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Near North Side Commercial Real Estate For Lease

Near North Side

Market Report

Number of Listings For Lease
Posted in the last 180 days
147
Median Rate ($/sqft/yr)
$42
Median Size (sqft)
300

Near North Side Commercial Real Estate

Find Near North Side commercial real estate for sale and for lease on 42Floors, the commercial real estate search engine. Listings cover all types of properties including Retail, Office Space, Industrial, Medical and much more. Find a Near North Side commercial real estate broker in Near North Side's Top Broker Directory. Learn about Near North Side commercial real estate trends in 42Floors Research. Learn tips, tricks, and jargon about leasing or buying commercial real estate in 42Floors EDU.

Near North Side Rates

The typical asking rate per commerial real estate listing leases is in the $40's per square foot per year. The Near North Side region is experiencing a a boost in rates. In the last 3 months, the median rate for lease rose $3 per sqft per year. That's a 7% rise in rent.

Compared to the rest of the Chicagoland commercial real estate market, the Near North Side submarket has higher rates for rent, and you may need to pay a premium to be in this hot submarket.

Near North Side Listing Supply

In the last 180 days, 1043 commercial real estate listings have been listed, so you'll want to check back regularly for new listings. About 1% of the commercial real estate listings in the Near North Side are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.

The standard size for office space in this area is around 300 sqft. Most properties in this region are around 5 floors. Most buildings in this region were built approximately 1925 and are Class B.

Near North Side Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Near North Side folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Near North Side.
Research