Making Your Employees’ Needs a Priority in Your Office Search


Employees are the lifeblood of any business, and their productivity is directly tied to their happiness. Employees who feel their needs are being met are generally more productive and creative. It’s human nature, and finding a space that supports your team can mean happier and more productive employees.

 

Need: A Quiet Place

Open-concept office spaces are great for collaboration, but what happens when someone needs a private space to focus or make a call? Consider finding space with smaller office rooms that can accommodate the need for a place to think, a place to be productive and place for your employees to take a moment away from the hustle and bustle.

 

Need: A Place to Communicate

Whether your team is trying to complete that sale or they’re corresponding with a client via video conference, it’s important to have a designated space to take calls and video conferences. This room will need to have infrastructure that allows it access to the necessary technology.

 

Need: A Place to Gather

From social gatherings to team meetings to networking events, there needs to be space within your office for people to gather. Consider a multi-purpose space with movable furniture and partitions. This will allow you the freedom to use the multi-purpose area to gather when needed and utilized for other office functions when not needed.

 

Adequate spaces and layout should be an important consideration for your search. When your team feels supported and heard within the office space and structure, the results yielded will be boosted productivity, increased morale and an overall better work experience.

 

Need: A Place for New Mothers

Mother’s Rooms are one of the best ways you can support employees coming back from maternity leave. Not only are these spaces a great way to help the mothers on your team feel like their needs are being met, it’s also illegal to not have a private area for women who are nursing.

Where you work matters. That’s why we’ve partnered with an online software platform to make it easy to search for spaces that are specific to your needs. All you need to do is enter your informationhere.You will be given access to a database of office space listings complete with virtual tours, floor plans and all-in monthly prices. Finding the space of your dreams is only a click away.

The Importance of Infrastructure


Paying attention to infrastructure means paying attention to the nitty gritty details, but it’s these details that save you time and money in the long run. Below we have your guide to all things infrastructure for your new office space.

Movable Partitions and Furniture

As your business changes size and scope, having appropriate accommodations will make this transition seamless. Movable partitions and furniture are an easy and cost-effective way to accomodate for the expansion of your business. Seeking infrastructure that lends itself to the incorporation of movable additions is an imperative way to adequately plan for your company’s future.

Internet Connectivity

We all run on wifi these days, and your new building should be able to support that need for the entire office. Infrastructure plays a huge role in how easy or challenging it may be to set up your necessary systems. The difference between fast and effective wifi and internet that drags can be in the way your space is designed. Before you commit to a space, have the landlord run a network test on existing channels to ensure they work properly. If any of the cablings needs to be restructured, it could turn into a more costly project.

Security Systems

Ensuring the safety of your employees and important information is crucial. Consider if the space you’re looking at has a doorman or if there’s already a security system. If the security system needs to be updated or if one needs to be installed, this could turn into a costly and expensive project. Be on the lookout for existing security and how that aligns with what you need to ensure the safety of your employees and company assets.

Utilities

It’s easy to overlook things like sprinkler systems or outlets. If the sprinkler systems don’t function properly, you’re putting your employees at risk and either you or your landlord will be required to replace them. As for electricity, it’s recommended that you ask your landlord to run an electricity survey to gauge how much electricity your office space is using. Understanding the efficiency of your electricity and utilities can save you time and the surprise of higher-than-expected utility bills.

The inside of your new location is just as important if not more than the actual physical location. Weigh the pros and cons of location and infrastructure to narrow down the types of office locations you’re considering.

Where you work matters. That’s why we’ve partnered with an online software platform to make it easy to search for spaces that are specific to your needs. All you need to do is enter your information here, and you will be given access to a database of office space listings complete with virtual tours, floor plans and all-in monthly prices. Finding the space of your dreams is only aclick away.

Understanding Costs Associated With Moving to a New Space


When you’re looking for a new space, having a budget is essential. As you check out potential locations it’s important to understand the not-so-obvious costs that may pop up as you transition to your new place.

Parking

Just as we mentioned in our location blog, understanding parking is an essential part of running a business. Depending on the area you’re looking to move to, parking can be a lot more expensive than you initially thought. If a significant percentage of your employees are driving to work and parking, you may be able to make a deal with a nearby garage so your team has the resources to get to work easily.

The Lease

Before signing the dotted line on your new lease, you should understand every associated cost. You’ll be locked into this lease for an extended period of time, so it’s of the highest importance to know exactly what that means for you and your business. There will be a security deposit required which is typically 30% of your landlord’s out of pocket expenses, and additional fees for utilities not included, after-hours HVAC use, and possibly janitorial services. There may also be termination penalties if for any reason you were to break your lease earlier than expected.

