The typical asking rate per listing is in the $20's per square foot per year. The Historic Third Ward region is going through a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 18 listings have been made available, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 8,359 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 5 stories. Most buildings in this region were built in 1913 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Historic Third Ward residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.