West Loop Sublease

West Loop

Office Space Market Report

Number of Listings (last 90 days)
3
Median Rate ($/sqft/yr)
$33
Median Size (sqft)
27,250
As of: June 22, 2017

West Loop Rates

Most listings are in the $30's per square foot per year. The West Loop region is experiencing a a rise in rates. In the last 3 months, the median rate rose $33 per sqft per year.

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

West Loop Listing Supply

In the last 90 days, 3 listings have come on the market, which means new listings are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 267% of the office spaces in the West Loop are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.

Even though the median size is 27,250 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 22 floors. Most buildings in this area were built in 1965 and are Class A.

West Loop Community

This market is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this area. Commute by bike is the most popular way to get to work amongst West Loop occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.

Market Report

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

Market Data

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