Most listings are in the $20's per square foot per year. The Streeterville submarket is going through a decrease in rates. In the last 3 months, the median rate fell $21 per sqft per year. That's a 47% decline in rent.
Compared to the rest of the Chicagoland market, the Streeterville submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 33 listings have been listed, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available leases in the Streeterville 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 7,540 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 24 floors. Most buildings in this market were built in 1965 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by bike is the most popular way to get to work amongst Streeterville folk. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.