The typical asking rate per listing is in the $10's per square foot per year. The South Side submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $0 per sqft per year. That's a 2% rise in rent.
In the last 90 days, 38 listings have come on the market, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 24% of the office spaces in the South Side 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 3,000 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are approximately 1 stories. Most buildings in this market were built in 1995 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst South Side folk. Commuting around 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 South Side.
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