Compared to the rest of the Chicagoland market, the West Loop region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 3 listings have been made available, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 467% of the available leases 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 available, so finding a space for a small business might be tough.
Even though the median size is 15,480 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this market are around 22 stories. 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 area. Commute by bike is the most popular way to get to work amongst West Loop residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.