Most listings are in the $10's per square foot per year. The River West submarket is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Chicagoland market, the River West submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 4 listings have come on the market, which means new listings might be 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 1,500 sqft. Most properties in this region are close to 3 floors. Most buildings in this region were built in 1900 and are Class C.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this area. Most of the residents of River West work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.