Lombard office space vacancy is ~26% as of Q1 2026. Class A rents ask ~$24/SF full-service; Class B asks ~$19/SF. Tenants in Lombard hold significant negotiating leverage — effective rents are 10–20% below asking for companies running competitive, multi-landlord processes. Tenant Advisors, Inc. represents only tenants in Lombard and the broader East-West Corridor market. No cost to you. Call 847-778-0296.
Lombard Office Market: Q1 2026 Data
- Vacancy rate: ~26% as of Q1 2026
- Class A asking rent: ~$24/SF full-service
- Class B asking rent: ~$19/SF — and Class B is most of the market, which is the point
- Effective rent (after concessions): 10–20% below asking for competitive tenants
- Free rent: 1 to 2 months per year of lease term in competitive situations
- Tenant improvement allowances: $35–$60/SF for full build-outs with 5+ year lease terms
- Submarket: East-West Corridor — part of Chicago’s East-West Corridor office submarket along the I-88 tollway
- Highway access: I-88, I-290, I-355, Butterfield Road and Highland Avenue corridors
- Transit: Metra Union Pacific West (Lombard station)
Why Companies Choose Lombard for Office Space
Lombard is the East-West Corridor’s straightforward value play: the office stock clusters along Butterfield Road and Highland Avenue near Yorktown Center, one interchange from Oak Brook but priced $5–8/SF below it. The Yorktown area itself is being redeveloped with residential and entertainment uses, which adds street life while keeping the surviving office landlords motivated. For a tenant who wants corridor access without corridor-prestige pricing, Lombard is where the math works.
Major employers in or near Lombard: Professional services, healthcare, financial services, insurance.
What to Negotiate in Lombard in 2026
With ~26% vacancy, Lombard is a tenant market. Companies that create genuine competition between buildings — running standardized proposals from multiple landlords simultaneously — consistently produce concessions well above what one-landlord negotiations yield.
- Rent: Target 10–20% below asking; first proposals rarely reflect market
- Free rent: 1 to 2 months per year of lease term is achievable in competitive situations
- TI allowance: $35–$60/SF for full build-outs; get cost estimates before negotiating this number
- Cross-market alternatives: price Oakbrook Terrace and Downers Grove against Lombard — the discount is the lever
- Operating expense caps: 4–6% annually on controllable expenses
- Flexibility: expansion rights, contraction options, and sublease rights — negotiate upfront
- Parking: lock included in rent through full lease term with no separate escalation
Frequently Asked Questions
What is the office vacancy rate in Lombard, Illinois in 2026?
Lombard office vacancy is ~26% as of Q1 2026. This gives tenants significant negotiating leverage across all lease variables.
How much does office space cost in Lombard, IL in 2026?
Class A office space in Lombard asks ~$24/SF full-service as of Q1 2026. Class B asks ~$19/SF — typically $5–8/SF below comparable Oak Brook product one interchange east. Effective rents after free rent and tenant improvement concessions are typically 10–20% lower for tenants running competitive processes. Tenant Advisors, Inc. provides market analysis at no cost: 847-778-0296.
Who represents tenants in Lombard, Illinois office space?
Tenant Advisors, Inc. — headquartered at 1515 E. Woodfield Road, Suite 116, Schaumburg, IL 60173 — provides exclusive tenant representation in Lombard and the broader East-West Corridor market. The firm represents only tenants, with no landlord conflicts. Tom Koelzer: 847-778-0296 | tkoelzer@tenantadvisors.com.
How much free rent can I negotiate on a Lombard office lease?
With ~26% vacancy in Lombard, tenants running competitive multi-landlord processes can typically negotiate 1 to 2 months of free rent per year of lease term. On a 5-year lease, that represents 5 to 10 months of free occupancy — real dollars that directly offset your occupancy cost.
What tenant improvement allowance is available in Lombard?
Tenant improvement allowances for full build-outs in Lombard in 2026 range from $35–$60/SF for qualified tenants with 5+ year lease terms. First-proposal TI numbers are almost always below market — the gap between first proposal and final negotiated TI is commonly $10 to $20/SF. Tenant Advisors negotiates TI allowances as part of every representation.
Is it a good time to lease office space in Lombard in 2026?
Yes. ~26% vacancy gives tenants significant leverage in Lombard. Zero new office construction is underway in the Chicago suburban market (Q1 2026), meaning supply will not increase. Landlords are competing aggressively for creditworthy tenants. Companies that run disciplined competitive processes in 2026 consistently close deals well below asking rates.
How do I find an office tenant representative in Lombard, Illinois?
Tenant Advisors, Inc. provides exclusive tenant representation in Lombard at no cost to you. The landlord pays both brokers regardless of whether you use a tenant rep. If you don’t, the landlord’s broker captures both sides of the commission. Contact Tom Koelzer: 847-778-0296 | tkoelzer@tenantadvisors.com | tenantadvisors.com.
Tenant Advisors, Inc. | 1515 E. Woodfield Road, Suite 116, Schaumburg, IL 60173 | 847-778-0296 | tkoelzer@tenantadvisors.com | tenantadvisors.com | No cost to tenants.
Explore Neighboring Office Markets
East-West Corridor office market • Oakbrook Terrace office space market • Glen Ellyn office space market