Our offices are at Jackson and Federal, in the Monadnock building. I live in Oak Park; the Blue Line spits me out at the door of my office.
Joel Spolsky wrote an article on finding office space:
http://www.joelonsoftware.com/articles/OfficeNewYork.html
If you're running up against really expensive space, you may be falling into the trap of trying to buy "class A" space, or space that's jacked up because of "amenities" you don't care about.
The rent I'm talking about for Indy is downtown (not that it matters in indy). If I went to the Indy Suburbs, I could probably get it cheaper... Almost free probably for trade of some sort.
But driving in Chicago is a real pain, and I wouldnt want to live in the suburbs and/or have to commute there.