On average, listings lease in the $30's per square foot per year. The Streeterville region is seeing a a boost in rates. In the last 3 months, the median rate increased $40 per sqft per year.
Compared to the rest of the Chicagoland market, the Streeterville submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 50 listings have been listed, so you'll want to check back regularly for new listings. About 42% of the listings in the Streeterville 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 2,100 sqft. Most properties in this market are close to 24 floors. Most buildings in this market were built in 1965 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Streeterville folk. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.