The typical asking rate per listing is in the $30's per square foot per year. The Fulton Market submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Chicagoland market, the Fulton Market region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 115 listings have been posted online, so you'll want to check back regularly for new listings. About 11% of the available space in the Fulton Market are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this area were built in 1929 and are Class B.
This area is fairly equally mixed residential and commercial. Information is the dominant industry in this region. Most of the residents of Fulton Market work from home. Commuting approximately an hour 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 Fulton Market.
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