On average, listings lease in the $30's per square foot per year. The West Town submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 12% rise in rent.
Compared to the rest of the Chicagoland market, the West Town region has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 15 listings have come on the market, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 153% of the available space in the West Town 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 5,000 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 3 floors. Most buildings in this region were built in 1929 and are Class B.