Chicago Area News
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Traditional office work is not dead
Traditional office work is not dead, but it has undergone significant changes and will continue to evolve. The COVID-19 pandemic accelerated trends towards remote and flexible work arrangements, leading many to speculate about the future of traditional office spaces. However, the concept of a physical office is unlikely to disappear entirely. READ MORE
Hybrid work
Hybrid work, which allows employees to split their time between working remotely and working in a traditional office, has become increasingly popular in recent years. While there are certainly benefits to this model of work, it is not without its challenges and drawbacks. Here are a few reasons why hybrid work may not be the […]
Chicago Showing Both Hot and Cold
Damla Gerhart, principal and managing director, Avison Young, tells GlobeSt.com that even with its challenges, she’s seen significant cause for optimism in Chicago’s office market in the fourth quarter. “While most of the market’s vacancy and availability rates saw continued increases, the flight to quality and location is apparent, with occupants seeking better spaces for […]
34th Ward Revamp
Optimism for the upcoming 34th Ward revamp could help boost the downtown business district as well as provide further growth for the hot west loop market. READ FULL ARTICLE
The Office isn’t dead yet
“The Office isn’t dead yet. Companies may still need a place to work at least part of the time and flexibility will be a key point.” — Aaron Anovitz Chicago tech firm Cameo runs a return-to-the-office experiment, discovers a big productivity boost and rethinks its remote-only stand. Steven Galanis, the poster boy for working from […]
New Demand for Office Space Highest Since Pandemic Onset
Office space needs have certainly been in flux since the pandemic hit in early 2020. How and when these trends shake out is yet to be determined but Anovitz Associates still believes people will be using office spaces in the future even if the layouts of the offices and time with butts in seats is […]
The Tide Is Turning Away From Shrinking Office Footprints
When the pandemic hit in March of 2020 and everyone started working from their homes no one was certain what the office space world would look like in the future. Would the Willis Tower be turned into residential condos, would Chicago’s central business district become a ghost town? Talking with tenants, brokers and employees over […]
A warning sign City Hall should heed
A key indicator of the health of the downtown office market has begun to flash red. Author GREG HINZ On Politics. As Mayor Lori Lightfoot prepares to present her critical first city budget, a key indicator of the health of the downtown office market has begun to flash red—a sign of the difficulties the mayor […]
River West site next to Tribune Media megaproject hits the market
The Salvation Army is looking to sell its main downtown campus in the River West neighborhood, hoping to cash in on real estate investors’ appetite for land near the gentrifying North Branch of the Chicago River. Paving the way for what could be a big redevelopment project in the city’s expanding central business district, the […]
Fulton Market transformation shows signs of creeping westward
The Crain’s Chicago Business article on September 28 regarding continued expansion of Fulton Market into the Kinzie corridor is I believe not a question of IF but WHEN this and other areas near downtown start seeing lots of development. The Cook County Assessor’s office has been sending out notices of increased values all over the […]