Downers Grove, IL Office Space for Lease: 2026 Costs, Buildings and Rents

Data as of October 2026 | Last updated October 17, 2026

Net absorption was roughly flat at -2,000 SF over the past year. Tenant Advisors, Inc. represents only tenants in Downers Grove and the East-West Corridor office market, at no cost to tenants. Call (847) 778-0296.

Key Takeaways

• Vacancy is 23.5% across 36 tracked multi-tenant buildings.
• Net absorption over the past 12 months: -2,000 SF.
• Class A asks about $31–$35/SF gross; Class B about $24–$27/SF.
• The largest available block is about 274,000 SF at Highland Landmark I.
• Sublease space is available in several notable buildings, including Esplanade IV.

Downers Grove Office Market Facts and Figures

Tenant Advisors tracks multi-tenant office buildings in Downers Grove, the competitive set where most tenants of 3,000 to 50,000 SF lease space. Owner-occupied buildings are excluded.

Metric	Downers Grove
Tracked buildings	36
Vacancy rate	23.5%
Net absorption, trailing 12 months	-2,000 SF
Class A asking rent	$31–$35/SF gross
Class B asking rent	$24–$27/SF gross
Free rent	1–1.5 months per lease year
Tenant improvement allowance	$6–$8/SF per lease year (Class A)
Sublease space available	Yes, in several notable buildings
New construction	None
Most available space in one building	~274,000 SF (Highland Landmark I, 3075 Highland Pky)

Figures reflect Tenant Advisors’ market tracking of multi-tenant office buildings in Downers Grove. Rents and concessions are Tenant Advisors’ tracked-transaction ranges, quoted full-service gross. Data is updated quarterly.

What Does Office Space Cost Per Month in Downers Grove?

A 5,000 SF office in Downers Grove costs about $12,900 to $14,600 a month in a Class A building and about $10,000 to $11,250 a month in Class B, before free rent. Those figures use Tenant Advisors’ tracked gross rents of $31 to $35/SF in Class A and $24 to $27/SF in Class B.

Office size	Class A, monthly ($31–$35/SF)	Class B, monthly ($24–$27/SF)
2,000 SF	$5,150–$5,850	$4,000–$4,500
5,000 SF	$12,900–$14,600	$10,000–$11,250
10,000 SF	$25,850–$29,150	$20,000–$22,500

Monthly rent before free rent and improvement allowances. Gross rent generally includes real estate taxes and building operating expenses.

Gross rent is not always the whole bill. Ask each landlord about:

• In-suite electricity, which some buildings bill separately.
• Operating expense and tax increases over the base year, which a cap can limit.
• After-hours heating and cooling charges.
• Build-out costs above the improvement allowance, plus cabling, furniture and moving.

Is Downers Grove Office Space Filling Up or Emptying Out?

Roughly flat. Downers Grove moved -2,000 SF over the past year, essentially even. Vacancy is 23.5%, so tenants have options without the market getting meaningfully looser or tighter.

What Are the Notable Office Buildings in Downers Grove?

Building	Address	Size (SF)	Built	Class	% Leased	Available (SF)
Highland Landmark I–V	3005–3075 Highland Pkwy.	1,356,233	1997–2008	A/B	75%	747,603
Esplanade I, IV and V	1901–2001 Butterfield Rd. and 3250 Lacey Rd.	992,554	1990–2002	A/B	84%	185,391
Executive Towers West I–III	1400–1431 Opus Pl.	670,484	1984–1987	A/B	59%	288,210
Corridors II and III	2650–2655 Warrenville Rd.	372,772	1999–2001	A/B	80%	88,891
Woodland Corporate Tower	1333 Butterfield Rd.	187,774	1985	A	97%	8,835
Highland Oaks	1100 W. 31st St.	107,491	1980	B	68%	34,415

Available SF includes direct and sublease space, including space coming available. Tenant Advisors market tracking, October 2026.

Highland Landmark I–V, 3005–3075 Highland Pkwy.

About 1,356,000 SF across 5 buildings, Class A/B, built 1997–2008. About 75% leased with roughly 748,000 SF available.

Esplanade I, IV and V, 1901–2001 Butterfield Rd. and 3250 Lacey Rd.

About 993,000 SF across 3 buildings, Class A/B, built 1990–2002. About 84% leased with roughly 185,000 SF available.

Executive Towers West I–III, 1400–1431 Opus Pl.

About 670,000 SF across 3 buildings, Class A/B, built 1984–1987. About 59% leased with roughly 288,000 SF available.

Which Downers Grove Buildings Fit Small and Large Tenants?

Small tenants do best in buildings with suites already built out, while companies needing a full floor or more should start with the buildings carrying the largest vacant blocks. Use this as a starting list; actual suites change month to month.

Space needed	Where to start looking	Why
Under 5,000 SF	Woodland Corporate Tower, Highland Oaks	Smaller or well-leased buildings that suit small suites
5,000–20,000 SF	Corridors II and III, Esplanade I, IV and V	Partial floors in Class A campuses
20,000 SF and up	Highland Landmark I–V, Executive Towers West I–III	The largest blocks in Downers Grove; Highland Landmark alone has about 748,000 SF available

Is There Sublease Office Space in Downers Grove?

