Northwest Elgin Retail

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Northwest Elgin

Office Space Market Report

Number of Listings (last 90 days)
257
Median Rate ($/sqft/yr)
$30
Median Size (sqft)
6,040
As of: August 22, 2017

Northwest Elgin Rates

The typical asking rate per listing is in the $30's per square foot per year. The Northwest Elgin region is experiencing a a rise in rates. In the last 3 months, the median rate went up $10 per sqft per year. That's a 48% rise in rent.

Compared to the rest of the Chicagoland market, the Northwest Elgin region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Northwest Elgin Listing Supply

In the last 90 days, 54 listings have been posted online, so you'll want to check back regularly for new listings. About 19% of the listings in the Northwest Elgin are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 6,040 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this market are approximately 1 floors. Most buildings in this market were built in 1999 and are Class B.

Northwest Elgin Community

Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Most of the occupants of Northwest Elgin work from home. Commuting approximately 10 minutes 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 Northwest Elgin.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Northwest Elgin.
Research