Many outsiders generally associate Chicago with deep dish pizza, hot dogs with an obnoxious amount of toppings, and overwhelmingly bad baseball teams. But as the New York Times pointed out last year, downtown Chicago is also generating strong momentum for being a revitalized hotspot for both large-scale and small-time technology companies to call home. River North, one of Chicago’s hottest neighborhoods for trendy new restaurants and chic condominium and loft spaces, is now home to the mega daily-deal website company Groupon, the Chicago offices for Google, and dozens of other tech-related businesses.
The transformation of empty warehouses and Chicago’s famed Merchandise Mart building into desirable new loft-style office space has paved the way for hundreds of new digital companies to plant their seed in one of the fastest growing neighborhoods in the Windy City. According to a recent piece from Forbes, 71 of the top 100 digital companies are all situated within a 1 mile radius of Merchandise Mart, and who knows just how many other tech companies are located in various other up-and-coming neighborhoods in the downtown area.
While it may still seem strange to correlate our city with one of the strongest markets for technology-related business, the logic as to why so many digital companies are ultimately choosing Chicago to operate is actually pretty easy to understand. Although the largest city in the Midwest can certainly seem expensive at times, the cost of living here is significantly lower than coastal cities such as New York or San Francisco, with some statistics even showing as much as a 30 percent difference. In addition, it’s because of this centralized Midwestern location that makes travel to and from the city relatively quick and easy for clients, contractors, and outside employees working at a different office in another city.
So if your business is expanding or you have aspirations of starting the next big thing in digital technology, why not consider a stylish loft-office space in Chicago’s River North neighborhood? After all, if it’s good enough for Google, it’s good enough for you.
Ted Guarnero, REALTOR® is a full-time real estate agent with over 1000 homes sold and $400 million in sales. Working with Compass real estate offering professional and effective real estate services to help you succeed in the local real estate market. Visit www.seeChicagorealestate.com for information on downtown Chicago real estate and to get in touch with an expert in the Chicago real estate market. Before you hire your next Realtor call Ted Guarnero 855-See-Chicago, it's on the House !