Near North Side Office Space

Near North Side

Office Space Market Report

Number of Listings (last 90 days)
128
Median Rate ($/sqft/yr)
$36
Median Size (sqft)
2,770
As of: February 23, 2017

Near North Side Rates

The typical asking rate per listing is in the $30's per square foot per year. The Near North Side submarket is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.

Compared to the rest of the Chicagoland market, the Near North Side region has higher rates, and you'll need to pay a premium to be in this hot region.

Near North Side Listing Supply

In the last 90 days, 134 listings have come on the market, so you'll want to check back regularly for new listings. About 4% of the listings in the Near North Side are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,810 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 6 floors. Most buildings in this area were built in 1926 and are Class B.

Near North Side Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Near North Side folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Near North Side.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Near North Side.
Research