Most listings are in the $40's per square foot per year. The Upper Eastside submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 22% decrease in rent.
Compared to the rest of the Gold Coast market, the Upper Eastside submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 1 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,170 sqft. Most properties in this region are close to 3 floors. Most buildings in this market were built in 1965 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Upper Eastside residents. Commuting approximately 20 minutes a day is the norm for those who opt to reside in this part of town.