On average, listings lease in the $0's per square foot per year. The West Loop region is experiencing a decrease in rates. In the last 3 months, the median rate fell $30 per sqft per year. That's a 100% decline in rent.
In the last 90 days, 2 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to make an offer immediately. About 100% of the available leases in the West Loop 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 posted, so finding a space for a small business might be tough.
Even though the median size is 14,800 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 22 floors. Most buildings in this region were built in 1965 and are Class A.
This area is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this region. Commute by bike is the most popular way to get to work amongst West Loop folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.