The city of Chicago is comprised of 77 community areas, each with one or more distinct neighborhoods. Downtown Chicago encompasses a cluster of neighborhoods including The Chicago Loop, or “The Loop,” named for the elevated CTA train tracks that encircle the area. The Loop makes up most of the central business district (CBD) of the city and the main part of its downtown. It’s home to banks, including the Federal Reserve Bank, investment and law firms, courts of law as well as many city, state, and federal agencies. Other popular downtown neighborhoods for coworking and office space include River North, North Michigan Ave/Streeterville, West Loop and South Loop.
Located just north of The Loop on the banks of the Chicago River, River North is a creative and entrepreneurial hub. River North boasts the second-largest district of art galleries in the country. It's also home to theMART, also known as The Merchandise Mart, a massive business center for leading manufacturers and interior design showrooms, as well as emerging tech startups and Fortune 500 companies.
Part of Chicago’s Near North Side, the bustling Streeterville area is known for its shopping, healthcare facilities, university campuses and attractions such as Navy Pier and the Museum of Contemporary Art. Streetville is also home to the “Magnificent Mile” on North Michigan Avenue, Chicago's commercial epicenter, featuring upscale shopping and dining options.
The West Loop is one of Chicago’s fastest-growing neighborhoods for residential and commercial space. Demand for office and coworking space is especially high in the Fulton Market District of the West Loop, where Chicago’s “Restaurant Row” on Randolph Street draws crowds daily. Trendy nightlife and boutique hotels such as The Hoxton and Soho House keep the evenings buzzing. Many startups, venture capital firms and even major corporations like Google and McDonald's lease office and coworking space in the West Loop.
Chicago’s South Loop is known for its college campuses, but recently has become a residential and commercial hub. South Loop also includes Printer’s Row, McCormick Place convention center, Pilsen and Chinatown. Pilsen and Chinatown offer affordable creative lofts, open floor plan offices and shared office spaces.
The Goose Island neighborhood and its surrounding areas feature up-and-coming office buildings to bring new business to the area. North of Goose Island, the plans for Lincoln Yards promise to bring more change to the area. The massive mixed-use development project is expected to transform more than 50 acres on both sides of the North Branch of the Chicago River.
Office space, whether commercial space or a flexible office, is also available in some of Chicago’s more residential neighborhoods. Aptly named as home to the largest park in Chicago, Lincoln Park offers plenty of live, work and play options. It's also home to the DePaul University campus. To the west of Lincoln Park, part of the greater West Town community, Bucktown and Wicker Park are dining, shopping and nightlife hubs, but recent developments make them a viable option for creative office and coworking space.
The North Side — Ravenswood areas are up-and-coming for office space. The area is dominated by residential and retail space properties, but older loft buildings have been converted to bespoke office spaces. The live-work-play mindset is not only a lifestyle choice — these areas also offer lower rental rates that are especially attractive to small businesses.
The North Shore / Evanston neighborhoods have long been viewed as bedroom communities of Chicago. Many offices in Evanston serve Northwestern University and small businesses seeking affordable, conveniently located office space.
Many businesses in the Chicago metro area find suburban office locations preferable to the Central Business District (CBD). Suburban offices are more conveniently located for those who live in the suburbs, and typically offer lower rental rates. Leasing suburban office space is also ideal for businesses needing to locate near industrial buildings. Popular suburban neighborhoods outside of the North Shore area include Naperville, Downers Grove, Oakbrook, Itasca as well as Rosemont and the Chicago O’Hare International Airport (ORD) area.