The typical asking rate per listing is in the $30's per square foot per year. The Northwest Elgin submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 8% rise in rent.
Compared to the rest of the Chicagoland market, the Northwest Elgin submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 48 listings have come on the market, so you'll want to check back regularly for new listings. About 2% of the listings in the Northwest Elgin are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 2,850 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 1 stories. Most buildings in this market were built in 1999 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this market. Most of the folk of Northwest Elgin work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.