Most listings are in the $30's per square foot per year. The West Loop submarket is going through a a rise in rates. In the last 3 months, the median rate rose $9 per sqft per year. That's a 30% increase in rent.
Compared to the rest of the Chicagoland market, the West Loop submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have been listed, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,750 sqft. Most buildings in this area are around 22 floors. Most buildings in this region were built in 1965 and are Class A.
This region is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this region. Commute by bike is the most popular way to get to work amongst West Loop folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.