On average, listings lease in the $20's per square foot per year. The O'Hare submarket is going through a a boost in rates. In the last 3 months, the median rate rose $1 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Chicagoland market, the O'Hare submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 249 listings have been posted online, so you'll want to check back regularly for new listings. About 6% of the office spaces in the O'Hare are subleases, so you will probably have to focus your search on direct office leases. 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 6,910 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are around 11 stories. Most buildings in this area were built in 1984 and are Class A.
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 walking is the most popular way to get to work amongst O'Hare residents. Commuting close to 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 O'Hare.
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