There are times in the lives of startups, when they must leave the confines and comforts of their current digs to move into bigger office space to accommodate growth (that's the goal, right?!). There are many different areas of Chicago to consider. Thank you to Corey Siegrist, VP Tenant Representation at Jones Lang LaSalle Chicago, Catapult corporate sponsor, for this guest post about the advantages of the Fulton Market and River West neighborhoods.
Why Fulton Market and River West?
by Corey Siegrist, VP Tenant Representation, JLL Chicago
From dozens of new restaurants to Sterling Bay’s purchase of 10+ buildings, the Fulton Market/River West area (see map) is quickly becoming one of the most sought-after neighborhoods for tech and emerging growth companies. It may not be as centrally located as the West or Central Loop, but its unique environment sets it apart. Fulton Market/River West by the numbers:
5 Reasons Start-Ups Love Fulton Market and River West:
- The neighborhood has a laid back vibe and culture. It’s not as formal as other office submarkets making it the perfect place for growth companies seeking to avoid the congestion of the CBD.
- This emerging area is the place to be – there are new restaurants, nightlife and hotels that can’t be missed from The Soho House to Rick Bayless’ upcoming spot.
- The addition of the Lake and Morgan Green Line stop and the proximity to 90/94 make the neighborhood easy to get to from around the city.
- The River North market has been so hot for the last few years that there is a shortage of cool, contemporary office space available. Plus it’s cheaper than office space in River North (for now)!
- “The Google Effect” – companies want to be by like-minded organizations.
5 Things JLL Can Do To Help You Understand Fulton Market/River West:
- JLL has a great relationship with Sterling Bay that we can leverage.
- We can use our expertise to help identify risks within buildings (e.g. dealing with less sophisticated landlords than River North).
- JLL’s tenant rep team provides an in depth knowledge of general office market conditions and availability.
- Our brokers have an understanding of this new neighborhood and an idea of how it will develop from here.
- We have a ton of experience with tech and high growth companies in Chicago and nationwide.
3 New Cool Buildings in Fulton Market:
- 1000 W Fulton – Google’s soon-to-be Chicago office
- 300 N Elizabeth – Sterling Bay recently purchased this brick and timber building
- 210 N Green St – WeWork’s office
Corey’s 3 Favorite Neighborhood Places: