The typical asking rate per listing is in the $10's per square foot per year. The Northwest Elgin region is seeing a decrease in rates. In the last 3 months, the median rate fell $9 per sqft per year. That's a 33% decrease in rent.
Compared to the rest of the Chicagoland market, the Northwest Elgin submarket has less expensive rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 37 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,980 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are approximately 1 floors. Most buildings in this area were built in 1999 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Most of the residents of Northwest Elgin work from home. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.