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Illinois
Commercial Real Estate Listings
BuildingSearch.com has a wide variety of Kansas commercial real estate listings ranging from office space and retail to industrial properties and anything in between.
Illinois is the most populous and diverse Midwestern state in the country. Illinois is an important transportation hub. The Port of Chicago connects the Great Lakes to the Mississippi River via the Illinois River. Nearly 66% of the population resides in the northeastern corner of the state in the Chicago area. About 2,000 Native American hunters inhabited the Illinois area during the American Revolution. American settlers began arriving from Kentucky in the 1810s and they achieved statehood in 1818. Chicago was founded in the 1830s. Railroads and the invention of the steel plow made Illinois’ rich prairie into some of the best farmland in the country. By 1900, the growth of industry in northern cities and coal mining in the south attracted many immigrants from Europe, and made the state a major arsenal in both World Wars.
The 2006 total gross state product for Illinois was nearly $589 billion USD, placing it 5th in the nation.
Illinois commercial real estate provides space for an array of industries including agriculture. Illinois’s agricultural outputs are corn, soybeans, hogs, cattle, dairy products, and wheat. Illinois is the leading state in soybean production. Illinois is also a net importer for energy. The state exports electricity, ranking fifth among states in electricity production and seventh in electricity consumption. Energy sources in the state include coal, petroleum, nuclear power, wind power, and bio fuels.
Illinois commercial real estate obtains most of its activity in the city of Chicago. The market in Chicago has remained fairly strong over the last few years. In 2007 vacancy rates increased to 19.3%. The northern part of the metropolitan area has the slowest vacancy rate of all the markets. There has been increasing activity recently with several 100,000 SF plus buildings being leased. Construction continues to thrive with 534,295 SF completed in 2007. As we look forward expect the Illinois market to continue to be steadily strong and active.
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