On average, listings lease in the $20's per square foot per year. The Hammond submarket is going through a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 9% decline in rent.
Compared to the rest of the Chicagoland market, the Hammond 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, 8 listings have been listed, which means listings are probably 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 3,450 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this area are approximately 2 floors. Most buildings in this region were built in 1961 and are Class B.