The typical asking rate per listing is in the $30's per square foot per year. The River North submarket is seeing a decline in rates. In the last 3 months, the median rate fell $3 per sqft per year. That's a 8% decline in rent.
Compared to the rest of the Chicagoland market, the River North region has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 16 listings have come on the market, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 13% of the available space in the River North are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 3,190 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this region are close to 6 floors. Most buildings in this region were built in 1920 and are Class B.
A large portion of this region is residential, but there's plenty of office_space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst River North occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.