Chicago’s CBD sublease inventory surged in recent years as hybrid work reshaped office demand. Now, as availability begins to recede from its peak, sublease space is emerging as a compelling option for tenants seeking value and move-in-ready suites.
Tag Archives: Chicago
Q3/25 Downtown Chicago Office Market Report
Bradford Allen is pleased to share our latest office market reports.
This quarter in Chicago’s downtown office market:
- Q3 2025 net absorption was approximately negative 170,000 square feet, an improvement over Q2’s negative 1.7 million square feet..
- Direct vacancy was 24.4%, in-line with last quarter’s record high 24.7%.
- The average gross asking rates were up slightly from the prior quarter to approximately $42 per square foot.
- Move-in ready suites continued to outperform the market, accounting for over 40% of all leased square footage year to date.
- West Loop and Central Loop combined to account for almost three quarters of all leasing activity by square feet.
Ten with Ben 032: Market Comparisons with Jon Azulay
In this episode of Ten with Ben, Ben shares the mic with his brother and commercial real estate colleague, Jon Azulay from CBRE. A former Chicago broker now working in Los Angeles, Jon explores the unique differences between the two commercial real estate markets. From payment cadence and RTO office trends to broker culture, he explains why the Chicago market remains one of the most competitive markets across the country.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Mid-Year Chicago Office Reports: Vacancies Tick Up Again but Large Leases Signed and More Properties Sold for Conversion
Bradford Allen released its “Q2/25 Office Market Report: Downtown Chicago” and “Mid-Year 2025 Office Market Report: Suburban Chicago.”
CHICAGO — Bradford Allen, a national full-service real estate firm, today released its “Q2/25 Office Market Report: Downtown Chicago” and “Mid-Year 2025 Office Market Report: Suburban Chicago.” The firm’s in-house research team reported the CBD vacancy rate rose to 24.7%, up from 23.4% in the first quarter, and average gross asking rates declined to $41.54 from $42.56 in the same period. Meanwhile, the suburban vacancy rate reached 25.1%, up from 24.6% at the end of 2024, and gross asking rents declined to $24 per square foot.
Still, companies continued to sign large leases and investors acquired more distressed and obsolete properties, whether to recapitalize or convert to new uses. Move-in-ready office suites, which comprise built-out and speculative spaces, remained popular, accounting for almost one-third of downtown leases and more than a third of suburban leases. Those between 3,000 and 12,000 square feet are leasing the fastest, according to Bradford Allen.
“Behind the numbers is a market that’s continuing to find balance but healthier than some might realize based on recent headlines,” said Neil Bouhan, senior managing director, research and communications, at Bradford Allen. “As conversions take obsolete product off the market and distressed properties find new owners and tenants, vacancy will decline further and better reflect current market conditions.”
Downtown Chicago
Tenants signed approximately 1.9 million square feet of leases in downtown Chicago in the second quarter, with about half of that in the West Loop. Golub Capital’s 205,450-square-foot lease at 225 W. Randolph St. was the quarter’s largest. Throughout downtown, direct net absorption was negative 1.5 million square feet for the quarter, making second-quarter 2025 among the weakest periods for overall demand since first-quarter 2024.
Investment sales totaled $118.3 million in the second quarter, down from $156.7 million in the first quarter, a 24.5% decrease. Kohan Retail Investment Group’s purchase of 311 S. Wacker Drive for $45 million was the quarter’s largest investment deal. The purchase price equated to $34 per square foot, down significantly from the $230 per square foot paid in 2014 but a low enough basis for the new owners, who are considering converting some of the office space into a hotel, to pursue a strategic repositioning.
Other conversion deals are expected to add a combined total of 734 residential units to the market, including:
- WindWave Real Estate and Path Construction bought a portion of 111 W. Illinois St. for $17 million for conversion into 153 residential units.
- Concord Capital bought 223 W. Erie St. for $6.85 million and plans to convert it into 66 residential units.
Additional conversion projects announced were 1500 N. Halsted St. near Goose Island (31 units) and 309 W. Washington St. (84 units).
Suburban Chicago
The vacancy rate in the suburbs was 25.1% for the first half of 2025, up from 24.6% at year-end 2024. Gross asking rents declined to $24 per square foot.
