The typical asking rate per listing is in the $10's per square foot per year. The Liberty Square 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 22% decline in rent.
Compared to the rest of the Chicagoland market, the Liberty Square submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 7 listings have been posted online, which means office spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 14% of the available leases in the Liberty Square are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,480 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this region were built in 2003 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Liberty Square residents. Commuting between 20 and 25 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 Liberty Square.
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