The typical asking rate per listing is in the $10's per square foot per year. The Abbott Loop region is going through a decline in rates. In the last 3 months, the median rate fell $24 per sqft per year. That's a 60% decrease in rent.
In the last 90 days, 28 listings have come on the market, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Abbott Loop 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,200 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this market were built in 1986 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Abbott Loop residents. Commuting more than an hour and a half 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 Abbott Loop.
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