The typical asking rate per listing is in the $30's per square foot per year. The Downtown Chicago submarket is going through a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Chicagoland market, the Downtown Chicago region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 377 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the listings in the Downtown Chicago 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 3,511 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are approximately 12 floors. Most buildings in this region were built in 1929 and are Class A.