On average, listings lease in the $10's per square foot per year. The Hammond region is seeing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 13% decrease in rent.
Compared to the rest of the Chicagoland market, the Hammond region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 3 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 700 sqft. Most buildings in this market are close to 2 floors. Most buildings in this area were built in 1961 and are Class B.