The typical asking rate per listing is in the $30's per square foot per year. The Near North Side region is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Chicagoland market, the Near North Side submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 130 listings have been listed, so you'll want to check back regularly for new listings. About 8% of the available space in the Near North Side are subleases, so you will probably have to consider a longer term lease. 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 3,360 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 6 stories. Most buildings in this area 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 area. 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.