The typical asking rate per listing is in the $20's per square foot per year. The Valparaiso submarket is going through a decrease in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Chicagoland market, the Valparaiso region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 3 listings have come on the market, which means office spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,230 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this area were built in 1979 and are Class B.