The typical asking rate per listing is in the $20's per square foot per year. The River West submarket is experiencing a a boost in rates. In the last 3 months, the median rate rose $28 per sqft per year.
Compared to the rest of the Chicagoland market, the River West submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 4 listings have been listed, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 1,220 sqft. Most properties in this market are around 3 stories. Most buildings in this market were built in 2008 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Most of the residents of River West work from home. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.