Hoffman Estates, IL Office Space for Lease: 2026 Costs, Buildings and Rents

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

Net absorption was a positive 36,100 SF over the past year, and nothing new is under construction. Two buildings hold more than half of the available space. Tenant Advisors, Inc. represents only tenants in Hoffman Estates and the Northwest Suburbs office market, at no cost to tenants. Call (847) 778-0296.

Key Takeaways

• Vacancy is 42.8%, the second highest of the eight Northwest Suburbs cities we track.
• Available space averages 58.9 months on the market.
• Bell Works and 2001 Lakewood Blvd. hold about 715,000 SF of the 1.2 million SF available.
• About 100,000 SF of sublease space is available in five buildings.

Hoffman Estates Office Market Facts and Figures

Tenant Advisors tracks multi-tenant office buildings of 5,000 SF and larger in Hoffman Estates, the competitive set where most tenants of 3,000 to 50,000 SF lease space. Owner-occupied buildings are excluded.

Metric	Hoffman Estates
Tracked buildings	30
Total inventory	3.2 million SF
Vacancy rate	42.8% (43.9% one year ago)
Availability rate	39.3%
Net absorption, trailing 12 months	+36,100 SF
Space leased, trailing 12 months	89,800 SF
Class A asking rent	$34–$38/SF gross
Class B asking rent	$19–$24/SF gross
Free rent	1–1.5 months per lease year
Tenant improvement allowance	$6–$8/SF per lease year (Class A)
Average months on market	58.9
Lease renewal rate, past 24 months	60%
Sublease space available	99,900 SF
New construction	None
Most available space in one building	~433,000 SF (Bell Works Chicagoland, 2000 Center Dr.)

Figures reflect Tenant Advisors’ market tracking of multi-tenant office buildings 5,000 SF and larger in Hoffman Estates. 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 Hoffman Estates?

A 5,000 SF office in Hoffman Estates costs about $14,150 to $15,850 a month in a Class A building and about $7,900 to $10,000 a month in Class B, before free rent. Those figures use Tenant Advisors’ tracked gross rents of $34 to $38/SF in Class A and $19 to $24/SF in Class B.

Office size	Class A, monthly ($34–$38/SF)	Class B, monthly ($19–$24/SF)
2,000 SF	$5,650–$6,350	$3,150–$4,000
5,000 SF	$14,150–$15,850	$7,900–$10,000
10,000 SF	$28,350–$31,650	$15,850–$20,000

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 Hoffman Estates Office Space Filling Up or Emptying Out?

Holding steady at a high level. Hoffman Estates added 36,100 SF of occupied space over the past year and vacancy dipped 1.1 points, but 42.8% of tracked space is still empty and available space averages 58.9 months on the market. Landlords that have carried space that long want deals.

What Are the Notable Office Buildings in Hoffman Estates?

Building	Address	Size (SF)	Built	Class	% Leased	Available (SF)
Bell Works Chicagoland	2000 Center Dr.	1,243,483	1991	A	55%	433,320
2001 Lakewood Blvd.	2001 Lakewood Blvd.	281,382	1980	B	0%	281,382
Greenspoint I	2800 W. Higgins Rd.	207,002	1988	B	75%	59,902
Greenspoint III	2895 Greenspoint Pkwy.	150,602	1999	B	82%	60,233
Greenspoint office park (12 buildings)	2500 W. Higgins Rd.	259,272	1975	B	79%	60,833
2300 N. Barrington Rd.	2300 N. Barrington Rd.	149,748	1989	B	85%	46,396
Poplar Creek Office Plaza I	1721 Moon Lake Blvd.	135,147	1987	B	41%	71,507
2815 Forbs Ave.	2815 Forbs Ave.	97,228	2007	B	53%	52,044
Prairie Stone Commons	5401 Trillium Blvd.	57,266	1997	B	14%	49,016
Prairie Stone Commons 5407	5407 Trillium Blvd.	50,990	2000	A	51%	24,734

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

Bell Works Chicagoland, 2000 Center Drive

The former AT&T campus, about 1.24 million SF, redeveloped with a food court, fitness center and coworking suites under one roof. It is about 55% leased with about 433,000 SF available, more than a third of all available office space in Hoffman Estates. It is the amenity leader in the far northwest suburbs and prices above conventional buildings, so tenants should make it compete against them.

2001 Lakewood Boulevard

About 281,000 SF and fully vacant. A landlord with an entire building to fill is usually the most flexible landlord in town.

Greenspoint, Higgins Road at Route 59

Greenspoint I and III plus the 12-building office park at 2500 W. Higgins total about 617,000 SF, about 78% leased. This is the deepest pool of smaller and mid-size Class B suites in Hoffman Estates.

