On average, listings lease in the $30's per square foot per year. The River North submarket is going through a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Chicagoland market, the River North region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 44 listings have been made available, so you'll want to check back regularly for new listings. About 23% of the available space in the River North are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,630 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 6 floors. Most buildings in this region 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.