The typical asking rate per listing is in the $30's per square foot per year. The West Loop region is going through a a rise in rates. In the last 3 months, the median rate rose $33 per sqft per year.
Compared to the rest of the Chicagoland market, the West Loop region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 3 listings have been listed, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 333% of the available leases in the West Loop are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 18,990 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 22 floors. Most buildings in this area were built in 1965 and are Class A.
This market is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst West Loop residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.