Near North Side Retail

Near North Side

Office Space Market Report

Number of Listings (last 90 days)
105
Median Rate ($/sqft/yr)
$40
Median Size (sqft)
3,620
As of: December 10, 2016

Near North Side Rates

The typical asking rate per listing is in the $30's per square foot per year. The Near North Side region is going through a a boost in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 15% rise in rent.

Compared to the rest of the Chicagoland market, the Near North Side region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Near North Side Listing Supply

In the last 90 days, 105 listings have come on the market, so you'll want to check back regularly for new listings. About 9% of the listings 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 available, so finding a space for a small business might be tough.

Even though the median size is 3,620 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 6 stories. Most buildings in this market were built in 1929 and are Class B.

Near North Side Community

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 market. 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.

Market Report

Trends and status of the commercial real estate market in Near North Side.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Near North Side.
Research