Chicago has a long-established entrepreneurial ecosystem and is home to the second-largest central business district in the United States. Historically industries including commerce, technology, telecommunications and transportation have been major players in Chicago’s economy but a growing tech community is turning the city into a hub for innovation.
Tenants looking for class A commercial office space or creative office space have a wide variety of neighborhoods to choose from mostly oriented around the "loop" where most business addresses are located. However, the Northwest suburbs and East-West corridor provide large markets for commercial space outside the downtown core.
As for the city itself, it is often known as the best food city in America. Time Out Magazine went one step further and ranked it the best city in the world for having it all, 2 years in a row! Chicago has that perfect balance of a large city lifestyle, great transportation, food, culture, and overall happiness.
TenantBase is a technology enabled office space brokerage built specifically for tenants. We make the commercial office space search and lease process easier by combining our unique technology with experienced local commercial real estate advisors.
The Fulton Market area of Chicago features a unique blend of commercial space that comfortably houses everything from vast corporate headquarters to smaller, flexible spaces for tech startups. Google leases over 500,000 SF of space between two separate properties in Fulton Market while McDonald’s now occupies the former home of Harpo Studios. That isn’t to say the area is exclusively for large corporations as many young technology companies are also flocking to the neighborhood as well.
A push to provide a better work/live/play balance helps companies attract local talent to Goose Island. Boutique shopping, several restaurants, and a growing number of nightlife spots are all close to the community. Its central location in the heart of Chicagoland is another appealing aspect of working in Goose Island. When coupled with expanding residential neighborhoods and a forward-looking initiative to propel the area into the future, Goose Island offers unique benefits to companies and employees alike.
The majority of the market consists of warehouse, retail, office, and science park space at a minimum of 7,500 sq ft. Rents average $30/sq ft and most of the new construction focuses on creative and technology firms. The ongoing Goose Island 2025 initiative is guiding most of the area’s rebirth with a detailed plan to transform the neighborhood into a vibrant and diverse collection of companies from an assortment of industries.
Lincoln Park is one of the most forward-looking neighborhoods in all of Chicagoland. Home to a burgeoning startup movement as well as several small to medium-sized businesses, the area features an appealing balance of locally-owned companies and innovative thought.
The rising rents in the downtown area are making Lincoln Park an increasingly attractive choice for businesses. Developers have taken notice of this spike in demand and broken ground on a handful of new developments. Lincoln Yards is the most notable of these projects with an ambitious mixed-use plan that will add significant green space, office complexes, and recreational areas to the region. CH Robinson has already moved into its new 200,000 sq ft building in Lincoln Yards to serve as an anchor point for the new development.
Every legendary city has a street that becomes synonymous with the area's personality and history. Michigan Avenue in Chicago is a perfect example of that dynamic with its bustling economy, high-end shops and hotels, and an environment that embodies the more exclusive side of Chicago’s character.
River North was once known as an industrial center for much of Chicago and the surrounding area. Times have changed and River North is once again in the middle of a neighborhood transformation where marketing and advertising firms are quickly making room for other types of creative firms, technology startups, and interior design companies.
One of the many benefits of working in Chicago’s West Loop is its accessibility. Traffic in the area is relatively normal by Chicago standards but the West Loop neighborhood has ample public transportation options to ease the daily commute. Ogilvie Transportation Center is centrally located in West Loop and provides easy Metra access for commuting to and from the region’s many suburban neighborhoods. The Clinton and Morgan Stations also make commuting by the “L” train a convenient option for the West Loop workforce.