On average, listings lease in the $20's per square foot per year. The Edgewater submarket is going through a a rise in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 13% rise in rent.
Compared to the rest of the Chicagoland market, the Edgewater submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 10 listings have come on the market, which means new listings 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.
Even though the median size is 3,100 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are approximately 2 stories. Most buildings in this area were built in 1928 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Edgewater 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.