The typical asking rate per listing is in the $30's per square foot per year. The South Loop region is seeing a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Chicagoland market, the South Loop region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 21 listings have been posted online, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 2,670 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 4 floors. Most buildings in this region were built in 1922 and are Class B.