On average, listings lease in the $20's per square foot per year. The Downtown Milwaukee submarket is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 3% rise in rent.
Compared to the rest of the Milwaukee market, the Downtown Milwaukee region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 39 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 5% of the available space in the Downtown Milwaukee are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,870 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 6 stories. Most buildings in this area were built in 1916 and are Class B.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this area. Commute by car is the most popular way to get to work amongst Downtown Milwaukee occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.