On average, listings lease in the $30's per square foot per year. The Lakeview submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $12 per sqft per year. That's a 42% rise in rent.
Compared to the rest of the Chicagoland market, the Lakeview submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 11 listings have been listed, which means new availabilities 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 available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,500 sqft. Most buildings in this region are around 3 floors. Most buildings in this market were built in 2004 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this area. Commute by motorcycle is the most popular way to get to work amongst Lakeview residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.