The typical asking rate per listing is in the $30's per square foot per year. The Near North Side region is experiencing a decrease in rates. In the last 3 months, the median rate fell $8 per sqft per year. That's a 19% decrease in rent.
Compared to the rest of the Chicagoland market, the Near North Side submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 66 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available leases in the Near North Side are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,520 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are close to 6 floors. Most buildings in this region were built in 1929 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Public administration is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Near North Side folk. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.