Chicago data center market

Power availability in Chicago: DCPI verdict AVOID, composite score 25 of 100, as of 2026-10-20. Source: DC Hub.

Data Center Market Deep-Dive · 291 words · generated 2026-10-20 from live DC Hub data · DCPI live as of 2026-10-20

This analysis was written on 2026-10-20, when the Data Center Power Index for this market read 26.9. The index is recomputed through the day and reads 25.0 now — the figure above is the live one, and the narrative below describes the market as it stood when it was written.

Colocation lease rates in Chicago

Broker lease rates (CBRE/JLL): available on paid plans. Asking base rent per kW of critical IT capacity. Electricity is normally billed separately (metered pass-through), plus cross-connects and one-time fees. Signed deals, term and size change the number. Source: CBRE North America Data Center Trends H1 2026 (250+ kW): Chicago (link)

Chicago's data center footprint spans tracked facilities totaling 1,563 MW, concentrated among four operators: Digital Realty leads with 17 properties, followed by NTT and Equinix at 6 each, and Centersquare at 5. The market has demonstrated institutional maturity, evidenced by a $750 million DigiCo Infrastructure REIT exit and ongoing conversion activity—notably a Chicago Loop office-to-data-center conversion at 300 West Adams Street that cleared municipal approval. The suburban ring hosts approximately 170 additional facilities, reinforcing the region's dual-market structure.

For buyers, this combination argues against greenfield or brownfield acquisitions predicated on power-intensive growth scenarios. Capital deployed here will compete for scarce kilowatt availability and face elevated interconnection timelines. Sellers, conversely, may find this backdrop supportive of near-term exit valuations, particularly for assets with locked power contracts or existing utility relationships.

Deal flow remains opaque: recent M&A entries attributed to Digital Realty lack confirmation details, suggesting either portfolio housekeeping or incomplete transaction records. The absence of large operator-announced expansion rounds contrasts with the $750 million DigiCo sale and points to a consolidation-focused rather than growth-focused acquisition cycle. Digital Realty's dominance—commanding 17 of 304 tracked sites—reflects historical market concentration; no rival operator has announced capacity additions of comparable scale. The presence of conversion opportunities (300 West Adams) signals demand for colocation and edge-proximate capacity, yet planning timelines and retrofit economics remain uncertain.

Data centers in Chicago

Largest first by reported MW (blank where not reported). Unverified directory listings are not shown.

Browse every data center in Illinois.

JSON: /api/v1/markets/chicago/deep-dive · DCPI: /dcpi · Operators: /operators · Narrative written 2026-10-20, refreshed on a rolling schedule (about monthly per market); the DCPI score, MW total and facility records above are read live at page load