Compared to the rest of the Chicagoland market, the Valparaiso submarket has lower rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 3 listings have been posted online, which means leases most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,450 sqft. Most buildings in this market are approximately 2 stories. Most buildings in this area were built in 1979 and are Class B.