Coworking Spaces in Chicago, IL
Chicago is home to a metropolitan population of about 10 million people, generating one of the world’s highest GDPs to the tune of $680 billion per year.
Unlike many global major metro areas, Chicago has one of the most well-balanced economies in the world. The fact that no single industry sector in the city makes up more than 14% of the work force helps make the coworking scene in Chicago a solid option for any freelancer.
In 2017 freelancers in Chicago totaled just over 67,500 people. In addition to being an international center for technology, culture, telecommunications and transportation, Chicago is also home to the Chicago Board of Trade where 20% of the world’s commodities and financial futures volume is generated.
Coworking Market in Chicago, IL
According to The Real Deal, coworking space in Chicago has grown by 300% over the last four years alone. At the beginning of 2014 there was less than 800,000 square feet of flexible office space in Chicago. The most recent report from Yardi Matrix found that just 5 years later there are a total of 179 coworking locations in Chicago occupying more than 5.3 million square feet of space.
Both venture capital and a dynamic blend of businesses are attracted to Chicago’s well-educated workforce. Over the last 5 years the city has attracted nearly $8.2 billion in venture capital investment. Major financial organizations include the Federal Reserve Bank of Chicago and the Chicago Mercantile Exchange. Global companies headquartered in the Chicago metro area include Boeing, McDonald’s, Kraft Heinz, and Caterpillar Inc.
Chicago MSA also boasts the 3rd-largest science and engineering workforce of any metro area in the U.S. Between 2013 and 2017 the number of people holding bachelor’s degrees or higher in science and engineering related fields has grown by over 30%. As of 2017 in the City of Chicago alone, over 225,000 students were enrolled in undergrad and graduate or professional school programs.
Update: COVID-19’s Impact on Commercial Real Estate
May 21, 2020
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COVID-19’s Impact on Commercial Real Estate
April 10, 2020
The economy was on a roll in February. Even as the severity of the pandemic was taking shape in China, the U.S. remained on the upswing. But, since then, the economy, markets, jobs and businesses have been dwindling. Last week, Yardi Matrix hosted a webinar on how COVID-19 is affecting commercia...
Why Coworking Options Are A Brilliant Employee Perk
March 23, 2020
Coworking is a great option for many people. But the flexible working opportunities these spaces offer also bring a range of benefits to enterprises. So, should you offer coworking as an employee perk? Benefits are an important component of your employment package. Research reveals 78% of worker...
What is coworking?
Coworking is a collaborative and flexible work style that involves a shared workplace or shared office space. The difference between coworking and traditional offices is that people who work in a coworking space don’t usually work for the same company or organization. This is why these collaborative work spaces appeal to freelancers, small businesses, solopreneurs, and independent workers. The coworking provider that manages the space handles all the services and amenities, to make sure all individual needs are covered. Many coworking spaces offer services such as event space and conference rooms, free wi-fi, virtual business addresses, 24/7 access, pet-friendly policies, printer and fax services, as well as the ability to rent office space by the hour, the day, the month, or long-term.
How to find the right coworking space in Chicago, IL
CommercialCafe is your go-to source for finding coworking & shared spaces in Chicago, IL. Search our selection of in Chicago, IL coworking spaces and find the right provider for your workspace needs. Our database includes 40 coworking office properties, so you can easily find your space and start working. Use our advanced search feature and filters to find the right shared office space, by selecting your desired price, neighborhood, and amenities such as complimentary Wi-Fi, coffee and tea, printing and scanning services or pet-friendly policies. Whether you’re looking to rent office space for a day, trying to find an hourly office rental, or searching for a longer-term option, we’ve got you covered.