Suburban office leasing activity was 2.9 million square feet at mid-year, ahead of the pace for 2024, which saw a total of 5.7 million square feet. Net absorption was negative 5,639 square feet, an improvement over the net negative 770,000 square feet of absorption in the first half of last year.
Investment sales totaled $121 million through June, well below the pace for last year, when $368 million in sales were recorded at year-end.
Market conditions continue to present opportunities for patient capital looking to acquire quality assets in prime suburban locations, according to Bradford Allen. For example, GTZ Properties acquired the 327,000-square-foot Oak Brook Office Center for just under $9 million, a significant discount from the 2013 purchase price of $33 million. GTZ plans to maintain 100,000 square feet of upgraded office space while exploring retail and entertainment conversions for the remainder of the property, located about 3 miles from the Oakbrook Center mall.
Fortune Brands Innovations leased two of three buildings at 1 Horizon Way in Deerfield, the former Horizon Therapeutics campus. The deal was backed by Illinois EDGE tax credits in exchange for creating 400 new jobs by late 2027. Vantive, the kidney care spinout from Baxter International, took 390,000 square feet at 510 Lake Cook Road in Deerfield, bringing 200 employees and 50 new jobs to the former Caterpillar site.
Full copies of each report can be downloaded using the following links:
Q2/25 Office Market Report Downtown Chicago
Mid-Year Office Market Report Suburban Chicago
About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by Jeff Bernstein and Larry Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.
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Editors:
For more information or to schedule an interview, contact Patty Cronin, pcronin@taylorjohnson.com, (312) 267-4513.
Q2/25 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report. Activity in Chicago’s downtown office market was steady, as firms expanded and well-capitalized owners continued robust leasing programs.
This quarter in Chicago’s downtown office market:
- Q2 2025 net absorption was negative 1.5 million square feet, among the weakest since Q1 2024.
- Direct vacancy continued to climb, reaching a record high of 24.7%, up 1.3 percentage points from Q1 2025.
- The average gross asking rates were down from the prior quarter to approximately $41 per square foot.
- Spec suites continued to outperform the market, accounting for nearly one-third of all leased square footage year to date, remaining highly sought after by tenants.
Bradford Allen Secures New Lease at 142 E. Ontario
CHICAGO — Bradford Allen, a national full-service commercial real estate firm, today announced a new lease at 142 E. Ontario in Chicago’s Streeterville neighborhood. Lo Destro Construction Co. has signed a lease for 7,773 square feet of office space in the building.
Bradford Allen represented the building’s ownership in the transaction, with executive managing director Andy DeMoss and director Alex Gordon leading the leasing efforts. Lo Destro Construction Co. was represented by Noah O’Neill of Stone Real Estate.
“This lease reflects the ongoing interest we’re seeing from both office and medical tenants,” DeMoss said. “The debt-free ownership group is well capitalized and willing to get creative to land deals, so 142 E. Ontario continues to check the box for a wide range of tenants.”
Located just off Michigan Avenue, 142 E. Ontario offers a new amenity floor, multiple spec suites, and balconies in select suites.
Ten with Ben 031: Navigating Insurance and Risk Assessment with Micah Kafitz
This episode of Ten with Ben features commercial insurance expert Micah Kafitz from Associated Agencies, Inc., who joins Ben to discuss what property owners, tenants, and brokers should know about insurance. Micah explains when to get an advisor involved, what to watch for in lease language, and how early planning can help reduce risk and save money. He also shares how he helped a buyer close a deal others said couldn’t be done—by securing a rare coverage solution most brokers couldn’t offer.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Q1/25 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report. Activity in Chicago’s downtown office market was steady, as firms expanded and well-capitalized owners continued robust leasing programs.
This quarter in the downtown office market:
- Q1/25 direct net absorption was negative 173,000 square feet, significantly improved relative to negative 1.8 million square feet in Q1/24 and negative 1 million square feet in Q4/24.
- Direct vacancy rose, reaching a record high of 23.4%.
- Spec suites and full buildouts accounted for 38.9% of leasing activity, emphasizing the importance of user-friendly, move-in-ready space and financially committed ownership.
- The West Loop secured over half of the quarter’s leasing activity, followed by River North (16.2%) and the Central Loop (11.8%).
Ten with Ben 029: Deals, Demand, & the Office Market Rebound
Ben is back with another episode of Ten with Ben, exploring the recent momentum in the commercial real estate market. Leasing velocity is up, transaction volume is rising, and distressed assets that once seemed stagnant are now trading hands. Post-election stability and renewed business confidence have fueled this shift, as companies gain clarity on their long-term office strategies. The return-to-office movement is no longer just a talking point with many firms solidifying in-person work policies, with some even requiring five-day attendance. Landlords are responding by enhancing assets with premium amenities to attract and retain tenants. As deal flow accelerates, the market is demonstrating greater resilience than many anticipated—particularly in Chicago, where leasing and investment activities showcase a revived sense of optimism.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Client Success Story: Northwestern Mutual
Facing an expiring lease and a need for a refreshed office space, Northwestern Mutual partnered with Bradford Allen to explore relocation options. After an extensive market search, it became clear that the best solution was to expand within their existing building. Led by Ben Azulay, the Bradford Allen team negotiated favorable lease terms to expand and relocate to another floor, helping Northwestern Mutual achieve a modern, collaborative office that supports future growth and impresses clients.
Watch the video to hear Jeff Sons, wealth management advisor at Northwestern Mutual, discuss his successful partnership with the Bradford Allen’s Tenant Representation practice.
Q4/24 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report.
This quarter in the downtown office market:
- 2024 net absorption was negative 3.6 million square feet, nearly double the negative 1.9 million square feet recorded in 2023.
- Direct vacancy continued to climb, reaching a record high of 23.2%.
- The average gross asking rates were $42.85 per square foot.
- Spec suites and full build-outs continued to outperform the market, accounting for an increasing share of leasing activity—28.6% in 2024 up from 9% in 2019.
Ten with Ben 028: Reflecting on 2024 and Optimism for 2025
On this episode of Ten with Ben, Justin Kessler, Nathan Meissner, and Lauryn Sussman join Ben to reflect on a productive 2024 for the tenant rep team at Bradford Allen. The team discusses the uptick in tenant activity, surprising stability in office space needs, and the late-year momentum in deal-making. They also highlight how flexibility from ownership groups has created opportunities for tenants despite market challenges. Looking ahead to 2025, the team shares their optimism for continued market growth and new opportunities as the market adapts.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Building the Future
Insights from Andy Gush and Chicago Build 2024
As top subject matter experts, Bradford Allen leaders are regularly asked to contribute to the industry conversations shaping the future of commercial real estate. Andy Gush, Vice President, Development, recently participated in the “High-Rise Development in the Midwest: Past, Present, Future” panel at Chicago Build 2024. Industry experts, including George Phillips Sorich of NORR, Jason Wilen of Klein & Hoffman, and John Peronto of Thornton Tomasetti, joined him in conversation.
Andy Gush, Bradford Allen’s Vice President, Development, discussed future developments in the Midwest at Chicago Build 2024, highlighting Arlington Med, our innovative redevelopment of the former Daily Herald building into a state-of-the-art medical office facility.
Photo by Guillermo Pizano Nuñez & Bradford Allen.
The panel provided a comprehensive overview of the evolving landscape of high-rise development in the Midwest, focusing in on economic trends, the increasing emphasis on sustainable building practices, and the necessity for adaptive reuse of the built environment. Reuse strategies are the most effective means of managing our carbon footprint, and recycling structure is a requisite step on the path to a climate-friendly future.
Among the pipeline projects discussed in the panel was Arlington Med, part of the first phase of Bradford Allen’s master-planned redevelopment of the south gateway to Arlington Heights, Illinois. The project includes a gut-rehabilitation of the 150,000-square-foot former Daily Herald building to a state-of-the-art medical office facility. As Gush noted in the panel, Arlington Med addresses the need for custom tenant solutions in the healthcare space, prioritizing the patient experience in all aspects of the buildout.
Panelists shared further insight into the challenges developers face, such as navigating complex zoning regulations and securing financing for ambitious projects. They also explored the importance of collaboration among architects, engineers, and developers to create spaces that meet the evolving needs of communities.
Our developments reflect our steadfast approach to building spaces that address market demands while being mindful of the communities they serve. For more information on Arlington Med and to read about our continuing commitment the Village of Arlington Heights, visit www.arlingtonmed.com.
Q3/24 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report.
It was a familiar story in Q3 for Chicago’s downtown office market as headline statistics didn’t improve, nor degrade, materially over the prior quarter.
