The typical asking rate per listing is in the $30's per square foot per year. The Elgin region is experiencing a a boost in rates. In the last 3 months, the median rate went up $11 per sqft per year. That's a 53% increase in rent.
Compared to the rest of the Chicagoland market, the Elgin region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 319 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available space in the Elgin 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,500 sqft. Most buildings in this market are close to 1 floors. Most buildings in this region were built in 1993 and are Class B.
Real time and historical data on commercial real estate listings in Elgin.
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