The typical asking rate per listing is in the $30's per square foot per year. The The Loop submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Chicagoland market, the The Loop region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 212 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the office spaces in the The Loop are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,500 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 23 floors. Most buildings in this area were built in 1929 and are Class A.