- Absorption was negative 600,000 square feet, bringing the year-to-date absorption to negative 2.6 million square feet.
- The direct vacancy rate in the CBD reached 22.5%.
- The CBD’s average gross asking rate dropped slightly to $42.85 per square foot.
- Well-capitalized owners continued to withstand market fluctuations, attracting and retaining a strong tenant base.
Ten with Ben 027: Market Shifts and Opportunities
In the latest episode of Ten with Ben, Ben Azulay reflects on the year so far, highlighting consistent deal flow and how companies are renegotiating leases to take advantage of current market conditions. He discusses the recovery of distressed properties, with lenders and landlords working out solutions, and questions the real value of amenities in office buildings. Looking ahead, Ben is monitoring how these trends will shape the market through the end of 2024 and into 2025.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Ten with Ben 023: Work Family
In this special episode of Ten with Ben Ben is joined by Justin Kessler, Nathan Meisner, and Lauryn Sussman for a compelling conversation on their unique team dynamics and experiences in real estate. The episode focuses on the team’s strong bond as they navigate various aspects of the industry together. Justin shares insights from a notable microbrewery deal, while Nathan reflects on adapting strategies during the pandemic and Lauren speaks to her development within the team’s nurturing environment. Together, they offer an optimistic but cautious outlook of the market headed into 2024. The episode wraps up with a friendly and insightful discussion, illustrating the team’s camaraderie and collective expertise.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Ten with Ben 022: Opportunities in the Market
Ten with Ben is back to showcase the “power of the ask.” Today’s market is all about seizing opportunities through creative negotiation. Current conditions present unique opportunities for tenants to renegotiate leases and for landlords to showcase their financial stability as a major strength. Ben offers actionable insight to both tenants and landlords on how to navigate the market effectively, from securing favorable lease terms to arranging unexpected perks.
This week, Ben gets candid about the lessons he’s learned over twenty years in real estate—and how the best advice always transcends the business. As a proud American Jew, Ben also reminds us to check in on Jewish friends and colleagues as fallout from the war in Israel continues to be felt around the world. Be present for one another—we are in this together.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
Ten with Ben 021: Wrapping Up Q3 2023
In this week’s episode, Ben reflects on his two-decade-long journey as a tenant rep broker, shares current market conditions, and identifies recent challenges the industry is facing. From the bustling Fulton Market district to new activity throughout the Loop, get an expert view on what’s shaping Chicago’s office landscape. Post-pandemic, the deals may be smaller, but leases are being signed. Ben also touches on the perseverance of brokers, the importance of location to tenants, and just what makes Chicago such a dynamic and resilient city.
In the wake of the unprecedented terrorist attack that ignited war in Israel, we recognize this is a time of immeasurable grief and hardship for many around the world. Ben begins this week’s podcast expressing his feelings with an open discussion about his connection to Israel.
Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.
First Quarter 2016 Chicago Downtown Office Market Report
The downtown Chicago office market started 2016 off with a flurry of strong activity. Large deal transactions included CNA’s announcement of its relocation to 151 North Franklin for 227,0000 square feet and Cars.com’s transaction to move into 158,000 square feet at 300 S Riverside.
The vacancy rate dropped to 12.0% thanks to over 230,000 square feet of positive absorption. The East Loop contributed the most to this number, with Clark Hill and McDermott, Will & Emery both moving into Prudential Plaza for a total of over 120,000 square feet.
Rental rates remained steady with the direct gross average asking rate ending the quarter at $36.40. A four percent growth year-over-year.
Mid-Year 2015 Chicago Suburban Office Market Report
Suburban Office Market Continues to Strengthen; Vacancy and Availability Rates Decrease
The Suburban office market continued to improve going into the 3Q of 2015. The vacancy rate decreased from 18.9% to 17.8% and the availability rate decreased from 24.4% to 22.3% year over year, respectively. While YTD net absorption is essentially flat at negative 27,182 SF thru the mid-year, it is significantly better than the negative 518,096 thru mid-year 2014. Overall these statistics indicate that the suburban market is becoming healthier and more dynamic.
Second Quarter 2015 Chicago Downtown Office Market Report
Downtown Market Approaches Equilibrium as the Vacancy Rate Continues to Decrease and Asking Rates Increase
Chicago’s downtown office market is continuing to become tighter. The overall vacancy rate has decreased from 13.4% to 12.6%, year over year. This is the lowest it has been since the end of 2008 and now brings the market almost to equilibrium. Simultaneously Chicago’s unemployment rate continued to improve in the second quarter. According to the Illinois Department of Employment Security, Chicago’s unemployment rate decrease from 7.7% in May 2014 to 6.7%, May 2015.
