What Commercial Space Rents for in North Cook County, Illinois

What each type of space rents for

The first column is my working range, all-in. The second is the median rent quoted on spaces that leased in the five towns over the last two years, with the number of leases behind it; the record does not say whether that was the asking or the starting rent. A modified gross rent includes property tax and most building costs; a net or triple net (NNN) rent does not.

Retail: the location sets the rent

In retail, location decides most of the rent. My all-in ranges as of October 2026, per square foot per year:

The median rent quoted on retail spaces that leased in the five towns over the last two years was $29.79 modified gross (6 leases, 5 of them in Arlington Heights, 3 in one building) and $16.00 NNN (7 leases). The NNN figure still has taxes and building expenses to add.

Compare two quotes on the same basis

A triple net (NNN) rent leaves property tax, common-area maintenance and insurance to be paid on top. A modified gross rent folds most of them in. A lower NNN number is not a cheaper lease until those costs are added back. The Commercial Lease Rate Estimator puts two quotes on the same basis, and the NNN Lease Cost Estimator adds up the full cost of a triple net lease.

Where the leases are, town by town

Leases on record in each town over the last two years, by property type. The counts hold up even where the rents are thin.

The busiest town for each type: industrial, Elk Grove Village (179 of 329); flex, Northbrook (44 of 89); office, Northbrook (136 of 280); medical office, Arlington Heights (84 of 103); retail, Arlington Heights (54 of 168). The Arlington Heights total includes 5 leases of other property types.

Town by town, the rents are thin. Where one town has enough leases on one basis for a median: Arlington Heights medical office: $17.50 modified gross (5 leases); Arlington Heights retail: $31.58 modified gross (5 leases); Elk Grove Village industrial: $12.00 modified gross (7 leases); Northbrook office: $22.00 modified gross (5 leases). The other towns and types have too few rents for a median.

Each town has its own page with sale prices, zoning and my deals there or nearby: Arlington Heights, Elk Grove Village, Northbrook, Palatine, Wheeling.

Most leases do not show a rent

Of 974 leases on record in the five towns over the last two years, 84 showed a rent: about 1 in 12. The bigger the space, the quieter the deal. Of 59 industrial leases of 25,000 SF or more, 4 showed a rent; of 3 office leases that size, 2 did. Much of the market is small space: 40% of industrial leases, 90% of office leases and 84% of retail leases were under 5,000 SF. Rent on a larger building comes from recent negotiations, not from a published number.

How these figures are put together

The ranges are my own read of the market as of October 2026, the same ones I use for Lake County. The lease figures are lease transactions on record in Arlington Heights, Northbrook, Palatine, Wheeling and Elk Grove Village from October 2024 to September 2026: 974 leases, each counted once. Medians, not averages. Modified gross, net, NNN and full-service rents are kept apart, and a median resting on too few leases is left off. The rents are the rates quoted on spaces that leased; the record does not say whether each one was the asking or the starting rent, and the final rent can be lower once free rent and build-out allowances are counted. This is market guidance, not an appraisal or a quote for a specific building.

Common questions

How much does warehouse space rent for in north Cook County, IL?

About $11 to $14 per square foot per year all-in for most industrial and warehouse space in Arlington Heights, Northbrook, Palatine, Wheeling and Elk Grove Village, as of October 2026. Over the last two years, the median rent quoted on industrial spaces that leased in the five towns was $12.50 modified gross (15 leases).

What does industrial space rent for in Elk Grove Village?

Elk Grove Village is the busiest industrial town of the five, with 179 of the 329 industrial leases on record over the last two years. The median rent quoted on its industrial spaces that leased was $12.00 modified gross (7 leases). Jason Bitton's all-in range for industrial space across the five towns is about $11 to $14 per square foot per year.

What does office space rent for in north Cook County, IL?

About $17 to $20 per square foot per year all-in. The median rent quoted on office spaces that leased in the five towns over the last two years was $20.25 modified gross (8 leases, 5 of them in Northbrook). Medical office runs about $23.50 all-in.

How much is retail rent per square foot in north Cook County?

It depends on the location: about $15 to $17 for older strip centers, $20 to $24 for nicer shopping centers, $25 to $32 for locations national retailers choose, $33 to $46 for premium locations and outdoor malls, and $40 to $65 for the newest high-end outdoor centers, all-in.

What is the difference between gross and NNN rent?

A triple net (NNN) rent leaves property tax, common-area maintenance and insurance to be paid on top of the rent. A modified gross rent includes most of them. Compare two quotes on the same basis before comparing the numbers.

How many commercial leases were done in Arlington Heights, Northbrook, Palatine, Wheeling and Elk Grove Village?

974 leases on record from October 2024 to September 2026: Arlington Heights 222, Elk Grove Village 230, Northbrook 265, Palatine 154 and Wheeling 103. About 1 in 12 showed a rent.

How do I find out what my space would lease for?

Send Jason Bitton the address, size and condition of the space. He will give you a rent range based on what is leasing near it now, free and confidential. Call (847) 858-2909.