On average, listings lease in the $20's per square foot per year. The South Loop submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $6 per sqft per year. That's a 29% rise in rent.
In the last 90 days, 13 listings have been made available, which means new availabilities might be going fast. You'll want to be prepared to make an offer immediately. About 62% of the office spaces in the South Loop are subleases, so you might be able to find a shorter term or below market rent. 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 1,300 sqft. Most buildings in this area are close to 3 floors. Most buildings in this area were built in 1982 and are Class A.
This area is fairly equally mixed residential and commercial. Health care is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst South Loop folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.