The typical asking rate per listing is in the $20's per square foot per year. The Hammond submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 9% decrease in rent.
Compared to the rest of the Chicagoland market, the Hammond region has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 10 listings have been listed, 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 3,450 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are close to 2 stories. Most buildings in this region were built in 1961 and are Class B.