West Loop Retail

West Loop

Office Space Market Report

Number of Listings (last 90 days)
19
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
7,997
As of: December 8, 2016

West Loop Rates

On average, listings lease in the $30's per square foot per year. The West Loop submarket is experiencing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.

Compared to the rest of the Chicagoland market, the West Loop region has higher rates, and you'll need to pay a premium to be in this hot region.

West Loop Listing Supply

In the last 90 days, 19 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. About 21% of the office spaces 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 posted, so finding a space for a small business might be tough.

Even though the median size is 7,997 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 22 stories. Most buildings in this market were built in 1965 and are Class A.

West Loop Community

This market is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst West Loop folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in West Loop.
Market Report

Market Data

Real time and historical data on commercial real estate listings in West Loop.
Research