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

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

Net absorption was +86,900 SF over the past year, the strongest gain in the East-West Corridor. Tenant Advisors, Inc. represents only tenants in Oakbrook Terrace and the East-West Corridor office market, at no cost to tenants. Call (847) 778-0296.

Key Takeaways

• Vacancy is 22% across 23 tracked multi-tenant buildings.
• Net absorption over the past 12 months: +86,900 SF.
• Class A asks about $30–$34/SF gross; Class B about $23–$26/SF.
• The largest available block is about 226,000 SF at Oakbrook Terrace Tower.
• Sublease space is available in several notable buildings, including Oakbrook Terrace Tower.

Oakbrook Terrace Office Market Facts and Figures

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

Metric	Oakbrook Terrace
Tracked buildings	23
Vacancy rate	22%
Net absorption, trailing 12 months	+86,900 SF
Class A asking rent	$30–$34/SF gross
Class B asking rent	$23–$26/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	~226,000 SF (Oakbrook Terrace Tower, 1 Tower Ln)

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

A 5,000 SF office in Oakbrook Terrace costs about $12,500 to $14,150 a month in a Class A building and about $9,600 to $10,850 a month in Class B, before free rent. Those figures use Tenant Advisors’ tracked gross rents of $30 to $34/SF in Class A and $23 to $26/SF in Class B.

Office size	Class A, monthly ($30–$34/SF)	Class B, monthly ($23–$26/SF)
2,000 SF	$5,000–$5,650	$3,850–$4,350
5,000 SF	$12,500–$14,150	$9,600–$10,850
10,000 SF	$25,000–$28,350	$19,150–$21,650

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 Oakbrook Terrace Office Space Filling Up or Emptying Out?

Filling up. Oakbrook Terrace added +86,900 SF of occupied space over the past year, the largest gain of any East-West Corridor city. Vacancy is 22%, below the corridor’s larger markets, and the best-leased buildings are getting firmer on terms.

What Are the Notable Office Buildings in Oakbrook Terrace?

Building	Address	Size (SF)	Built	Class	% Leased	Available (SF)
Oakbrook Terrace Tower	1 Tower Ln.	792,192	1987	A	78%	226,318
Oakbrook Terrace Corporate Center I–III	1801–1901 S. Meyers Rd.	714,956	1986–1991	A	63%	292,565
One Lincoln Centre	18W140 Butterfield Rd.	314,695	1986	A	79%	110,577
Parkview Plaza	1 Parkview Plaza	267,267	1990	A	94%	63,581
Mid America Plaza (2 buildings)	1 and 2 Mid America Plaza	414,499	1985	A	86%	63,647
One Oakbrook Terrace	One Oakbrook Terrace	161,373	1983	A	79%	35,786

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

Oakbrook Terrace Tower, 1 Tower Ln.

792,000 SF, Class A, built 1987. About 78% leased with roughly 226,000 SF available.

Oakbrook Terrace Corporate Center I–III, 1801–1901 S. Meyers Rd.

About 715,000 SF across 3 buildings, Class A, built 1986–1991. About 63% leased with roughly 293,000 SF available.

One Lincoln Centre, 18W140 Butterfield Rd.

315,000 SF, Class A, built 1986. About 79% leased with roughly 111,000 SF available.

Which Oakbrook Terrace 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	One Oakbrook Terrace, Parkview Plaza, Mid America Plaza	Well-leased Class A buildings that suit small suites
5,000–20,000 SF	One Lincoln Centre	About 110,000 SF available across partial floors
20,000 SF and up	Oakbrook Terrace Tower, Oakbrook Terrace Corporate Center I–III	The largest blocks in Oakbrook Terrace, each with more than 225,000 SF available

Is There Sublease Office Space in Oakbrook Terrace?

Yes. Sublease options are currently available in several of Oakbrook Terrace’s notable buildings, including Oakbrook Terrace Tower, One Lincoln Centre and 2 Mid America Plaza. 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 Oakbrook Terrace 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 Oakbrook Terrace?

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 Oakbrook Terrace 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 Oakbrook Terrace Right Now?

In the buildings carrying the most vacancy. At 22% vacancy, the market is still soft, but the best-leased buildings negotiate more firmly. Oakbrook Terrace competes with Oak Brook, Lombard and Downers Grove for the same tenants, and pricing those options against each other is the most effective lever.

What Should Tenants Negotiate on an Oakbrook Terrace 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 Oakbrook Terrace?

We build a shortlist from every building in Oakbrook Terrace 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 Oakbrook Terrace?

Oakbrook Terrace sits between Oak Brook and Lombard at Route 83, Butterfield Road and 22nd Street, a minute from I-88 and I-294. It is home to Oakbrook Terrace Tower, the tallest office building in the Chicago suburbs, and a cluster of Class A buildings that compete directly with Oak Brook for financial services, law and professional services 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 Oakbrook Terrace lease against the market: (847) 778-0296 | tkoelzer@tenantadvisors.com.

Explore Nearby Office Markets

East-West Corridor office market • Oak Brook office space • Lombard office space • Downers Grove office space • All Chicago suburban office markets