The typical asking rate per listing is in the $10's per square foot per year. The Elgin submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $15 per sqft per year. That's a 48% decline in rent.
Compared to the rest of the Chicagoland market, the Elgin submarket has lower rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 48 listings have been posted online, so you'll want to check back regularly for new listings. About 2% of the office spaces in the Elgin are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,220 sqft. Most buildings in this market are approximately 1 stories. Most buildings in this market were built in 1999 and are Class B.