Near West Side Sublease

Near West Side

Office Space Market Report

Number of Listings (last 90 days)
19
Median Rate ($/sqft/yr)
$37
Median Size (sqft)
2,100
As of: December 4, 2016

Near West Side Rates

The typical asking rate per listing is in the $30's per square foot per year. The Near West Side region is going through a a boost in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 27% increase in rent.

Compared to the rest of the Chicagoland market, the Near West Side submarket has greater rates, and you'll need to pay a premium to be in this hot region.

Near West Side Listing Supply

In the last 90 days, 19 listings have been made available, which means spaces might be going fast. You'll want to be prepared to make an offer immediately. About 5% of the available space in the Near West Side are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 2,100 sqft. Most properties in this market are close to 5 stories. Most buildings in this region were built in 1925 and are Class B.

Near West Side Community

Market Report

Trends and status of the commercial real estate market in Near West Side.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Near West Side.
Research