On average, listings lease in the $30's per square foot per year. The Downtown Chicago region is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Chicagoland market, the Downtown Chicago submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 4677 listings have been posted online, so you'll want to check back regularly for new listings. About 11% of the listings in the Downtown Chicago are subleases, so you might be able to snag a great spot on a short term. 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 2,790 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are close to 10 floors. Most buildings in this area were built in 1929 and are Class B.
Real time and historical data on commercial real estate listings in Downtown Chicago.
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