The typical asking rate per listing is in the $40's per square foot per year. The River North submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $42 per sqft per year.
Compared to the rest of the Chicagoland market, the River North submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 45 listings have come on the market, so you'll want to check back regularly for new listings. About 87% of the available space 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 2,940 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this region were built in 1915 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this region. 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.