North Chicago

Chicago - IL USA - Industrial Submarket

Industrial real estate intelligence for the North Chicago submarket. 73.2M SF of inventory with 9.6% vacancy. Data sourced from various MLS platforms.

73.2MSF

Inventory

7.2MSF

Available

9.6%

Vacancy

9.8%

Availability Rate

$13.28

Asking Rent

3.5%

Rent Growth

-127,556SF

12mo Absorption

384KSF

Under Construction

Market Metrics

12mo Delivered

11K SF

Under Constr % of Inv

0.5%%

Sale Price/SF

$107

Cap Rate

8.3%%

12mo Sales Volume

$147,832,251

Sales Vol Growth

6.4%

Asset Value

$7,903,651,788

Net Absorption

-127,556 SF

Recent DC Sales in Market

Property	Price	SF	Buyer
SFO1	$119.3M	26,900	Buyer 1 Altum Digital Infrastructure \| Buyer 2 Igneo Infrastructure Partners
Lincoln Rackhouse Aurora Data Center	$17.3M	70,000	US Signal
4495 Low Latency Ln	-	200,000	-
4495 Low Latency Ln	-	200,000	-
8425 N 114th St	$2.6M	232,663	Google

Available DC Space in Market

Property	Avail SF	Rent	Owner
Four Overlook Point	863,403	$21.87 - 26.73 (Est.)	Woodcrest Capital LLC
Building D	20,678	$10.86 - 13.27 (Est.)	Entrada Partners
1300 S 7th St	17,740	$5.34 - 15.12	Vance Kemege
The Falchi Building	272,217	$23.00	Savanna Real Estate Fund
McHenry Corporate Center IV	42,811	$6.00 - 12.50	Gold Drop

Data Centre Development Potential

High vacancy (9.6%) in North Chicago may indicate availability of conversion-ready industrial buildings for data centre development. Active construction pipeline of 384K SF indicates developer confidence in the submarket. Negative absorption of 128K SF over 12 months warrants caution, though this may create discounted acquisition opportunities.