On average, listings lease in the $10's per square foot per year. The Palos Hills region is seeing a decline in rates. In the last 3 months, the median rate decreased $10 per sqft per year. That's a 35% decline in rent.
Compared to the rest of the Chicagoland market, the Palos Hills submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 17 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 6% of the available space in the Palos Hills are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this region are approximately 1 stories. Most buildings in this region were built in 1982 and are Class B.
Real time and historical data on commercial real estate listings in Palos Hills.
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