Figures

Chicago Industrial Figures Q3 2026

October 9, 2026 10 Minute Read

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  • Chicago's industrial vacancy reached 5.5% in Q3 2026, marking a second consecutive quarterly decline and a 30-basis-point year-over-year drop, as large-scale occupancies outpaced new deliveries.

 

  • Net absorption increased 52.0% year-over-year to 3.6 million sq. ft. in Q3 2026, as tenants moved into space secured during the market slowdown of 2024 and early 2025. Year-to-date absorption reached 12.4 million sq. ft., with Joliet accounting for 6.3 million sq. ft., or more than half of the total market.

 

  • The development pipeline increased 10.4% quarter-over-quarter to 13.2 million sq. ft. across 41 properties, with speculative projects comprising 54% of the total. Tightening Class A availability is reshaping developer behavior as firms activate build-to-suit sites for speculative construction, a trend for big-box projects expected to accelerate in Q4 2026.

 

  • Leasing activity totaled 15.4 million sq. ft. across 170 transactions in Q3 2026. Amazon led the market with a 1.2 million sq. ft. lease in Crown Point, while the Far Southwest Suburbs, South Suburbs, and O'Hare collectively accounted for 42% of volume.