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Downtown Chicago Flex Space Demand Picks Up for Larger Users
Although demand for flexible workspace in Chicago is forecast to be down 14% between 2021 and 2022, the second half of 2022 has outpaced the second half of 2021, The Instant Group reported. Workspace supply, including co-working, serviced, and hybrid office spaces, has increased 5% year-over-over, to 139 spaces.
Demand, while down from 2021 and yet-to-recover from pre-pandemic demand, is up 5% from 2020. Notable differences were found in demand for size of space compared to 2021:
- Inquiries for 0-2 desks were down 24%
- Inquiries for 3-9 desks increased 25%
- Inquiries for 10-25 desks increased 16%
- Inquiries for 25+ desks increased 33%
“We are seeing the 0-2 workstation clients are finding they can work from home just as effectively as being in an office, while the 3+ workstation clients are needing the cross-team collaboration time,” said Brian Childers, The Instant Group’s director of digital solutions.
- ◦Lease
