The typical asking rate per listing is in the $30's per square foot per year. The Lakeview region is seeing a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Chicagoland market, the Lakeview region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 11 listings have been listed, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 1,900 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this market were built in 2002 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Lakeview occupants. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.