The typical asking rate per listing is in the $30's per square foot per year. The River North submarket is going through a a boost in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Chicagoland market, the River North submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 45 listings have been posted online, so you'll want to check back regularly for new listings. About 13% of the listings 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 available, 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 buildings in this area are approximately 6 floors. Most buildings in this market were built in 1918 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.