The typical asking rate per listing is in the $40's per square foot per year. The West Town submarket is seeing a a boost in rates. In the last 3 months, the median rate went up $16 per sqft per year. That's a 60% rise in rent.
Compared to the rest of the Chicagoland market, the West Town region has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 13 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. 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 5,000 sqft, there are still 0 leases below 2,000 sqft. Most properties in this region are approximately 2 floors. Most buildings in this market were built in 1937 and are Class B.