Near West Side Retail

Near West Side

Office Space Market Report

Number of Listings (last 90 days)
19
Median Rate ($/sqft/yr)
$37
Median Size (sqft)
2,100
As of: December 8, 2016

Near West Side Rates

The typical asking rate per listing is in the $30's per square foot per year. The Near West Side submarket is seeing a an increase in rates. In the last 3 months, the median rate increased $8 per sqft per year. That's a 27% rise in rent.

Compared to the rest of the Chicagoland market, the Near West Side submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.

Near West Side Listing Supply

In the last 90 days, 19 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. About 5% of the available leases in the Near West Side are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,100 sqft. Most properties in this market are around 5 stories. Most buildings in this area were built in 1925 and are Class B.

Near West Side Community

Market Report

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

Market Data

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