On average, listings lease in the $20's per square foot per year. The Northwest Elgin region is going through a a rise in rates. In the last 3 months, the median rate rose $9 per sqft per year. That's a 50% rise in rent.
Compared to the rest of the Chicagoland market, the Northwest Elgin submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 36 listings have been posted online, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,460 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 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 region. 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.