Analytics, Data, and Market Reports

We hope you find these reports helpful.

T

he following market data has been curated from a series of reports and provided to you free of charge. We encourage anyone interested in buying, selling, or occupying industrial or commercial property in Will County to review these reports

If you have any questions about this data or would like to discuss opportunities to buy, sell, or lease industrial property in Will County, please don’t hesitate to reach out. We’d love to hear from you.

Subscribe to Industrial RE Advisor

Your resource for Will County commercial real estate

Q4 2018

INDUSTRIAL PROPERTY LEASING

The leasing market for Q4 2018 continues to look good with vacancy rates hovering just over 3.0% (a slight drop from last quarter). Availability for buildings under 100,000 s.f. has gone up to 1,750,000 s.f. in Q4. Average rent is around $7.70 per s.f. with 39 spaces leased this quarter.

INDUSTRIAL PROPERTY SALES

For sale properties under 100,000 s.f. fell from 45 to just under 19 during Q4. The average sale price also dropped to $40 per s.f. while time on the market continued to rise. Currently sitting at just under 13 months. A total of 13 new listings are coming on to the market.

Q3 2018

INDUSTRIAL PROPERTY LEASING

The leasing market for Q3 2018 continues to look good with vacancy rates hovering just over 3.0% (a slight drop from last quarter). Availability for buildings under 100,000 s.f. has gone down slightly to 1,250,000 s.f. in Q2. Average rent is around $8.10 per s.f. with 37 spaces leased this quarter and another 28 properties coming onto the market.

INDUSTRIAL PROPERTY SALES

For sale properties under 100,000 s.f. fell from 58 to just under 45 during Q3. The average sale price also dropped to $52 per s.f. while time on the market continued to rise. Currently sitting at just under 13 months. 32 properties were traded in Q2 with a total of 15 new listings coming on to the market.

Q2 2018

INDUSTRIAL PROPERTY LEASING

The leasing market for Q2 2018 continues to look good with vacancy rates hovering just under 3.6% (no change from last quarter). Availability for buildings under 100,000 s.f. has gone down slightly to 1,750,000 s.f. in Q1. Average rent is around $7.55 per s.f. with 34 spaces leased this quarter and another 34 properties coming onto the market.

INDUSTRIAL PROPERTY SALES

For sale properties under 100,000 s.f. fell from 82 to just under 80 during Q2. The average sale price also dropped to $75 per s.f. while time on the market continued to rise. Currently sitting at just under 27 months. 19 properties were traded in Q2 with a total of 17 new listings coming on to the market.

Q1 2018

INDUSTRIAL PROPERTY LEASING

The Will County industrial market continues to be strong. Looking at the Q1 2018 results, the leasing market is doing well. The vacancy rate sits at 3.6%. This is actually slightly up this quarter, from 3.5% in Q4 2017. Currently just under 2,000,000s.f. is available in buildings under 100,000s.f. 18 spaces were leased in the first 90 days of the year and 36 spaces came on the market for lease.

INDUSTRIAL PROPERTY SALES

In the sales market, available properties continued to decline with only 82 properties currently for sale under 100,000s.f. For Q1 sales, the average prices per square foot was down around $40/s.f. The time on the market for the last few quarters as been rising with a current average of 18 months for a sale to take place. 21 properties traded in Q1 with only 15 new listings coming on the market.

Q4 2017

INDUSTRIAL PROPERTY LEASING

The third quarter of 2017 finished strong with positive trends across the board. Looking at the broader leasing market, the vacancy rate is down to 3.6%, down another 10 basis points. The total available square feet is 1,900,000. Down slightly from Q2. Asking rents backed off a little bit, on average $7.20/s.f. gross with the average months to lease at around 5 months. 24 leases where signed in Q3, with 34 new spaces coming on the market.

INDUSTRIAL PROPERTY SALES

In the sales market, the inventory of buildings under 100,000 continues to be very tight. Currently, there are 33 properties on the market. This is the same as at the end of Q3. The average sales price in Q4 was around $50/s.f. and the average months on market for sales was 5 months. 21 sales took place with only 10 new properties coming on the market.

Q3 2017

INDUSTRIAL PROPERTY LEASING

Overall the Will County industrial lease market continues to improve. The vacancy rate continues to decline and is currently around 2%. The total available space is around 600,000sf and asking rates continue to trend upward, currently at $7.40/s.f. In Q3, 26 lease transactions took place with 43 new spaces coming on the market.

INDUSTRIAL PROPERTY SALES

The sales market held steady. The total inventory was down to 32 available properties with sales prices being fairly variable each quarter, depending what properties sold. The average price at the end of Q3 was around $40/s.f. 29 properties traded in Q3 with only 18 new listings coming on the market.