From the 2016 Port Authority Annual Report:
Commercial Vacancies in Lake County – Rentable Buildable Area in Square Feet as of 9/30/16
Retail Space – 16,597,166
Industrial Space – 37,773,326
Office Space – 4,560,120
3rd Quarter 2016 Vacancy % (5% is deemed acceptable)
Retail Space – 6.2%
Industrial Space – 2.3%
Office Space – 9.2%
Average Rent Per Square Foot:
Retail Space – $10.07 (triple net) (real estate taxes, building insurance, building maint.)
Industrial Space – $3.98 (triple net)
Office Space – $12.05 (triple net)
They are concerned that there is not enough industrial space available to attract larger manufacturers.
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