Most listings are in the $40's per square foot per year. The Ranch Triangle submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 21% increase in rent.
Compared to the rest of the Chicagoland market, the Ranch Triangle submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 18 listings have been posted online, which means leases are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the listings in the Ranch Triangle 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 570 sqft. Most properties in this region are approximately 2 floors. 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 region. Commute by motorcycle is the most popular way to get to work amongst Ranch Triangle folk. 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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