West Loop is a trophy-tier Class A submarket of Chicago with average asking rent around $70/sqft/yr.
Chicago's resurgent trophy quarter. · Tier: trophy · Avg rent: $70/sqft/yr
The West Loop has captured the bulk of trophy lease-up. Salesforce Tower Chicago, BMO Tower, and 150 N Riverside anchor the cluster. Strong Union Station / Ogilvie commuter rail adjacency.
Professional services, fintech, trading, top law firms.
30-50,000 sqft floor plates.
Union Station, Ogilvie, CTA Brown/Pink/Orange/Green.
Best commuter rail access in Chicago.
Riverwalk, Restaurant Row (Randolph Street), Fulton Market.
West Loop is one of 6 Class A submarkets we cover in Chicago, classified as trophy tier with an average asking rent around $70/sqft/yr. Compared with the broader Chicago Class A stock, West Loop typically attracts Professional services, fintech, trading, top law firms and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside West Loop: The Loop, Fulton Market, River North, West Loop Gate. The full Chicago submarket atlas is at /cities/chicago.
For an institutional Class A occupier evaluating West Loop, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Chicago Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.