The typical asking rate per listing is in the $10's per square foot per year. The Southwest Side submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the Chicagoland market, the Southwest Side region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 6 listings have been listed, which means new availabilities might be leasing quickly. You'll want to be prepared to make an offer immediately. About 17% of the available space in the Southwest Side 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.
The standard measurement for office space in this area is around 2,200 sqft. Most properties in this market are close to 1 stories. Most buildings in this area were built in 1952 and are Class A.