On average, listings lease in the $20's per square foot per year. The Heart of Chicago submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $22 per sqft per year. That's a Inf% increase in rent.
Compared to the rest of the Chicagoland market, the Heart of Chicago submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 1 listings have come on the market, which means leases 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,100 sqft. Most buildings in this region are close to 4 stories. Most buildings in this region were built in 1892.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Heart of Chicago folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.