Most listings are in the $30's per square foot per year. The Noble Square submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Chicagoland market, the Noble Square submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 3 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 2,550 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are around 3 floors. Most buildings in this region were built in 1960 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this region. Commute by taxi is the most popular way to get to work amongst Noble Square folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.