Most listings are in the $10's per square foot per year. The East Pilsen submarket is experiencing a a rise in rates. In the last 3 months, the median rate went up $18 per sqft per year.
Compared to the rest of the Chicagoland market, the East Pilsen submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 34 listings have been listed, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. About 3% of the available leases in the East Pilsen are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 8,340 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this area are close to 3 stories. Most buildings in this region were built in 1920 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this area. Commute by car is the most popular way to get to work amongst East Pilsen residents. Commuting under 5 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 East Pilsen.
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