveals the market’s actualized start rents pre- vs post-pandemic for Chicago’s largest industrial submarkets. 

What’s an actualized rent? It is the actual rent cost paid under a lease agreement as opposed to the listing rent price. 


  • Following record breaking demand for industrial space, actualized starting rents for newer product have increased 27.8% since 2017 to $6.48 psf. Asking rates have similarly increased, up 21.6% over the same period.  
  • Since 2020, all major submarkets have seen substantial growth in actualized starting rents.
  • Submarkets with notable increases in lease rates include Northern Fox Valley and Southern DuPage, up 59.1% and 45.2%, respectively. 
  • The O’Hare submarket commands some of the highest rates within the market, up 23.7% to $9.19 psf. 
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