I’ve noticed lately that when clients ask me to find rental spaces for them “at the lowest rental rates”, I keep going back to Schaumburg properties. Even though counties like DuPage offer lower taxes per square foot, which gives the impression that overall rents would be lower, it just isn’t the case.
Last year when I was searching either for office or industrial and retail spaces for clients, I went running to towns like Roselle and Bloomingdale, but now I’m heading back to Schaumburg.
The reason I believe I’m finding lower rents in the Schaumburg area, in spite of higher Cook County taxes, is that there are so many more vacancies in Schaumburg. A recent Crain’s article sited Schaumburg as a Chicago office market where “deals for tenants are plentiful, with aggressive rents and concession packages becoming the norm” due to an “overall vacancy rate is more than 26%”. Landlords have been forced to reduce their base rents to attract new tenants and/or retain existing ones, making them more competitive with surrounding town and even with one another with the Schaumburg market.
This is a good opportunity for businesses. Well known for being a secondary office market in the Chicagoland area and the hub of the Northwest Suburb’s commercial industry, Schaumburg offers area businesses the same low rent opportunities as adjoining and less conveniently-located towns.
Overall Schaumburg has become my go-to economical rent destination.
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