The typical asking rate per listing is in the $20's per square foot per year. The Downtown Milwaukee submarket is going through a decline in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 13% decline in rent.
Compared to the rest of the Milwaukee market, the Downtown Milwaukee submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 115 listings have come on the market, so you'll want to check back regularly for new listings. About 68% of the listings in the Downtown Milwaukee 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 available, so finding a space for a small business might be tough.
Even though the median size is 4,640 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this region were built in 1913 and are Class A.
A large portion of this market is residential, but there's plenty of office_space. Finance and insurance are the dominant industries in this region. Commute by car is the most popular way to get to work amongst Downtown Milwaukee folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.