The typical asking rate per listing is in the $30's per square foot per year. The The Loop region is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Chicagoland market, the The Loop region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 200 listings have been posted online, so you'll want to check back regularly for new listings. About 209% of the available space in the The Loop 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 2,490 sqft. Most properties in this region are around 23 floors. Most buildings in this region were built in 1929 and are Class B.