The typical asking rate per listing is in the $30's per square foot per year. The Northwest Elgin submarket is seeing a a boost in rates. In the last 3 months, the median rate rose $4 per sqft per year. That's a 15% increase in rent.
Compared to the rest of the Chicagoland market, the Northwest Elgin submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 24 listings have been posted online, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. 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 4,760 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are close to 1 floors. Most buildings in this market 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 occupants of Northwest Elgin work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.