On average, listings lease in the $30's per square foot per year. The West Town submarket is going through a a rise in rates. In the last 3 months, the median rate went up $4 per sqft per year. That's a 12% increase in rent.
Compared to the rest of the Chicagoland market, the West Town region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 15 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 160% of the available leases in the West Town are subleases, so you might be able to snag a great spot on a short term. 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 5,000 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 2 floors. Most buildings in this region were built in 1929 and are Class B.