With a history of mercantile trade, the once industrial River North has transitioned into one of Chicago’s popular neighborhoods. The neighborhood has transitioned to a true work-play live neighborhood that provides easy access to the highway. Fashionable and trendsetting, it’s an artistic hub that has lured the interest of various commercial businesses, so many entrepreneurs and companies are eager to find an office to rent in this thriving neighborhood.
However, finding and leasing commercial space can be tricky. It’s time-consuming and does not happen overnight. Many of today’s tenants are looking for all-inclusive (included utilities, taxes, fast Internet, etc.) offices that meet their work-life-play demands. It’s less about how to find an office to rent and more about how to get an office that supports the work-life balance. Also, you need to calculate how much office space need per employee.
Here are four tips on how to find office space to lease.
Searching the Internet
Are you wondering how to find office space for lease? If you’re browsing to get a feel for the commercial property market, online is a good place to begin. Loopnet, Crexi, Google, and Liquid Space provide a bird's-eye view of what’s out there. In addition, these platforms have filtered search options, allowing you to find your exact specifications.
What's more, you can see who the commercial property brokers are in your area and find contact information that will allow you to reach out to them for help. If you go that route, it’s good practice to seek legal counsel to help negotiate a fair lease if necessary.
Chat with Business Owners
Often it’s not about how to search for office space but rather whom to ask. Business owners will know the neighborhood and may provide insightful information on landlords or inform you of upcoming property for lease. They’ll also be able to offer general information about the area that you won’t find in glossy ‘to lease’ listings.
Another option is to put feelers out to the local chamber of commerce and neighborhood business networks. Chances are, someone will know how to get an office space for you or can point you in the right direction. Social media groups and physical networking events are great places to do commercial property research.
Use Commercial Real Estate Broker Services
Commercial real estate brokers are dedicated to leasing and selling property and know how to rent commercial office space to suitable professionals. Brokers typically list all their properties online, however, they may have listings that have not been posted, so it’s best to speak with them in person. They’ll ascertain your needs and match you with several options they believe the best suit your requirements.
As part of their services, they typically assist in negotiating leases and will help you get the best deal. Furthermore, they can negotiate rates, build-out allowances, and rental abatement periods. Brokers are middlemen, and sometimes if a landlord is difficult, it’s better to have someone act on your behalf. In most cases, property owners pay real estate brokers once a deal is made, meaning it won’t cost you a single dollar.
Take a Ride and Look Around River North, Chicago
Still contemplating how to find office space for lease? And how much does it cost in Chicago? Drive or walk around the neighborhood you are interested in. See if there are buildings with ‘for lease’ signs. While this activity might be time-consuming, it gives you a true sense of the neighborhood your future office will be in. You may discover your ideal spot is too noisy, or the traffic is bad, and perhaps even stumble upon the perfect street.
Take note of the numbers of the ‘for lease’ signs you’re interested in. Then, see if you can find the properties online or call the brokers to find out more. You may meet a broker who likely has other listings or be able to negotiate with a landlord who is looking for a professional tenant.
If you’re searching for an office space to rent in River North, Chicago, we can help. Save time and contact Stream Realty Partners. From explaining the benefits of open office space to advising how to find a small office space, our expert time can walk you through every step. Call us to find out more about our modern office for rent.
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