Markets / O’Hare
O’Hare Office Market
The O’Hare market offers the deepest concession packages we track anywhere in the Chicago area. As of October 2026, about 20% of the 17.9 million SF of office space around the airport sat vacant, and about 31% in the Chicago-side buildings at the Kennedy Expressway and Cumberland Avenue. No new office construction is underway. In the transactions we track and negotiate, Class A space leases for about $38 to $43 per SF gross and Class B for $25 to $31, with 1 to 2 months of free rent per year of term and improvement allowances of $45 to $75 per SF for full build-outs on 5-year-plus terms. Tenant Advisors represents only tenants.
What is the O’Hare office market like in 2026?
Vacancy is high across the airport corridor, and highest on the Chicago side of the airport and in older Class B buildings. That is where tenants have the most leverage.
| October 2026 | O’Hare market |
|---|---|
| Office inventory | About 17.9 million SF |
| Overall vacancy | About 20%, up over the past year |
| Kennedy / Cumberland vacancy | About 31% in 24 Chicago-side buildings |
| Class B vacancy | About 24% in older Class B buildings |
| Net absorption, last 12 months | Negative |
| New construction underway | None |
| Sublease space available | About 230,000 SF in 16 buildings |
| CTA rail | Blue Line at Rosemont, Cumberland, and O’Hare |
| Lease terms we are negotiating | Class A | Class B |
|---|---|---|
| Rent, gross per SF | About $38 to $43 | About $25 to $31 |
| Free rent | 1 to 2 months per year of term | 1 to 2 months per year of term |
| Improvement allowance | $45 to $75 per SF for full build-outs on 5-year-plus terms | $45 to $75 per SF for full build-outs on 5-year-plus terms |
| Free rent on a 5-year lease | Typically 5 to 10 months | Typically 5 to 10 months |
Rents and concessions reflect the O’Hare transactions Tenant Advisors tracks and negotiates as of October 2026. Results vary by building, size, term, and credit.
Why is O’Hare office vacancy so high?
Tenants are still giving back space around the airport, and nothing new is being built to replace the older buildings.
Occupancy is still shrinking
About 20% of the market’s 17.9 million SF is vacant, up over the past year on negative absorption. All four cities we track lost occupied space, led by the Chicago side at about 187,000 SF.
The Chicago side has the biggest blocks
About 31% of the space in the 24 buildings at Kennedy and Cumberland is vacant, up from about 26% a year ago. The Bryn alone has about 430,000 SF available.
Older Class B is losing tenants
About 24% of older Class B space is vacant, and much of the market dates to the 1980s, so dated buildings are competing hardest for tenants.
No new supply, but more sublease space
No new office space is under construction, while about 230,000 SF of sublease space is listed in 16 buildings, roughly half of it already vacant.
What does the 2026 market mean for your lease?
It is a tenant’s market
With about one in five square feet empty, no new supply, and occupancy still shrinking, landlords around the airport are offering extended free rent and substantial build-out dollars to credit tenants.
The Chicago side has the most leverage
About 31% of the space in the 24 buildings at the Kennedy and Cumberland interchange is vacant, up from about 26% a year ago. Tenants there can push hardest on rate and concessions.
Class B landlords are competing hard
Vacancy in older Class B buildings has climbed to about 24%. Those landlords are trading free rent, above-market improvement allowances, and flexible terms for occupancy.
Renewals should be priced against the market
Your landlord knows what empty floors cost. A renewal in this market should include free rent and an improvement allowance, not just a rate increase. Tenants who run a competitive process across several buildings get the best terms.
Which cities does the O’Hare market include?
- Rosemont: River Road and Higgins Road next to the airport, with the Rosemont Blue Line station.
- Chicago O’Hare: the Kennedy Expressway and Cumberland Avenue buildings on Chicago’s side of the airport, near the Cumberland Blue Line station.
- Des Plaines: the Touhy Avenue corridor and downtown Des Plaines on Metra, minutes from the airport.
