The River North neighborhood of Chicago is experiencing the same sense of rapid growth and transformation seen throughout Chicagoland these days. Once an industrial hub for the entire city, River North is redefining itself to meet the evolving demands of a growing tech movement and innovative push across much of Chicago.
TenantBase has assembled an insightful guide to prepare you for your search and help you find the ideal office space within the dynamic River North section of the city. Take an organized approach with your efforts and an eye towards your company’s present and future demands and this vibrant neighborhood of Chicago will serve as a welcome home to a successful future.
Office Space in River North
River North was once known as an industrial center for much of Chicago and the surrounding area. Times have changed and River North is once again in the middle of a neighborhood transformation where marketing and advertising firms are quickly making room for other types of creative firms, technology startups, and interior design companies.
The office space in River North is primarily Class A+, loft space, and coworking space that averages 5,000 SF. Median rents are approximately $35/SF in older buildings as much of the new construction focuses on low to mid-rise, high-end residential properties. There is also a growing availability of first-floor retail space in much of the new construction.
Working in River North
Parking is not typically included with a monthly lease so employees must use either street parking or lots that tend to be crowded and expensive. Those parking limitations have given rise to bike, scooter, and skateboard trends to easily navigate the congested streets. The city has taken note of these trends and is investing in additional bike lanes to better accommodate and promote alternative commuting options.
Chicago’s famous ‘L’ trains are another convenient option for daily commuters. Those that prefer to Park & Ride their way to work can easily navigate to River North by both the Red and Brown ‘L’ lines via the Grand, Merchandise Mart, and Chicago stations. Several bus routes also serve the River North area for additional commuting options making it a far easier neighborhood for commuters than space along the Loop.
The many amenities either within River North or a short walk away make it especially useful in attracting talent to a company that calls the neighborhood home. Employees have ample dining and entertainment options with River North’s several restaurants, bars, and nightlife venues on both Hubbard and Kinzie Streets. The neighborhood’s proximity to North Michigan Avenue and the Magnificent Mile also provides convenient access to Chicago’s famous high-end shopping district for retail options. For employees in search of a unique experience, the Riverwalk is another attractive amenity with its 1.25 miles of riverside walking trails and many dining and entertainment options of its own.
River North is a vibrant neighborhood with a lively pulse, convenient transportation, several nearby residential areas, and amenities to spare. As your local commercial real estate experts, let TenantBase help you find the ideal space in this attractive neighborhood and establish a solid foundation for your organization’s prosperous future.