Far East Office Space

Far East

Office Space Market Report

Number of Listings (last 90 days)
5
Median Rate ($/sqft/yr)
$44
Median Size (sqft)
290
As of: March 12, 2017

Far East Rates

On average, listings lease in the $40's per square foot per year. The Far East region is going through a a boost in rates. In the last 3 months, the median rate increased $20 per sqft per year. That's a 85% rise in rent.

Compared to the rest of the Chicagoland market, the Far East submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot region.

Far East Listing Supply

In the last 90 days, 5 listings have been listed, which means spaces are probably going fast. 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.

The standard measurement for office space in this area is around 290 sqft. Most buildings in this market are approximately 1 floors. Most buildings in this region were built in 1989 and are Class B.

Far East Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Far East folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Far East.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Far East.
Research