The typical asking rate per listing is in the $20's per square foot per year. The Northwest Elgin region is experiencing a an increase in rates. In the last 3 months, the median rate rose $6 per sqft per year. That's a 29% rise in rent.
Compared to the rest of the Chicagoland market, the Northwest Elgin region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 54 listings have been posted online, so you'll want to check back regularly for new listings. About 31% of the available leases in the Northwest Elgin 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,610 sqft. Most buildings in this market are approximately 1 floors. Most buildings in this region 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 market. Most of the residents of Northwest Elgin work from home. Commuting approximately 10 minutes a day is the norm for those who opt to reside in this part of town.