The typical asking rate per listing is in the $40's per square foot per year. The River North region is experiencing a an increase in rates. In the last 3 months, the median rate rose $5 per sqft per year. That's a 13% rise in rent.
Compared to the rest of the Chicagoland market, the River North region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 26 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 27% of the available leases in the River North are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,190 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are around 6 floors. Most buildings in this area were built in 1920 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.