The typical asking rate per listing is in the $40's per square foot per year. The River North region is experiencing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Chicagoland market, the River North submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 45 listings have been listed, so you'll want to check back regularly for new listings. About 76% of the office spaces in the River North are subleases, so you might be able to snag a great spot on a short term. 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 2,300 sqft. Most properties in this area are close to 6 floors. Most buildings in this area were built in 1915 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Health care is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst River North occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.