On average, listings lease in the $30's per square foot per year. The Bucktown submarket is going through a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 14% decline in rent.
Compared to the rest of the Chicagoland market, the Bucktown region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means new listings 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 posted, 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 region are close to 2 floors. Most buildings in this market were built in 1940 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Bucktown folk. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.