Elmhurst's Vacancy Rate Lower Than DuPage's: City

ELMHURST, IL – With high interest rates, Elmhurst's housing market cooled this year.

But because of the city's closeness to O'Hare, its business parks continued to be highly sought after, according to the city's budget memo last week.

Earlier this year, the Monarch Business Park opened, providing more than 430,000 square feet of office and warehouse space, the city said.

Overall, the city's industrial vacancy rate is about half a percent, compared with DuPage County's 5.8 percent, the memo said.

The memo also said Elmhurst's shopping districts are highly sought after. Such retail space has a 2.2 percent vacancy rate, compared with 7.5 percent countywide.

New commercial tenants this year include Ella's Italian Pub, Phase Three Brewing, Beer on the Wall, Maharaj Indian Grill and Five Below, the city said.

In 2022, construction of the six-story Vyne on Haven started. It is set to include 204 apartments.

The complex is expected to be completed early next year.