The typical asking rate per listing is in the $30's per square foot per year. The South Loop submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $7 per sqft per year. That's a 22% rise in rent.
Compared to the rest of the Chicagoland market, the South Loop submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 276 listings have been made available, so you'll want to check back regularly for new listings. About 8% of the available space in the South Loop are subleases, so you will probably have to consider a longer term lease. 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 3,350 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are around 4 stories. Most buildings in this area were built in 1928 and are Class B.
Real time and historical data on commercial real estate listings in South Loop.
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