- Park Ridge: Uptown Park Ridge along Northwest Highway, on the Metra Union Pacific Northwest line.
Who leases office space here?
The tenants most active in the O’Hare market right now are:
Advantages and tradeoffs
- Direct access to O’Hare International Airport and the I-90, I-294, and I-190 interchange, a fit for teams that travel and clients who fly in.
- The only suburban office market on CTA rail, with Blue Line service downtown.
- Tradeoff: much of the inventory dates to the 1980s, so building quality and landlord reinvestment vary widely.
- Tradeoff: away from the Blue Line and Metra stations, most buildings are car-dependent.
Which O’Hare buildings should tenants know?
Ten properties that shape pricing around the airport, across Rosemont, Chicago O’Hare, Des Plaines, and Park Ridge. Sizes are rounded.
Riverway
Three towers, about 885,000 SF, built 1987 to 1989, next to the Rosemont Blue Line station. It holds the largest block of available space in the O’Hare suburbs and is being marketed for sale.
One O’Hare Centre
About 380,000 SF, built in 1990. The largest single multi-tenant office building in Rosemont, and fully leased.
Presidents Plaza
Two Class A towers, about 837,000 SF, built in 1980 and 1983, near the Cumberland Blue Line station. Plaza II is 87% leased. Plaza I is 54% leased, with about 192,000 SF available, including full floors of about 25,000 SF.
Triangle Plaza
Two towers, about 714,000 SF, built in 1985 and about 95% leased. The tightest Class A space at Kennedy and Cumberland, so openings move quickly.
O’Hare Plaza
A four-building campus, about 743,000 SF, built 1971 to 1985. 8745 and 8755 are more than 93% leased. 8735 is 47% leased, with about 56,000 SF available.
The Bryn
Three buildings, about 645,000 SF, built in 1981, with about 430,000 SF available. 8410 holds about 212,000 SF, the largest single block at Kennedy and Cumberland.
International Tower
About 310,000 SF of Class A space, built in 1968, about 49% leased with roughly 136,000 SF available.
O’Hare Exchange
Two buildings, about 350,000 SF, built in 1984 and 1986. 5440 is 69% leased and 5450 is 31% leased, with about 178,000 SF available between them.
1350 Touhy Plaza
About 244,000 SF, built in 1984. The largest office building in Des Plaines, anchoring a Touhy Avenue corridor of more than 750,000 SF of office space minutes from the airport.
Park Ridge Plaza
Two buildings, about 184,000 SF, in Uptown Park Ridge near Metra, holding the most available space in Park Ridge.
We don’t represent any of these landlords. For building-by-building detail at Kennedy and Cumberland, see Chicago O’Hare office space. Ask us which buildings fit your size, budget, and term, and what they are actually conceding.
How do the O’Hare cities compare?
Multi-tenant office buildings of 5,000 SF and larger in each city we cover. Click a city for building-by-building data.
| City | Vacancy | A year ago | 12-month net absorption (SF) | Inventory | Sublease space |
|---|---|---|---|---|---|
| Chicago O’Hare | 30.5% | 26.3% | −187,000 | 4.5 million SF | 76,200 SF |
| Rosemont | 21.7% | 18.6% | −124,000 | 4.1 million SF | 70,900 SF |
| Des Plaines | 31.1% | 27.1% | −91,800 | 2.3 million SF | 74,700 SF |
| Park Ridge | 26.6% | 17.7% | −75,500 | 850,000 SF | 10,200 SF |
Tenant Advisors market tracking, October 2026. City figures cover multi-tenant buildings only, so they run higher than the market-wide vacancy above.
Where is the sublease office space in the O’Hare market?
About 230,000 SF across 16 buildings, about 1.3% of the market’s 17.9 million SF. Roughly half of it is vacant now.
| Area | Sublease SF | Largest block |
|---|---|---|
| Chicago (O’Hare side) | About 76,000 | 36,200 SF, Presidents Plaza II |
| Des Plaines | About 75,000 | 61,800 SF, 1350 Touhy Plaza |
| Rosemont | About 71,000 | 37,100 SF, 5505 Pearl Street |
| Park Ridge | About 10,000 | — |
Sublease space usually comes built out and often furnished, with a shorter remaining term, and typically prices below direct space.
