The typical asking rate per listing is in the $20's per square foot per year. The Edgewater submarket is experiencing a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 4% increase in rent.
Compared to the rest of the Chicagoland market, the Edgewater region has less expensive rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 6 listings have come on the market, which means leases most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 3,100 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are around 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 area. Commute by motorcycle is the most popular way to get to work amongst Edgewater occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.