On average, listings lease in the $20's per square foot per year. The Elgin submarket is going through a a boost in rates. In the last 3 months, the median rate went up $9 per sqft per year. That's a 50% increase in rent.
Compared to the rest of the Chicagoland market, the Elgin region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 43 listings have come on the market, so you'll want to check back regularly for new listings. 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 4,980 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are approximately 1 stories. Most buildings in this market were built in 1998 and are Class B.