What major companies have headquarters in Northbrook and Deerfield?

The Northbrook-Deerfield corridor hosts major corporate headquarters including Walgreens Boots Alliance, Astellas Pharmaceutical, CF Industries, Underwriters Laboratories (UL), Crate & Barrel, and Takeda Pharmaceutical. The area has historically been home to Allstate (now headquartered downtown) and continues attracting pharmaceutical, healthcare, and professional services companies.

How much is office rent in Northbrook IL?

Northbrook office rents average $19 per square foot annually. Class A buildings near I-94 and Edens Expressway command $22-30/SF, while Class B space runs $16-22/SF. Current elevated vacancy provides significant negotiating leverage for tenants seeking quality space at favorable terms.

Why are companies relocating headquarters in this area?

The Northbrook-Deerfield corridor is experiencing significant change as companies right-size post-pandemic. CF Industries moved from Deerfield to Northbrook, reducing from 176,000 to 78,000 SF. Walgreens is selling portions of its Deerfield campus. This creates opportunities for tenants to access quality corporate-grade space at attractive pricing in established corporate parks.

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Northbrook & Deerfield Office Space

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Fortune 500Headquarters Cluster

Northbrook & Deerfield Office Space: Quick Facts for 2025

Corporate Headquarters Corridor: Northbrook and Deerfield form Chicago’s premier north suburban corporate cluster, hosting Walgreens Boots Alliance, Astellas Pharmaceutical, CF Industries, Underwriters Laboratories (UL), Takeda, and Crate & Barrel headquarters.

Rental Rates: Northbrook office rents average $19/SF annually. Class A space near I-94 commands $22-30/SF, while Class B buildings offer value at $16-22/SF. Current market conditions with companies right-sizing create opportunities for quality space at favorable terms.

Market Dynamics: The corridor is experiencing transition as companies adjust post-pandemic. CF Industries moved from 176,000 SF in Deerfield to 78,000 SF in Northbrook. Walgreens is selling portions of its campus. This creates tenant-favorable conditions for quality corporate space.

North Suburban Corporate Hub

The Northbrook-Deerfield corridor has long been Chicago’s pharmaceutical and healthcare headquarters cluster. Major employers including Walgreens, Astellas, and Takeda create an ecosystem attractive to related businesses and suppliers.

Current market dynamics favor tenants. As companies right-size their footprints, quality corporate-grade space becomes available at attractive pricing. Buildings designed for Fortune 500 headquarters offer amenities smaller companies rarely access.

Our Services: We provide expert tenant representation to help you capitalize on current market conditions and secure optimal lease terms in this established corporate corridor.

I-94

Direct Expressway Access

Affluent

North Shore Demographics

LEED

Certified Buildings Available

Metra

Commuter Rail Access

Our North Suburban Services

Expert commercial real estate services for businesses in the Northbrook-Deerfield corridor

Office Space Search

Access all Northbrook and Deerfield listings including corporate sublease opportunities from companies downsizing their footprints.

Lease Negotiation

Leverage current market conditions for significant concessions—rent reductions, free rent, tenant improvements, and flexible terms.

Lease Renewal

Don’t auto-renew at outdated rates. We analyze market conditions and negotiate improved terms for your existing space.

Why Northbrook-Deerfield?

Corporate Infrastructure

Buildings designed for Fortune 500 headquarters with premium finishes, advanced technology, and extensive amenities.

North Shore Access

Draw from affluent North Shore talent pool. Convenient for executives living in Winnetka, Glencoe, Highland Park, and Lake Forest.

O’Hare Proximity

20 minutes to O’Hare Airport via I-94. Ideal for businesses with frequent travel requirements or visiting clients.

Industry Cluster

Pharmaceutical, healthcare, and professional services cluster creates ecosystem benefits and talent concentration.

Frequently Asked Questions

What’s happening with corporate space in this area?

The Northbrook-Deerfield corridor is experiencing significant transition. Companies are right-sizing post-pandemic—CF Industries reduced from 176,000 to 78,000 SF, Walgreens is selling portions of its campus, and other companies have consolidated. This creates opportunities for tenants to access quality corporate-grade space at favorable terms.

How does this area compare to downtown Chicago?

Northbrook-Deerfield offers significant cost savings versus downtown (roughly 40-50% lower rents), easier parking, and access to North Shore executive talent. Many companies maintain north suburban operations while downtown serves client-facing functions. The corridor is ideal for operations, back-office, and companies with minimal downtown client interaction.

Are sublease opportunities available?

Yes, corporate downsizing has created substantial sublease inventory in the corridor. Sublease space typically offers 20-40% discounts versus direct deals, often with existing buildout and furniture. We track all available sublease opportunities and help tenants evaluate the best options for their needs.

Find Your North Suburban Office

Expert tenant representation to capitalize on current market conditions—at no cost to you.

Schedule Free Consultation Call (312) 840-9002