The typical asking rate per listing is in the $30's per square foot per year. The Streeterville submarket is going through a decline in rates. In the last 3 months, the median rate fell $7 per sqft per year. That's a 16% decline in rent.
Compared to the rest of the Chicagoland market, the Streeterville region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 50 listings have been posted online, so you'll want to check back regularly for new listings. About 4% of the listings in the Streeterville are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 2,320 sqft. Most buildings in this market are close to 24 floors. Most buildings in this market were built in 1965 and are Class A.
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 area. Commute by bike is the most popular way to get to work amongst Streeterville occupants. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.