New Furniture

Different spaces call for different furniture, and what you have on hand may not always work in your new office. If you’re adding collaborative spaces or just expanding from your old office, it’s necessary to budget for any additional furniture you may need. Furniture can range anywhere from $15 to $25 per square foot, so It’s a good idea to take note of what furniture would translate to the new location and what pieces you would need to purchase.

Mover’s Insurance

If you decide to use a moving company to get everything from Point A to Point B, you’ll want your items to be protected. Buying an insurance policy to cover the cost of all the items you’re bringing to your next space can save you a lot of hassle if anything were to get damaged or lost. While purchasing insurance may be a little more costly upfront, ensuring the protection of your assets will give you peace of mind during your move.

Phone and Data

There’s an expense associated with wiring your space, getting your data hooked up, and potentially getting a new phone system. Often times even when a landlord commits to turnkey a space, the cost to setting up the wiring may not be included. Phone and data wiring and

set up fees start at around $2 per square foot and depending on factors like how many workstations you have, the types of ceilings you have, etc, it can go up to about $5 per square foot. Also, there can be a lag time from when you call to set up your internet service and when it actually commences. So be sure to start this process as early as possible.

A discrepancy with your budget can push back your move and set you behind. Take the time to look into any extra costs that could come up, and budget for the unpredictable. This strategy will ensure that money will not inhibit your big move.

218 S. Wabash, suite 280, Chicago, IL 60604


 

Description: Here is an opportunity to sublease a fully-furnished property in Chicago’s Loop. This space is a newly built loft-style office with exposed ceilings. There is a large collaborative kitchen area, 11 workstations, 3 large offices/breakout rooms, 2 small offices/phone rooms, and a lounge area.

The sublease is move-in-ready and available immediately. The least is set to expire on April 30th, 2025.

Size:2,438 SF

Cost:  $21.50/sf

Location: 218 S Wabash, suite 280, Chicago, IL 60604

Mid-Summer Networking With Tenant Advisory Group


Chicago entrepreneurs gathered at Tenant Advisory Group’s July Executives Breakfast and Luncheon to connect with other professionals and share their insight.

During the event, attendees were asked about “the biggest mistake they have made as a business owner.” Here are a few of the many responses:

Rick Gray, CEO, TalentRise: I did not do enough homework on the people driving the revenue of the business. I went too hard too fast and needed to step back and rebuild trust. I wanted to change the mentality of “my score matters” to “our score matters.”

Morrie Elstein, Vice President, Cendrowski Corporate Advisors: I didn’t hire the right partners, and I needed to make leadership changes, as the wrong people were selected. I also would have done more thorough background checks.

At the Executives Luncheon, guests were asked what they see as “the biggest threat to their industry and how they plan to overcome it.” Here are some of the responses:

Josh Strauss: Robotic advisors and passive investing on your own are the biggest threats. If there is any complication, there needs to be a specialized advisor. Passive investing works well in a growing market.

Joanna Sobran: The biggest threat is ourselves. We need to find a way to merge some of the various business lines to focus momentum and so they become really good at everything they do.

Thank you to all who attended!

If you’re a business owner with 20+ employees who is interested in attending future TAG events, please email Bill Himmelstein at Bill@TagCommercialBroker.com.

