The typical asking rate per listing is in the $30's per square foot per year. The Noble Square region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Chicagoland market, the Noble Square submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been made available, which means new availabilities most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 2,550 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 3 floors. Most buildings in this area were built in 1960 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Company management is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Noble Square residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.