On average, listings lease in the $30's per square foot per year. The Downtown Chicago region is experiencing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 4% rise in rent.
Compared to the rest of the Chicagoland market, the Downtown Chicago submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 371 listings have been made available, so you'll want to check back regularly for new listings. About 149% of the office spaces in the Downtown Chicago are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are approximately 10 floors. Most buildings in this area were built in 1929 and are Class B.