What do O’Hare landlords say about negotiating against us?
“I worked opposite Tom on a Rosemont office relocation for one of his clients. Tom was a strong advocate for his client throughout — tough but fair in negotiations and always professional.”
— Norm M., landlord-side broker, Google review · More client results
Why it matters that we only represent tenants
Many of the brokers working the O’Hare market also lease buildings for landlords here. Tenant Advisors has represented only tenants since 2004 and doesn’t own or manage office buildings, so every building around the airport is on the table and every landlord is someone we negotiate against.
Frequently asked questions
What is the office vacancy rate in the O’Hare market?
As of October 2026, about 20% of office space in the O’Hare market was vacant, and about 31% in the Chicago-side buildings at the Kennedy Expressway and Cumberland Avenue interchange. Older Class B buildings are about 24% vacant. No new office space is under construction. Figures are rounded Tenant Advisors Market Data.
How much does office space cost near O’Hare?
In the transactions we track and negotiate as of October 2026, Class A office space in the O’Hare market leases for about $38 to $43 per SF gross and Class B for about $25 to $31. Building quality, size, term, and credit move the final number.
What concessions can office tenants get in the O’Hare market?
Typically 1 to 2 months of free rent per year of lease term, or 5 to 10 months on a 5-year lease, plus improvement allowances of $45 to $75 per SF for full build-outs on 5-year-plus terms. Tenants who create competition between buildings get the upper end.
How much sublease office space is available in the O’Hare market?
About 230,000 SF across 16 O’Hare-market buildings, roughly half of it vacant now. The largest blocks are at 1350 Touhy Plaza in Des Plaines, 5505 Pearl Street in Rosemont, and Presidents Plaza II in Chicago.
Which O’Hare city has the lowest office vacancy?
Rosemont, at about 22% in the multi-tenant buildings we track. Des Plaines has the highest, at about 31%, close to the Chicago-side buildings at Kennedy and Cumberland, and Park Ridge rose the most over the past year, from about 18% to about 27%.
Which O’Hare office buildings are near the CTA Blue Line?
Riverway sits next to the Rosemont Blue Line station, and the Presidents Plaza, Triangle Plaza, and O’Hare Plaza buildings are near the Cumberland station. The O’Hare market is the only suburban Chicago office market on CTA rail.
Is it a good time to renew or relocate near O’Hare?
Yes. With about 20% of space vacant, no new supply, and about 230,000 SF of sublease space available, landlords are competing for tenants. Start 12 to 18 months before your lease expires and run a competitive process across several buildings.
Which cities are in the O’Hare office market?
Rosemont, Des Plaines, Park Ridge, and the O’Hare side of Chicago along the Kennedy Expressway.
Updated October 17, 2026, with October 2026 Tenant Advisors Market Data. Written by Tom Koelzer and Dave Ven Horst, co-founders of Tenant Advisors, Inc., in Chicago office leasing since 1986 and 1985 and tenant-only since 2004. Our office: 1515 E. Woodfield Road, Suite 116, Schaumburg, IL 60173.
CITIES WE COVER
O’Hare Market Cities
Don’t see your city?
We cover offices across Chicago and the suburbs. Tell us where you want to be and we will send you a building survey of every option that fits, at no cost to tenants.
Request a Building SurveyDiscuss Your Office Requirement in O’Hare
Tell us your size, timing, and where your people live. A co-founder or an Executive Vice President will call within one business day with the buildings that fit and what landlords are conceding now.
- No cost to you; the landlord pays our fee
- We never share your information with landlords
- Monday to Friday, 8am to 6pm
Prefer to talk now?
(847) 778-0296"*" indicates required fields
Submissions go directly to Tom Koelzer. We respond within one business day.