On average, listings lease in the $10's per square foot per year. The Elgin submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 30% decrease in rent.
Compared to the rest of the Chicagoland market, the Elgin submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 39 listings have been posted online, which means listings most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 4,980 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this area were built in 1999 and are Class B.