TAG Executives Breakfast Guest List

Mason Awtry, CEO, Rightsize Facility

Craig Castelli, Founder & CEO, Caber Hill Advisors

Mike Cavanaugh, Managing Partner, FinTech Ranger

Paul Detlefs, President, The Prestwick Group

Kenny Estes, Co Founder, West Loop Ventures

Grant Gochnauer, Co-Founder & CTO, Vodori

Matt Green, Co-Founder, VentureScale

Tom Gregg, President, Vehicle Acquisition Network

Richard Grossi, CFO, Kensium

Josh Haid, Managing Partner, Women’s Divorce & Family Law Group

Rhonda Jensen, President, Jensen Court Reporting

Mike Kupfer, President & CEO, Black Diamond Solutions

Guy Logan, CEO, Logan Consulting

Stan Logan, Chairman, Quality Back Office

Jim Macdonald, Managing Director, First Analysis

Andy Mack, CEO, SnapMobile

Joel Manning, Managing Partner, Manning Silverman

Joseph McCoy, Partner, Riley Safer Holmes & Cancila

Scott Nicholson, CEO, KO Business Solutions

Grigory Pekarsky, Managing Broker & Partner, Vesta Preferred Realty

Ben Renda, CEO, Global Capital

Ron Repking, Founding Partner, Sriracha Partners

Mitchell Roth, Managing Partner, Much Shelist, P.C

Karen Sanders, President, Sanders IT Consulting

Allan C Sutherland, Founder, President and CEO, In-telligent LLC

Rosemary Swierk, President, Direct Steel & Construction

Jon P. Talty, AIA, Chairman & CEO, OKW Architects

John Udelhofen, CFO, One North Interactive

Jason Van Zant, Managing Director, Keystone Capital

TAG Executives Luncheon Guest List

Jeff Asperger, Partner, Meltzer Purtill & Stelle LLC

Rory Dunne, Founder and Co-Managing Partner, Karbal Cohen Economou Silk & Dunne, LLC

Morrie Elstien, Cendrowski Corporate Advisors

Jessica Freiburg, Managing Partner, Sassetti LLC

James Gustin, Founding Partner, Fig Media

Judy Hogel, Executive Director, Chicago Family Business Council

Jonathan Rothstein, Senior Vice President, MB Financial Bank

David Stolarek, Senior Partner and Co-Founder at Porcaro Stolarek Mete Partners, LLC

Josh Strauss, Co-CEO, Pekin Singer Strauss Asset Management

How to Find a Coworking Space


Coworking spaces can be the perfect solution for a variety of working scenarios — from a solo entrepreneur just starting out to an executive from a large corporation seeking a change in scenery. Much like the businesses they serve, no two coworking spaces are the same. In fact, there are many aspects to consider when selecting a coworking space, including amenities, cost, location and clientele.  

Assess Productivity Pitfalls

When searching for a coworking space, look for one with an atmosphere that is conducive to your individual company’s productivity. Since there will be many people working in close proximity to your “office,” your employees could become distracted. Take a look around the space before signing a lease to see what other businesses are doing and whether or not their day-to-day work is too loud for you and your staff.

Check Networking Opportunities

The professional composition of the coworking office is another factor to consider, as networking can be a large benefit. A space full of professionals from different industries can expand a network fast, providing a budding business with new opportunities and ideas. Many coworking offices host happy hours, workshops and other events to build and foster relationships among tenants.

Investigate Growth Potential

The amenities a coworking space offers can really set it apart from the other options. While a brand new startup may be able to get by with a desk and laptop, a growing business needs additional technology, storage and multiple desks. Young companies expand fast, so make sure the selected coworking space can accommodate a little growth until the business is ready to lease its own office. Additionally, the space should be able to meet the needs of the company, such as meeting rooms, private booths, printing and other professional necessities.

Coworking spaces offer leases with much shorter terms than traditional office spaces, but that doesn’t mean you should rush in to sign. Request a day pass so you can ensure it will be a good fit. Pay attention to the amenities, the other tenants and what the space may be lacking to ensure it meets the needs of the business. This is the time to uncover potential problems, such as Wi-Fi reliability or overall space maintenance.

Conducting thorough due diligence prior to signing a coworking lease is critical, as the office will play a large role on the productivity of a business. Create a list of what is essential to the company, and verify the space can meet those needs. Selecting a coworking office may seem like an easy decision, but it should be taken seriously, as it can either improve or harm productivity.

180 N. Wabash Ave. Chicago, IL 60601


 

Description: Here is an opportunity to sublease an open-loft office space (ideal for tech or creative companies) right in Chicago’s Loop. This office is fully-furnished with all new, modern furniture including higher desks and benching. The space features a large conference room, a reception and waiting area, one private phone room, a kitchen and break room, 36 workstations and two offices, one large and one small.

The sublease is move-in-ready and available immediately. The lease is set to expire on January 31, 2023. However, the term is negotiable.

Size: 5,473 SF

Cost: $26/SF Gross

Location: 180 N. Wabash Ave. Chicago, IL 60601

Mid-Summer Networking With Tenant Advisory Group


The June Executives Breakfast and Luncheon offered a constructive environment for local Chicago entrepreneurs to broaden their network. Attendees had the opportunity to share ideas, experiences and business advice with one another.

At the executives breakfast, guests were asked “what they have done, or stopped doing, that has increased their productivity.” Here are a few of the responses:

Mason Awtry, President, Rightsize Facility: I syndicate myself through technology and only read emails a few times a day to stay productive. Someone else also reads my emails to distill it down. I also have technology-free Fridays and have someone run my social media. This helps me be more present in the moment.

