The typical asking rate per listing is in the $30's per square foot per year. The Near West Side region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decline in rent.
Compared to the rest of the Chicagoland market, the Near West Side region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 20 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this market are around 5 stories. Most buildings in this region were built in 1925 and are Class B.