Near West Side Office Space

Near West Side

Office Space Market Report

Number of Listings (last 90 days)
20
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
2,410
As of: June 23, 2017

Near West Side Rates

On average, listings lease in the $30's per square foot per year. The Near West Side region is seeing a a rise in rates. In the last 3 months, the median rate rose $30 per sqft per year.

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

Near West Side Listing Supply

In the last 90 days, 20 listings have been listed, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 70% of the available space in the Near West Side are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

The standard measurement for office space in this area is around 2,410 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this area were built in 1925 and are Class B.

Near West Side Community

Market Report

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

Market Data

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