Chicago Commercial Real Estate – In the News
Tom’s Recommended Reading for the Week
- A Chicago Masterpiece Rediscovered – Even though downtown Chicago has a worldwide reputation for great architecture, many of its treasures suffer from neglect and disinvestment. But an increasing number of businesses believe that occupying historically-significant space can bring a type of prestige that modern office buildings… Globe St.
- As Office Space Shrinks, So Does Privacy for Workers – Dafna Sarnoff worked her way up to vice president at American Express and what she remembers as “a desirable office.” Later she was hired by a financial services company — bigger salary, bigger office. Then, in 2012, she was recruited by Yodle, a smaller, newer company that sells online marketing tools for small businesses…. New York Times
- Cushman & Wakefield Going Up for Sale – The Italian family that controls Cushman & Wakefield Inc., one of the world’s largest real-estate services firms, is putting the company up for sale as rising property prices push up the value of rivals, according to people familiar with the matter… Wall Street Journal
- More New Jobs Are in City Centers, While Employment Growth Shrinks in the Suburbs – For decades, most Americans working in metropolitan areas have gone to work outside city centers – in suburban office parks, stores or plants, not downtown skyscrapers. But as people increasingly choose to live in cities instead of outside them, employers are following…. New York Times
- The Smart Way to Create a Transparent Workplace – Transparency. The concept is as simple as it is alluring. By making sure employees conduct their work in plain view—visible in open offices, monitored with sensing technology and tracked through digital activity—companies hope to increase accountability, collaboration, knowledge sharing and innovation… Wall Street Journal
Chicago Commercial Real Estate – In the News
Tom’s Recommended Reading for the Week
I’m sorry about jinxing the weather everyone. I clearly forgot where I lived. Check out the top news stories in Chicago Commercial Real Estate before heading into the weekend!
- KCura gobbles up more office space on LaSalle Street – Fast-growing legal software maker kCura Corp. is taking a big chunk of extra office space at its home on South LaSalle Street to accommodate all the workers it’s been hiring.The Chicago-based company is adding nearly 50,000 square feet at 231 S. LaSalle St., bringing its total space to 133,609 square feet. It’s the fourth time in as many years that kCura has expanded. In 2009, it had just 8,000 square feet, according to CBRE Group Inc., which represented the company. KCura has experienced explosive growth recently. The company hired 150 people last year and expects to add a similar number this year… Crain’s Chicago
- Hotels are in, office is out for proposed West Loop high-rise – Jupiter Realty Co. has changed course again on its proposed West Loop high-rise, opting to fill it with hotel rooms instead of apartments or office space. The Chicago-based developer wants to build a 23-story tower at 108 N. Jefferson St. with two hotels, a 210-room Hampton Inn and a 128-room Homewood Suites, sharing the building, according to an e-mail Ald. Brendan Reilly (42nd) sent constituents last week. That plan marks a big shift for Jupiter, which first proposed a 45-story tower with apartments and offices when it acquired the sitefor $7.5 million in 2007… Crain’s Chicago
- Open-Plan Office Space: Is It All It’s Cracked Up to Be? – According to popular accounts, the corporate workplace is changing, seemingly reducing demand for office space. The square footage per employee is shrinking due to the increased prevalence of the open-plan office format. As a result, tenants now require less space than they previously needed. The open-plan office format has been increasing in popularity since the recession, as many tenants viewed it as a way to reduce their real estate costs. Moreover, in theory, this format increases employee productivity through easier collaboration… NREI
- Paltry Office Pantries Give Way to Sleek Social Spaces -For 12 years, employees of Anbau, a luxury real estate investment and development firm, worked in a walk-up on Fifth Avenue with no kitchen pantry to heat lunches or make coffee. So it was fitting somehow that the kitchen would become the focal point of the company’s new offices, on East 26th Street, overlooking Madison Square Park. A boomerang-shaped bar made out of Indonesian mango wood doubles as the reception area, making it the first place visitors see. With limestone countertops and stainless steel appliances, the area is more reminiscent of a residential kitchen than it is of an office pantry. In the months since the company relocated, Anbau has hosted cocktail parties in the same place where employees eat lunch and hold staff meetings… NY Times
- Suburban Office Vacancy Rate Rises – The suburban Chicago office market has long suffered from a high vacancy rate, and in the first quarter, that number climbed to 21.2%, up from 20.3% at the end of 2013, largely due to the decisions of several corporations to move downtown and the decisions of others to shrink their footprints, according to Colliers, which recently published its overview of the first quarter. “While there continues to be improvement in certain pockets of the market, tenants in the suburbs are still acting conservatively,” the researchers note. Too few are ready to make the long-term commitments needed to create a healthy market, and many suburban landlords are still offering aggressive incentive packages… Globe St.
