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

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

Net absorption was +17,800 SF over the past 12 months, available space takes 23 months on average to lease, and nothing new is under construction. Tenant Advisors, Inc. represents only tenants in Northfield and the North Suburbs office market, at no cost to tenants. Call (847) 778-0296.

Northfield is a four-building market, so every vacancy matters to the landlord. One well-timed requirement can move a deal more here than in a bigger town.

Tom Koelzer, Co-Founder and Managing Partner, Tenant Advisors

Key Takeaways

• Vacancy is 26.5%, down 4.8 points in a year, across 369,000 SF.
• Class A asks about $36–$44/SF gross; Class B about $24–$32/SF.
• Availability, counting space coming available, is 28.9%.
• Net absorption was +17,800 SF over the past 12 months; about 24,200 SF was leased.
• Most available space in one building: ~61,000 SF (Willow Hill Executive Center, 540–550 W. Frontage Rd.).

Northfield Office Market Facts and Figures

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

Metric	Northfield
Tracked buildings	4
Total inventory	369,000 SF
Vacancy rate	26.5% (31.3% one year ago)
Availability rate	28.9%
Net absorption, trailing 12 months	+17,800 SF
Space leased, trailing 12 months	24,200 SF
Class A asking rent	$36–$44/SF gross
Class B asking rent	$24–$32/SF gross
Free rent	1–2 months per lease year
Tenant improvement allowance	$30–$55/SF for full build-outs, 5+ year terms
Average months on market	23.2
Lease renewal rate, past 24 months	38%
Sublease space available	None listed
New construction	None
Most available space in one building	~61,000 SF (Willow Hill Executive Center, 540–550 W. Frontage Rd.)

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

A 5,000 SF office in Northfield costs about $15,000 to $18,350 a month in a Class A building and about $10,000 to $13,350 a month in Class B, before free rent. Those figures use Tenant Advisors’ tracked gross rents of $36 to $44/SF in Class A and $24 to $32/SF in Class B.

Office size	Class A, monthly ($36–$44/SF)	Class B, monthly ($24–$32/SF)
2,000 SF	$6,000–$7,350	$4,000–$5,350
5,000 SF	$15,000–$18,350	$10,000–$13,350
10,000 SF	$30,000–$36,650	$20,000–$26,650

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 Northfield Office Space Filling Up or Emptying Out?

Filling up. Northfield added about 17,800 SF of occupied space over the past year, nearly 5% of its inventory, and vacancy fell from 31.3% to 26.5%. Tenants leased about 24,200 SF. No sublease space is listed right now.

What Are the Notable Office Buildings in Northfield?

Building	Address	Size (SF)	Built	Class	% Leased	Available (SF)
Willow Hill Executive Center	540-550 W. Frontage Rd.	165,504	1972	B	63%	60,858
Northfield Plaza	Northfield Plz.	117,698	1980	A	70%	35,788
191 Waukegan Road Building	191 Waukegan Rd.	64,332	1983	B	93%	13,430
1845 Oak St.	1845 Oak St.	21,175	1978	B	96%	796

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

Willow Hill Executive Center

540–550 W. Frontage Road (166,000 SF) beside the Edens is about 63% leased with about 61,000 SF available, the largest block in Northfield.

Northfield Plaza

Northfield Plaza (118,000 SF, Class A) is about 70% leased with about 36,000 SF available.

Smaller buildings

191 Waukegan Road (64,000 SF) is about 93% leased, and 1845 Oak Street is about 96% leased.

Which Northfield 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	1845 Oak St., 191 Waukegan Road Building	Well-leased buildings with small suites
5,000–20,000 SF	Northfield Plaza	About 36,000 SF available in Class A
20,000 SF and up	Willow Hill Executive Center	The largest block in Northfield, about 61,000 SF

Is There Sublease Office Space in Northfield?

Not right now. No sublease office space is listed in Northfield’s multi-tenant buildings, so tenants are choosing among direct deals. Sublease space in nearby cities is worth a look for short-term needs.

How Does Northfield Compare With Other North Suburbs Cities?

City	Vacancy	Year ago	12-mo net absorption (SF)	Inventory	Sublease SF	Asking rent, gross
Deerfield	34.5%	24.1%	-310,000	3.0M SF	201,000	A $36–$44; B $24–$32
Northbrook	20.0%	20.8%	+21,300	2.7M SF	171,000	A $36–$44; B $24–$32
Lincolnshire	62.4%	59.6%	-62,600	2.3M SF	104,000	A $36–$44; B $24–$32
Skokie	34.0%	35.3%	+28,900	2.2M SF	82,200	A $36–$44; B $24–$32
Evanston	23.6%	21.7%	-33,700	1.8M SF	10,800	A $36–$44; B $24–$32
Libertyville	36.3%	33.3%	-41,800	1.4M SF	38,700	A $36–$44; B $24–$32
Buffalo Grove	37.2%	40.6%	+45,700	1.4M SF	39,500	A $36–$44; B $24–$32
Lake Forest	29.7%	26.3%	-38,000	1.1M SF	106,000	A $36–$44; B $24–$32
Bannockburn	38.7%	41.6%	+24,900	862,000 SF	27,400	A $36–$44; B $24–$32
Vernon Hills	38.0%	34.5%	-25,400	732,000 SF	0	A $36–$44; B $24–$32
Highland Park	13.6%	14.7%	+7,100	639,000 SF	3,400	A $36–$44; B $24–$32
Glenview	23.1%	23.0%	-600	521,000 SF	0	A $36–$44; B $24–$32
Northfield	26.5%	31.3%	+17,800	369,000 SF	0	A $36–$44; B $24–$32

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 Northfield?

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. No sublease space is listed in the Northfield buildings Tenant Advisors tracks right now, so direct space is the main option.

	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 Northfield Right Now?

At Willow Hill and Northfield Plaza. With only four multi-tenant buildings, each landlord feels every vacancy, and about 38% of tenants renewed over the past two years. Comparing Northfield with Northbrook and Glenview gives a tenant real alternatives a few minutes away. See our renewal vs. relocation analysis and lease renewal negotiation services.

What Should Tenants Negotiate on a Northfield Office Lease in 2026?

• Rent: target effective rent after concessions, not the asking rate.
• Free rent: 1 to 2 months per year of lease term, or 5 to 10 months on a 5-year lease.
• Tenant improvement allowance: $30–$55/SF for full build-outs on 5+ year terms. Get build-out pricing before you negotiate this number.
• 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 Northfield?

We build a shortlist from every building in Northfield 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 Northfield?

Northfield sits on the Edens Expressway (I-94) at Willow Road with Route 41 nearby, and the closest Metra stations are in Glenview and Winnetka. Medline is headquartered here, and professional services, healthcare and financial services firms make up most of the multi-tenant base. Companies comparing locations usually look at Northbrook, Glenview and Skokie as well.

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

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