Prairie Stone, Trillium Boulevard and Forbs Avenue

The newer buildings on the west side of town near I-90 and Route 59 are less than half leased, with roughly 126,000 SF available across 5401 and 5407 Trillium and 2815 Forbs. Prairie Stone Commons at 5401 Trillium is only about 14% leased.

Which Hoffman Estates 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	Greenspoint office park, Greenspoint I and III, 2300 N. Barrington Rd.	Multi-tenant Class B buildings with existing suites and modest rents
5,000–20,000 SF	Poplar Creek Office Plaza I, 2815 Forbs Ave., Prairie Stone Commons	Partial floors and half-empty buildings where landlords are motivated
20,000 SF and up	Bell Works Chicagoland, 2001 Lakewood Blvd. (fully vacant)	The largest blocks in Hoffman Estates, with more than 700,000 SF between them

Is There Sublease Office Space in Hoffman Estates?

Yes. About 100,000 SF of sublease space is available in five Hoffman Estates buildings. Most of it is in two fully leased buildings and is still occupied; about 5,400 SF is vacant now.

Building	Address	Sublease SF	Vacant now
Prairie Stone Innovation Center	2870 Forbs Ave.	72,000	No, occupied
2345 Pembroke Ave.	2345 Pembroke Ave.	22,500	No, occupied
Bell Works Chicagoland	2000 Center Dr.	2,500	Yes
Greenspoint I	2800 W. Higgins Rd.	1,700	Yes
2300 N. Barrington Rd.	2300 N. Barrington Rd.	1,200	Yes

Sublease space usually comes built out and often furnished, with a shorter remaining term. It typically prices below direct space. The remaining term is the main thing to check. The 72,000 SF block at 2870 Forbs is one of the largest sublease offerings in the Northwest Suburbs.

How Does Hoffman Estates Compare With Other Northwest Suburbs Cities?

City	Vacancy	Year ago	12-mo net absorption (SF)	Inventory	Sublease SF	Asking rent, gross
Schaumburg	33.1%	34.4%	+109,900	8.6M SF	134,400	A $34–$38; B $20–$24
Hoffman Estates	42.8%	43.9%	+36,100	3.2M SF	99,900	A $34–$38; B $19–$24
Arlington Heights	40.9%	37.8%	-53,100	1.8M SF	4,600	A ~$26; B ~$19
Rolling Meadows	41.2%	36.9%	-92,000	2.1M SF	0	A ~$30; B ~$19
Palatine	22.9%	21.6%	-7,800	589,000 SF	0	~$19.50 average
Barrington	66.0%	65.0%	-6,300	665,000 SF	0	A ~$30; B ~$18
Elgin	38.6%	38.1%	-12,700	2.1M SF	3,600	A ~$26; B ~$20
Itasca	25.4%	21.3%	-103,000	2.5M SF	43,300	A $24–$28; B $19–$24

Tenant Advisors market tracking, multi-tenant office buildings 5,000 SF and larger, October 2026. Rents are Tenant Advisors’ tracked-transaction figures per SF per year.

Should You Lease, Sublease or Use Coworking in Hoffman Estates?

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. About 99,900 SF of sublease space is available in Hoffman Estates, most of it in two occupied blocks that will free up later.

	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 Hoffman Estates Right Now?

In the long vacancies. Space in Hoffman Estates averages almost five years on the market, and two buildings account for more than half of what is available. At the same time, about 60% of tenants with expiring leases renewed over the past two years, the highest renewal rate in the Northwest Suburbs. Landlords here price renewals expecting tenants to stay. A renewal tenant who brings real alternatives from Bell Works, Greenspoint and nearby Schaumburg changes that math. See our office lease renewal negotiation page.

What Should Tenants Negotiate on a Hoffman Estates Office Lease in 2026?

• Rent: with space averaging 58.9 months on the market, first proposals leave room. 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.
• Bell Works vs. the field: price the amenity campus against conventional buildings and make it earn the difference.
• 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 Hoffman Estates?

We build a shortlist from every building in Hoffman Estates 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 Hoffman Estates?

Hoffman Estates offers I-90 access at Route 59 and Barrington Road, the Bell Works amenity campus, the NOW Arena events anchor and a deep residential talent base across the far northwest suburbs. Healthcare, professional services and cost-conscious corporate users make up most of the tenant base. For the full market picture, see our Northwest Suburbs 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 Hoffman Estates lease against the market: (847) 778-0296 | tkoelzer@tenantadvisors.com.

Explore Nearby Office Markets

Northwest Suburbs office market • Schaumburg office space • Elgin office space • Barrington office space • Rolling Meadows office space • All Chicago suburban office markets