Bradford Allen Brokers Nonprofit in Relocation, Expansion
CHICAGO – Thresholds, a social service agency providing healthcare, housing, and hope for individuals struggling with mental illnesses, has inked a 8,800 square foot lease at 120 South LaSalle. The Chicago-based nonprofit will continue to operate at 4101 N. Ravenswood Ave and its locations across the city, and will use the new Central Loop location for their executive, finance, and development offices.
Bradford Allen Senior Managing Director Craig Nadborne and Managing Director Sameena Mustafa Basit represented Thresholds in the transaction. Kim Robare of Lincoln Property Group represented the landlord, Teachers Retirement System of Illinois.
“This transaction enabled Thresholds to move into a central location that will accommodate their near and long-term growth,” shared Basit. “120 South LaSalle was able to offer highly adaptable existing conditions and favorable lease terms.”
“We’ve noticed a trend among our nonprofit clients wanting to relocate their executive staff to downtown office buildings,” Nadborne added. “In addition to centralizing business operations, a CBD location offers greater visibility and easier access to donors and board members.”
“Thresholds is thrilled to move some of our team to a downtown location,” says Mark Ishaug, Thresholds CEO. “We look forward to being closer to many of our partners, donors, and board members, as well as providing better access for all of our program staff located throughout the City of Chicago, Blue Island, Kankakee, and McHenry County. Bradford Allen understands the needs of large nonprofit agencies, and it was a pleasure to work with them.”
About Bradford Allen
Bradford Allen Realty Services, a Chicago-based, national commercial real estate company provides a full array of brokerage services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. For more information please visit our website at www.bradfordallen.com.
Chicago Commercial Real Estate – In the News
Tom’s Recommended Reading for the Week
This frigid week did not cool off the week’s news. Enjoy!
- Downtown biohub, Matter, will be at Merchandise Mart – The new downtown hub for health-technology startups has a name and an address. Called Matter, the facility will be in the Merchandise Mart next to 1871, the digital-technology hub upon which it’s modeled.The 25,000-square-foot facility will be funded by $4 million from the state of Illinois… Crain’s Chicago
- Chicago Spire developer gets funding, wants to resume project – The Irish developer behind the Chicago Spire said it has found an investor to pay its creditors, allowing it to emerge from bankruptcy and possibly restart work on the long-stalled residential project.… Chicago Tribune
- Two more law firms coming to Chicago- Two litigation-oriented law firms are opening Chicago offices they say could eventually total as many as 50-some lawyers.Akerman LLP, based in Miami with about 600 lawyers and lobbyists, hired seven lawyers from Chicago-based Ulmer & Berne LLP, while Goldberg Segalla LLP, a 180-lawyer firm based in Buffalo, N.Y., took six lawyers from Chicago-based Wiedner & McAuliffe Ltd… Crain’s Chicago
- The $180,000 way to create a tech startup – Seventy-nine percent of Illinois university tech startups still alive since 2010 came up through Chicago-area universities, according to a report out Monday.Northwestern University and the University of Chicago accounted for two-thirds of the total 354 startup companies created statewide, with the University of Chicago counting 103 total and 84 still-operating new companies, and Northwestern creating 116 with 92 still alive… Voices
- The logic of logistics: Key considerations for companies looking to expand, renovate or relocate – Despite some recent hiccups, a slowly-but-steadily improving economy seems to have reached the point in which many businesses are no longer just trying to keep their heads above water. In many cases, they are looking to move to a bigger pool. Across the Midwest, improving economic circumstances have led to a noticeable uptick in not only commercial moves, but also expansions and renovations of existing spaces… RE Journals