On average, listings lease in the $20's per square foot per year. The O'Hare region is experiencing a a boost in rates. In the last 3 months, the median rate went up $5 per sqft per year. That's a 25% rise in rent.
Compared to the rest of the Chicagoland market, the O'Hare submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 6 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 17% of the office spaces in the O'Hare are subleases, so you might be able to find a shorter term or below market rent. 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 10,290 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this area are close to 11 floors. Most buildings in this area were built in 1984 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst O'Hare folk. Commuting around an hour a day is the norm for those who opt to reside in this part of town.