On average, listings lease in the $10's per square foot per year. The Valparaiso region is experiencing a an increase in rates. In the last 3 months, the median rate went up $19 per sqft per year.
Compared to the rest of the Chicagoland market, the Valparaiso submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 3 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,450 sqft. Most properties in this area are around 2 stories. Most buildings in this market were built in 1979 and are Class B.