On average, listings lease in the $30's per square foot per year. The Lakeview submarket is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Chicagoland market, the Lakeview submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 11 listings have come on the market, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most buildings in this area are approximately 3 stories. Most buildings in this area were built in 2002 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Lakeview residents. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.