{
  "url": "https://classa.info/cities/chicago/rents-and-incentives",
  "title": "Chicago Class A office rents and incentives",
  "description": "Class A asking rents, concessions, free rent, and tenant improvement allowances in Chicago.",
  "oneSentenceAnswer": "Headline Class A rent in Chicago is around $52/sqft/yr, with 22 months of typical rent-free on a 10-year term.",
  "tldr": [
    "Headline Class A rent: $52/sqft/yr.",
    "Trophy submarket rents (West Loop) push to roughly $70/sqft/yr.",
    "Typical concessions on a 10-year deal: 22 months free rent.",
    "Vacancy stands at 24.5% — market trend is flat.",
    "Use effective rent (face minus PV of concessions), not headline, to compare deals."
  ],
  "keyFacts": {
    "city": "Chicago",
    "country": "United States",
    "region": "Americas",
    "classARentLocal": "$52/sqft/yr",
    "classARentUsd": "$52/sqft/yr",
    "vacancy": "24.5%",
    "typicalLeaseYears": 10,
    "typicalRentFreeMonths": 22,
    "submarkets": 6,
    "primeYieldPct": "7%",
    "trophyRent": "$70/sqft/yr",
    "primeRent": "$50/sqft/yr"
  },
  "faqs": [
    {
      "question": "What is the average Class A rent in Chicago?",
      "answer": "Around $52/sqft/yr across the broader Class A index. Trophy submarkets like West Loop command 20–40% above that."
    },
    {
      "question": "How many months of rent-free are normal in Chicago?",
      "answer": "22 months on a 10-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher."
    },
    {
      "question": "Are rents rising or falling in Chicago?",
      "answer": "The Chicago Class A market is currently flat. Vacancy is 24.5%, which sets the negotiating context."
    }
  ],
  "pageType": "city-topic",
  "lastUpdated": "2026-04-15T00:00:00.000Z",
  "license": "CC BY 4.0 with attribution to Class A Atlas (https://classa.info).",
  "citation": "Source: Class A Atlas (https://classa.info/cities/chicago/rents-and-incentives), updated 2026-04-15T00:00:00.000Z."
}