Rental Vacancy Rate for Illinois was 6.50% in January of 2024, according to the United States Federal Reserve. Historically, Rental Vacancy Rate for Illinois reached a record high of 14.80 in January of 2004 and a record low of 5.90 in January of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for Rental Vacancy Rate for Illinois - last updated from the United States Federal Reserve on July of 2025.

The LTR Genie Score of Chicago, IL is 50, indicating a moderate level of rentability for long-term rental properties in the area. This is likely influenced by the relatively low LTR Rentability and 1-Year Price Appreciation Forecast. On the other hand, the STR Genie Score is 75, suggesting a high level of rentability for short-term rental properties. This is supported by the high STR Net ROI and STR Occupancy rate. Comparing the LTR and STR Genie Scores, it is evident that the short-term rental market in Chicago is more favorable for investors compared to the long-term rental market. The higher STR Genie Score and Net ROI indicate that investing in short-term rental properties may yield better returns in this market.Overall, Chicago, IL appears to be more attractive for short-term rental investment rather than long-term rental investment. The forecasted negative price appreciation for long-term rentals and the higher potential for ROI in the short-term rental market make it a more appealing option for real estate investors in this area.Chicago, IL is a major metropolitan city known for its diverse neighborhoods, cultural attractions, and strong job market. The city offers a mix of urban living and suburban charm, making it a popular choice for both residents and tourists. Investors should consider the unique characteristics of each neighborhood in Chicago when evaluating potential real estate opportunities.

The average rent per square foot in the largest research and development (R&D) and life science real estate markets in the United States varied greatly in the first half of 2023. New York City, Chicago, and San Francisco Bay Area were the most expensive markets to rent life science real estate in the first half of 2023. On average, a square foot of life science real estate cost about ***** U.S. dollars to buy in the same period.

Among the ** markets with the largest industrial and logistics real estate inventory in the U.S., Orange County, CA, had the highest rental rate in the first quarter of 2025. The square footage rent of warehouse and distribution centers was ***** U.S. dollars, while for manufacturing sites it was ***** U.S. dollars. In the largest market, Chicago, IL, rents were significantly lower, at ****U.S. dollars.

The commercial kitchen equipment rental market is experiencing robust growth, driven by the increasing popularity of pop-up restaurants, food trucks, catering businesses, and short-term events. The rising demand for flexible and cost-effective solutions for culinary operations is fueling market expansion. Businesses are increasingly opting to rent equipment rather than invest in expensive upfront purchases, especially during periods of uncertainty or when scaling operations. This trend is particularly evident in urban areas with high rental costs and limited storage space. Furthermore, the market is benefiting from technological advancements, with companies offering streamlined online booking systems and efficient delivery services. However, market growth may be slightly constrained by factors such as fluctuating demand dependent on economic cycles and potential equipment shortages during peak seasons. The competition is relatively fragmented, with a mix of large national players like PKL Group and Nisbets alongside smaller regional operators and specialized rental companies. The companies listed demonstrate a broad range of service offerings, catering to diverse customer segments within the industry. Future growth will likely be driven by continued innovation in equipment design and rental models that enhance convenience, efficiency, and sustainability. The market's Compound Annual Growth Rate (CAGR) suggests a consistent trajectory of growth, although the precise figures are not provided. Considering similar industries and growth patterns, we can logically infer a CAGR in the range of 5-7% for the period 2025-2033, translating to a steady increase in market size. Key segments within the market likely include cooking equipment (ovens, stoves), refrigeration (refrigerators, freezers), dishwashing equipment, and smaller items such as blenders and mixers. Geographical data, although unavailable, would likely show significant market penetration in densely populated urban areas and regions with strong culinary scenes. The current market players reflect the diversity of the rental landscape, indicating a competitive marketplace with different pricing and service models serving diverse needs. The overall market is poised for sustained expansion as the food service industry continues to evolve and adapt.

The US commercial real estate (CRE) market, valued at $1.66 trillion in 2025, is projected to experience steady growth, driven by several key factors. Strong economic fundamentals, including a robust job market and increasing demand for office, retail, and industrial space in major metropolitan areas like New York, Los Angeles, and Chicago, contribute to this positive outlook. The ongoing expansion of e-commerce fuels the demand for logistics and warehousing facilities, while the multi-family sector benefits from population growth and urbanization trends. However, rising interest rates and potential economic slowdown pose challenges, potentially impacting investment activity and rental growth. The diverse range of property types within the CRE market creates opportunities and risks. Office space faces ongoing adaptation to hybrid work models, requiring landlords to enhance amenities and improve workplace flexibility. Retail spaces are undergoing transformation, with a focus on experiential retail and omni-channel strategies to compete with online retailers. The industrial and logistics sector remains strong, driven by continued e-commerce growth and supply chain optimization efforts. Competition among CRE companies like Zillow, Keller Williams, and CBRE remains fierce, emphasizing the need for innovation in property management and technological advancements in market analysis and transaction processes. While several cities experience robust growth, others might face localized challenges that influence individual market dynamics. The overall trajectory suggests a moderate expansion, albeit with variations across sectors and geographic locations. Careful consideration of these factors is crucial for successful investment and strategic decision-making within the US CRE industry. The forecast period of 2025-2033 suggests a continuation of these trends. While the 2.61% CAGR indicates a moderate growth rate, significant variations are expected across specific segments. The industrial and logistics sectors are likely to outperform others due to sustained demand, while office space may exhibit slower growth reflecting the ongoing adjustments to hybrid work. Regional variations will also be significant, with major metropolitan areas and technology hubs likely leading the growth trajectory. Understanding these nuances and deploying appropriate risk mitigation strategies will be vital for all stakeholders in the US commercial real estate market. This comprehensive report provides an in-depth analysis of the USA commercial real estate industry, covering the period from 2019 to 2033. With a focus on key market segments – offices, retail, industrial, logistics, multi-family, and hospitality – across major cities like New York, Los Angeles, Chicago, San Francisco, Boston, Denver, Houston, Phoenix, Atlanta, and Salt Lake City, this report offers invaluable insights for investors, developers, and industry professionals. The study utilizes 2025 as the base and estimated year, with a forecast period spanning 2025-2033 and a historical period covering 2019-2024. This report projects the market value in the billions of dollars, providing granular data and analysis of market dynamics. Key drivers for this market are: Increasing number of startups. Potential restraints include: Low Awareness and Privacy Issues. Notable trends are: Industrial Sector Expected to Record High Demand.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at *** U.S. dollars per square foot and Las Vegas for single-family homes between *** and *** U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over ***** more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over **** percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.