Most listings are in the $40's per square foot per year. The West Loop submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $11 per sqft per year. That's a 34% increase in rent.
Compared to the rest of the Chicagoland market, the West Loop submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 173 listings have been listed, so you'll want to check back regularly for new listings. About 5% of the available space in the West Loop are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 15,480 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 18 stories. Most buildings in this area were built in 1965 and are Class A.
This region is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst West Loop occupants. Commuting more than an hour and a half 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 West Loop.
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