Start-up Looks for Price, Parking & Perfect Space!

Challenge:  Workshop Chicago is a start-up co-working company whose vision is bringing talented, thoughtful people together in a work environment that helps create personal and corporate growth as well as a place to share ideas, skills and tools in a creative environment.  As a new company Workshop Chicago had some very specific ideas of what they wanted to achieve.  First they wanted a fun, creative, brick and timber loft space that would adhere to their vision of creativity.  Secondly, as a new company, and wanting to keep costs down for their clients, they were looking for a below market rent.  Lastly, they wanted a place that was convenient for people taking public transportation as well as those riding bikes and either inexpensive or free parking.

Action:  Workshop Chicago retained Office Space Chicago to identify locations in Chicago’s west loop, river north and river west areas.  OSC’s intimate knowledge of these areas including some spaces that were not being actively marketed.  After a comprehensive search Office Space Chicago prepared an office tour and took the Founder of Workshop Chicago out to look at options that fit his budget.  The tour quickly turned out a short list of properties, with a clear front runner.  Negotiations began including not only reducing the rent to a below market rate and terms but included an extensive retrofit of the space, creating the exact vision that Workshop Chicago had from the beginning.

Results: 

• Office Space Chicago negotiated a rental rate $5.00 per square foot below competing buildings.
• Workshop Chicago has the creative loft space that exactly fits their vision.
• The building is close to public transportation, is bike friendly and offers free parking!
• Workshop Chicago is thriving in its new space.