Compared to the rest of the Chicagoland market, the West Loop submarket has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means new availabilities might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 19% of the available leases in the West Loop 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 available, so finding a space for a small business might be tough.
Even though the median size is 7,422 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are approximately 22 floors. Most buildings in this area were built in 1965 and are Class A.
This area is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this market. Commute by bike is the most popular way to get to work amongst West Loop residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.