Most listings are in the $20's per square foot per year. The Valparaiso submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $5 per sqft per year. That's a 20% decline in rent.
Compared to the rest of the Chicagoland market, the Valparaiso submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 3 listings have been listed, which means spaces most likley are leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,230 sqft. Most properties in this region are close to 2 stories. Most buildings in this market were built in 1979 and are Class B.