On average, listings lease in the $20's per square foot per year. The Bucktown region is going through a an increase in rates. In the last 3 months, the median rate increased $24 per sqft per year.
Compared to the rest of the Chicagoland market, the Bucktown submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 10 listings have been made available, which means office spaces are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 90% of the listings in the Bucktown 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 6,680 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this market were built in 1930 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Bucktown residents. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.