Chicago Industrial Market Gains Momentum in 2026

The Metropolitan Chicago industrial market saw fundamentally healthy and increasingly demand-driven in 2026, according to a recent report by Cushman & Wakefield.

Chicago’s industrial vacancy rate held steady at 4.8% for the third consecutive quarter, while new leasing activity reached its highest mid-year total since 2022. “Chicago’s industrial market continues to demonstrate remarkable resilience and balance,” said Greg Rogalla, Cushman & Wakefield Senior Research Manager.

The Chicago industrial market recorded 21.8 million square feet of new leasing activity through mid-year 2026, representing an 11.1% increase year-over-year. Demand was led by continued strength in the big-box segment, reinforcing Chicago’s position as one of North America’s premier logistics and distribution markets.

Despite ongoing deliveries, market fundamentals remained stable during the quarter. The overall vacancy rate increased just 10 basis points year-over-year, underscoring the market’s ability to absorb new supply while maintaining healthy occupancy levels. Rental growth also continued, with the overall average net asking rent reaching $7.55 per square foot, reflecting a nearly 1% year-over-year increase and a 2.8% quarter-over-quarter increase.