Most listings are in the $30's per square foot per year. The Ranch Triangle submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 15% rise in rent.
Compared to the rest of the Chicagoland market, the Ranch Triangle submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 18 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 28% of the office spaces in the Ranch Triangle 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 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 740 sqft. Most buildings in this area are close to 2 stories. Most buildings in this market were built in 1939 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Ranch Triangle occupants. Commuting between 30 and 45 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 Ranch Triangle.
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