Most listings are in the $20's per square foot per year. The South Loop submarket is going through a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Chicagoland market, the South Loop submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 276 listings have been made available, so you'll want to check back regularly for new listings. About 8% of the office spaces in the South Loop are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,350 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 4 floors. Most buildings in this market were built in 1925 and are Class B.
Real time and historical data on commercial real estate listings in South Loop.
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