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

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

Net absorption was a modest +15,400 SF over the past year. Tenant Advisors, Inc. represents only tenants in Lombard and the East-West Corridor office market, at no cost to tenants. Call (847) 778-0296.

Key Takeaways

• Vacancy is 29.5% across 31 tracked multi-tenant buildings.
• Net absorption over the past 12 months: +15,400 SF.
• Class A asks about $28–$32/SF gross; Class B about $21–$24/SF.
• The largest available block is about 164,000 SF at 701 E 22nd St.
• Sublease space is available in several notable buildings, including Highland Pointe I.

Lombard Office Market Facts and Figures

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

Metric	Lombard
Tracked buildings	31
Vacancy rate	29.5%
Net absorption, trailing 12 months	+15,400 SF
Class A asking rent	$28–$32/SF gross
Class B asking rent	$21–$24/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	~164,000 SF (701 E 22nd St)

Figures reflect Tenant Advisors’ market tracking of multi-tenant office buildings in Lombard. 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 Lombard?

A 5,000 SF office in Lombard costs about $11,650 to $13,350 a month in a Class A building and about $8,750 to $10,000 a month in Class B, before free rent. Those figures use Tenant Advisors’ tracked gross rents of $28 to $32/SF in Class A and $21 to $24/SF in Class B.

Office size	Class A, monthly ($28–$32/SF)	Class B, monthly ($21–$24/SF)
2,000 SF	$4,650–$5,350	$3,500–$4,000
5,000 SF	$11,650–$13,350	$8,750–$10,000
10,000 SF	$23,350–$26,650	$17,500–$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 Lombard Office Space Filling Up or Emptying Out?

Holding steady, with a small gain. Lombard absorbed +15,400 SF over the past year. With vacancy at 29.5%, tenants still have plenty of choice, but the market is not losing ground.

What Are the Notable Office Buildings in Lombard?

Building	Address	Size (SF)	Built	Class	% Leased	Available (SF)
Imperial Place	1 E. 22nd St.	165,410	1985	A	80%	48,794
701 E. 22nd St.	701 E. 22nd St.	225,717	1984	A	66%	163,880
Highland Pointe I and II	333–377 E. Butterfield Rd.	376,571	1984–1986	B	56%	169,326
Butterfield Centre (2 buildings)	700–720 E. Butterfield Rd.	292,843	1984–1991	B	72%	153,632
Oak Creek Center (6 buildings)	Finley Rd., Waters Edge Dr. and Oak Creek Dr.	271,255	1982–1999	B/C	68%	94,534
Green Brook Executive Center (2 buildings)	100–200 W. 22nd St.	140,912	1985	B	74%	36,517

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

Imperial Place, 1 E. 22nd St.

165,000 SF, Class A, built 1985. About 80% leased with roughly 49,000 SF available.

701 E. 22nd St.

226,000 SF, Class A, built 1984. About 66% leased with roughly 164,000 SF available.

Highland Pointe I and II, 333–377 E. Butterfield Rd.

About 377,000 SF across 2 buildings, Class B, built 1984–1986. About 56% leased with roughly 169,000 SF available.

Which Lombard 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	Green Brook Executive Center, Imperial Place	Smaller and well-leased buildings that suit small suites
5,000–20,000 SF	Oak Creek Center, Butterfield Centre	Multi-building campuses with partial floors available
20,000 SF and up	701 E. 22nd St., Highland Pointe I and II	The largest blocks in Lombard, each with more than 160,000 SF available

Is There Sublease Office Space in Lombard?

Yes. Sublease options are currently available in several of Lombard’s notable buildings, including Highland Pointe I. 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 Lombard 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 Lombard?

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 Lombard 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 Lombard Right Now?

In most buildings. With vacancy at 29.5%, landlords with large vacancies compete on rent, free rent and build-out dollars. Lombard competes with Oakbrook Terrace, Oak Brook, Downers Grove and Wheaton for the same tenants, and pricing those options against each other is the most effective lever.

What Should Tenants Negotiate on a Lombard 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 Lombard?

We build a shortlist from every building in Lombard 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 Lombard?

Lombard’s office buildings line Butterfield Road and 22nd Street near Yorktown Center, with I-88 and I-355 at the edge of town. It offers big-building space a few minutes from Oak Brook at lower rents, and draws professional services, healthcare administration, insurance and technology tenants. For the full market picture, see our East-West Corridor office market page.

Frequently Asked Questions

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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 Lombard lease against the market: (847) 778-0296 | tkoelzer@tenantadvisors.com.

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