The typical asking rate per listing is in the $30's per square foot per year. The The Loop submarket is going through a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 3% decline in rent.
Compared to the rest of the Chicagoland market, the The Loop submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 200 listings have come on the market, so you'll want to check back regularly for new listings. About 214% of the office spaces in the The Loop 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,510 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 23 floors. Most buildings in this region were built in 1929 and are Class B.