Yes. Sublease options are currently available in several of Downers Grove’s notable buildings, including Esplanade IV, Esplanade V and 3500 Lacey Rd. Sublease space often comes at a discount to direct rent, with furniture and cabling in place, but the term is limited to what remains on the original lease. See our Chicago office sublease guide.

How Does Downers Grove Compare With Other East-West Corridor Cities?

City	Vacancy	12-mo net absorption (SF)	Asking rent, gross	Tracked buildings
Naperville	26%	-10,500	A $28–$32; B $23–$26	66
Oak Brook	27%	-69,000	A $34–$38; B $24–$28	52
Downers Grove	23.5%	-2,000	A $31–$35; B $24–$27	36
Lombard	29.5%	+15,400	A $28–$32; B $21–$24	31
Oakbrook Terrace	22%	+86,900	A $30–$34; B $23–$26	23
Lisle	31%	+10,900	A $27–$31; B $22–$25	23
Wheaton	17.5%	-6,800	A $24–$27; B $20–$23	17
Aurora	20.5%	-18,300	A $26–$29; B $21–$24	15
Burr Ridge	29%	-2,100	A $28–$32; B $23–$26	13
Warrenville	24%	-21,600	A $27–$30; B $21–$24	12
Woodridge	17%	+8,600	A $25–$28; B $20–$23	12
Willowbrook	15.5%	+3,000	A $24–$27; B $19–$22	8

Tenant Advisors market tracking, multi-tenant office buildings, October 2026. Rents are Tenant Advisors’ tracked-transaction figures per SF per year.

Should You Lease, Sublease or Use Coworking in Downers Grove?

Lease direct if you need space for three years or more, sublease if you want built-out space at a discount and the remaining term fits, and use coworking only for small teams that need flexibility for a year or less. Sublease space is available in several notable Downers Grove buildings.

	Direct lease	Sublease	Coworking
Typical term	3 to 10 years	Whatever remains on the original lease	Month to month up to 1–2 years
Cost	Market rent, with free rent and an improvement allowance	Usually below direct rent	Priced per desk or office; usually the highest cost per SF
Build-out	Custom, funded largely by the landlord	As-is, often furnished	Ready to use
Watch out for	Committing to more space than you need	Landlord consent and the short remaining term	Rate increases at renewal and limited privacy

Where Is the Leverage in Downers Grove Right Now?

In the buildings carrying the most vacancy. At 23.5% vacancy, the market is still soft, but the best-leased buildings negotiate more firmly. Downers Grove competes with Lisle, Oak Brook, Woodridge and Lombard for the same tenants, and pricing those options against each other is the most effective lever.

What Should Tenants Negotiate on a Downers Grove Office Lease in 2026?

• Rent: target effective rent after concessions, not the asking rate.
• Free rent: 1 to 1.5 months per year of lease term, or 5 to 7.5 months on a 5-year lease.
• Tenant improvement allowance: $6 to $8/SF per year of lease term in Class A ($30 to $40/SF on a 5-year lease) and about $3 to $6/SF per year in Class B. Get build-out pricing before you negotiate this number.
• Ownership protection: a non-disturbance agreement and build-out funding that survive a sale or foreclosure.
• Operating expense caps: 4% to 6% annually on controllable expenses.
• Flexibility: expansion, contraction and sublease rights, negotiated upfront.
• Parking: included in rent for the full term with no separate escalation.

How Does Tenant Advisors Find and Tour Space in Downers Grove?

We build a shortlist from every building in Downers Grove that fits your size, budget and timing, tour the best options in one block, and negotiate with several landlords at once. The landlord pays our fee, so there is no cost to tenants.

1. Requirements call: size, budget, move date and must-haves.
2. Building survey: every option that fits, including sublease space, with rents and availability.
3. Tours: your top choices scheduled back to back.
4. Competing proposals: requests to three or more landlords, compared side by side on net effective cost.
5. Negotiation and lease review alongside your attorney through signing and move-in.

Why Do Companies Lease Office Space in Downers Grove?

Downers Grove sits at the I-88 and I-355 interchange, with its largest office buildings on Butterfield Road, Highland Parkway, Lacey Road and Opus Place. Three Metra BNSF stations and direct tollway access make it one of the most central addresses in DuPage County, and it draws healthcare, financial services, professional services and corporate headquarters tenants. For the full market picture, see our East-West Corridor office market page.

Frequently Asked Questions

---

About the authors: Tom Koelzer (Co-Founder & Managing Partner, LinkedIn) and Dave Ven Horst (Co-Founder & Managing Broker, LinkedIn) founded Tenant Advisors, Inc. in 2004. Both have worked in Chicago office leasing since 1986, and the firm has negotiated more than 2,000 office leases, representing tenants only. Benchmark your Downers Grove lease against the market: (847) 778-0296 | tkoelzer@tenantadvisors.com.

Explore Nearby Office Markets

East-West Corridor office market • Lisle office space • Oak Brook office space • Woodridge office space • Lombard office space • All Chicago suburban office markets