On average, listings lease in the $40's per square foot per year. The Upper Eastside submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Gold Coast market, the Upper Eastside region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 4 listings have been posted online, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 7,500 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 3 floors. Most buildings in this region were built in 1965 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Upper Eastside folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.