Most listings are in the $30's per square foot per year. The Near North Side submarket is going through a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the Chicagoland market, the Near North Side region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 1043 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available leases in the Near North Side are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are close to 5 floors. Most buildings in this region were built in 1926 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Near North Side occupants. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Near North Side.
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