On average, listings lease in the $20's per square foot per year. The West Town submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Chicagoland market, the West Town region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 29 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,700 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this area were built in 1937 and are Class B.