On average, listings lease in the $30's per square foot per year. The Downtown Chicago submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Chicagoland market, the Downtown Chicago submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 371 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the listings in the Downtown Chicago are subleases, so you will probably have to consider a longer term 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 2,810 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 12 stories. Most buildings in this region were built in 1929 and are Class B.