It’s an exciting time in the Chicago tech scene, with new startups changing the entire face of our commercial real estate market. This infusion of creativity and drive is fantastic for our city, but is it really driving our overall economy forward? Reports say it’s not.
Co-working spaces have been grabbing square footage in cities across the world over the past several years, fighting over who gets to house the influx of innovative startups and budding entrepreneurs. It appears that this market has hit oversaturation, and even the biggest names in co-working are starting to pull back.
Sublease available through March 2019 in the famous Civic Opera Building, 20 N. Wacker. Versatile space comes fully furnished with access to a kitchenette.
Lease office space on the second and/or third floors of a quiet building at 744 N. Wells. Located in River North, this opportunity also comes with access to VentureShot networking events.
Commercial leasing agreements commonly extend up to 10 years – or longer – making negotiations key to long-term savings for your business. One of the greatest opportunities to reduce your monthly cost is rent abatement, or free rent. As you begin the discussion with a lessor, it is important to understand what rent abatement is and how it can be used to your advantage.