On average, listings lease in the $20's per square foot per year. The River West submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $12 per sqft per year. That's a 36% decrease in rent.
In the last 90 days, 80 listings have come on the market, so you'll want to check back regularly for new listings. About 10% of the office spaces in the River West are subleases, so you will probably have to focus your search on direct office leases. 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 2,090 sqft. Most properties in this region are close to 2 floors. Most buildings in this area were built in 1992 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this market. Most of the folk of River West work from home. Commuting around 30 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 River West.
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