Most listings are in the $30's per square foot per year. The Historic Third Ward submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 7% rise in rent.
Compared to the rest of the Milwaukee market, the Historic Third Ward submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 19 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 5% of the listings in the Historic Third Ward are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 3,320 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 5 floors. Most buildings in this market were built in 1913 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Utilities is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Historic Third Ward folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.