Chicago’s Top 10 Office Projects Currently Under Construction

Top Chicago Office Real Estate Construction Projects - Cawley Chicago

Chicago’s office real estate market is showing signs of renewed life after the initial effects of the pandemic, and real estate experts are cautiously optimistic about where the market is heading. A very positive sign is that there are still office real estate projects being constructed currently, and they are adding to the demand of inventory in the region.

Cawley Chicago pulls the Top 10 Office Projects Under Construction regularly to give an idea of the commercial real estate properties arising in the area.

Key Stats for Chicago Office Projects Under Construction

# of Properties: 24 (28 in Q4 2020)
Total Square Feet Under Construction: 4,561,781 (5,345,932 in Q4 2020)
Percent of Inventory Under Construction: 0.9% (1.1% in Q4 2020)
% of Preleased Property Space: 44.5% (42.7 in Q4 2020)

Top 10 Under Construction Office Projects in Chicago

1) BMO Tower – 320 S Canal St

Rating: 5
Building Square Feet: 1,463,000
Stories: 50
Project Start Date: March 2019
Project End Date: January 2022
Developer / Owner: Riverside Investment & Development

2) Salesforce Tower Chicago – 333 W Wolf Point Plz

Rating: 5
Building Square Feet: 1,200,202
Stories: 59
Project Start Date: April 2020
Project End Date: March 2023
Developer / Owner: Hines

3) Fulton Labs – 400 N Aberdeen St

Rating: 5
Building Square Feet: 423,454
Stories: 16
Project Start Date: July 2020
Project End Date: December 2021
Developer / Owner: Trammell Crow Company

4) 320 N Sangamon St

Rating: 5
Building Square Feet: 301,979
Stories: 13
Project Start Date: November 2019
Project End Date: March 2021
Developer / Owner: Tishman Speyer

5) Old Town Park Three – 224 W Hill St

Rating: 5
Building Square Feet: 175,000
Stories: 5
Project Start Date: March 2020
Project End Date: May 2021
Developer / Owner: Onni Group

6) 1045 W Fulton Market

Rating: 4
Building Square Feet: 159,900
Stories: 12
Project Start Date: December 2020
Project End Date: December 2021
Developer / Owner: Fulton St. Companies

7) 311 W Huron St

Rating: 4
Building Square Feet: 146,687
Stories: 15
Project Start Date: July 2020
Project End Date: April 2021
Developer / Owner: Urban Innovations

8) Hub Group Building 2 – 2000 Clearwater Dr

Rating: 4
Building Square Feet: 135,000
Stories: 4
Project Start Date: March 2020
Project End Date: September 2020
Developer / Owner: Not Listed / Hub Group, Inc

9) I-55 & I-80

Rating: 4
Building Square Feet: 100,00
Stories: 1
Project Start Date: November 2020
Project End Date: December 2021
Developer / Owner: Not Listed / Cullinan Companies LLC

10) 609 W Randolph St

Rating: 4
Building Square Feet: 75,000
Stories: 15
Project Start Date: January 2021
Project End Date: April 2022
Developer / Owner: Vista Property Group / Vista Property Group

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