On average, listings lease in the $20's per square foot per year. The Pilsen region is going through a a rise in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 11% increase in rent.
Compared to the rest of the Chicagoland market, the Pilsen submarket has greater 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 leases might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,100 sqft. Most buildings in this area are close to 3 stories. Most buildings in this market were built in 1909 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Pilsen occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.