The typical asking rate per listing is in the $30's per square foot per year. The Pilsen submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $22 per sqft per year. That's a 142% increase in rent.
Compared to the rest of the Chicagoland market, the Pilsen submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 1 listings have been listed, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 100% of the available leases in the Pilsen are subleases, so you might be able to snag a great spot on a short term. 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 1,700 sqft. Most properties in this market are approximately 3 stories. Most buildings in this area were built in 1912 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Pilsen occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.