The typical asking rate per listing is in the $20's per square foot per year. The Morgan Park region is experiencing a a rise in rates. In the last 3 months, the median rate increased $26 per sqft per year. That's a Inf% rise in rent.
Compared to the rest of the Chicagoland market, the Morgan Park region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 4 listings have come on the market, which means new availabilities might be going fast. You'll want to be prepared to tour spaces as quick as possible. 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 1,200 sqft. Most properties in this area are close to 1 stories. Most buildings in this region were built in 2000 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by car is the most popular way to get to work amongst Morgan Park folk. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.