On average, listings lease in the $30's per square foot per year. The Near North Side region is seeing a a rise in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the Chicagoland market, the Near North Side region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 104 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the available space in the Near North Side 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,620 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 6 floors. Most buildings in this region were built in 1929 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Near North Side occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.