Jim Anderson, President, Switchfast: I implemented traction to increase productivity. I also have a Friday afternoon calendar reminder to pick three things to get done next no matter what.

Attendees at the Executives Luncheon were given the topic of “best productivity practices and how to best sift through the noise.” Here are some of their responses:

Jeff Asperger, Partner, Meltzer, Purtill & Stelle: Build constant relationships with clients and people you’re working with, get to know them. Use the telephone and cultivate relationships.
Delegating is also very important. Set a good example and be a leader.

Rob Klein, Managing Partner, Klein Paull Holleb & Jacobs, Ltd.: Be hyper efficient, I have a to-do list every day. Create templates of everything you can and use software to be technologically advanced. It is also best to hire people that are smarter than you.

Thank you to all who attended!

If you’re a business owner with 20+ employees and are interested in attending future TAG events, please email Bill Himmelstein at Bill@TagCommercialBroker.com.

TAG Executives Breakfast Guest List

Jim Anderson, President, Switchfast

Mason Awtry, President, Rightsize Facility

Jon Berbaum, President, Highland Solutions

Bob Berland, President, Berland Communications

Atish Doshi, Founder, The Black Sheep

Kenny Estes, CEO, West Loop Ventures

Gregory J. Fine, FASAE, CAE, CEO, CCIM Institute

Scott Glickson, Managing Director, PURSANT, LLC

John Gotschall, CEO, Coaching Financial Concepts

JC Grubbs, CEO, DevMynd

Jerry Holisky, Managing Partner, Aronberg Goldgehn

John LaRoy, President, CoachVend

Daniel Levin, President, Liventus

Guy Logan, CEO, Logan Consulting

Scott Markman, President, The Monogram Group

Victoria Rock, President, Victoria Legal & Corporate Services

Jim Taylor, CEO, Launchways

Ken Thompson, Managing Director, Level X Consulting

John Udelhofen, CFO, One North Interactive

Jason Van Zant, Managing Director, Keystone Capital

TAG Executives Luncheon Guest List

Jeff Asperger, Partner, Meltzer, Purtill & Stelle

Joe Brocato, Partner Gozdecki, Del Giudice, Americus, Farkas & Brocato LLP

David Diamond, Managing Partner, Kutchins, Robbins & Diamond

Troy Ellis, VP of Finance, Aparium Hotel Group

Morrie Elstein, VP, Cendrowski Corporate Advisors

Mike Garelli, CEO & Founder, Marco & Associates

James & Michele Gustin, CEO & President, Fig Media

Elizabeth Hodos, Founder / CEO, Hodos Consulting

Steve Jakubowski, Shareholder, Robbins, Salomon & Pratt

Robert Klein, Managing Partner, Klein Paull Holleb & Jacobs, Ltd.

Robert M. Lanigan, Executive Director, Morgan Stanley Private Wealth Management

Dan Porcaro, CEO, PSM Partners

Mark Rickmeier, CEO, Table XI

Jonathan Rothstein, SVP, MB Financial Bank

Gregg Salkovitch, CEO, Rightchoice Resources

Joanna Sobran, CEO, MXOtech

Roch Tranel, CEO, Tranel Financial Group

Bill Himmelstein Visits WGN Radio


Tenant Advisory Group’s own Bill Himmelstein Bill Himmelstein was invited on WGN Radio’s Startup Showcase to talk about TAG and the commercial real estate industry.

You can listen to the full interviewhere.

10 Years with the Tenant Advisory Group


Ten years ago, Tenant Advisory Group was founded to bring value to clients and partners, regardless of the need for a real estate transaction. In addition to being a highly experienced commercial brokerage firm, TAG’s mission was to be high-level connector and supporter to those who crossed our path. The company accomplishes its client support and best-in-class service by consistently demonstrating three core values: being responsive, following through and placing the client’s best interests first.

For the last 10 years, TAG has strived to provide partners with year-round support by referring business and creating strategic connections with value-adding professionals. Whether the client is large or small, TAG consistently outperforms its competition by delivering the best deal terms to its clients through these core values. When the team saves a client 25 percent on real estate costs, that is 25 percent the client can reinvest in their own business. TAG has not only been able to survive these last 10 years, but has thrived and grown.

The Tenant Advisory Group team is extremely thankful for our clients, partners and team and we look forward to the next 10 years of working for our clients’ best interests.

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