Q1 2026 Chicago Industrial Market Report

The Chicagoland industrial market saw total vacancy drop slightly to 5.51% at the end of the 1st quarter. This was due to direct vacancy decreasing to 5.07%. Sublease vacancy also decreased, down to 0.44%. The total amount of direct vacant space on the market dipped to 72,320,452 square feet. This marks a downturn from the 5-year peak of 77,087,881 square feet experienced in Q3 of 2025.