Average Cost of Coworking Spaces in Chicago

Chicago is one of the American Midwest’s crown jewels, with spectacular architecture and eye-catching grandeur that only Manhattan can match. Numerous unique institutions, including the renowned Art Institute of Chicago, provide ample cultural appeal, while a thriving bar scene provides ample nightlife.

Nonetheless, the city is home to some of the most determined entrepreneurs and business people in the world, which means it is brimming with some of the most beautiful coworking spaces you’ll ever see. Entrepreneurs, authors, community activists, IT experts, and others thrive in Chicago’s coworking spaces because they are innovative work environments.

These modern workplaces, which provide professional workspaces and community outreach outside of residences, coffee shops, and traditional office locations, have grown in popularity over the last decade. Individuals and startups can find coworking spaces throughout the Windy City.

How Much Is the Average Cost of Coworking Space in Chicago? 

 

Chicago is the fourth most searched market for Flexible Office, trailing only New York, San Francisco, and Los Angeles. According to a 2021 study by the Flex Office Pro Market Data and Insights Platform, the average monthly rent for a coworking space is $350 per person in Chicago. In comparison to the national average of $379 per person per month, this makes Chicago affordable.

Corporate real estate executives and the C-suite are expanding their real estate portfolios to include both core and flexible offices. The term “core” refers to stable office space that businesses lease for long periods of time. The core office is mostly used for headquarters or established markets. Companies rent flexible offices for hours, months, and years in order to provide satellite space, expansion space, and employee mobility. Flexible offices are frequently furnished, serviced workspaces – from coworking to serviced office to direct from the building.

Renting flexible office space is frequently less expensive than renting traditional office space. However, the costs are higher in Chicago than in other markets. According to JLL, leasing of core office space has slowed and pre-leasing is at 31.2 percent. Renters in Chicago can expect to pay $39.66 per square foot for core office space. A core space costs about $5,949 per year at 150 square feet per employee. The average cost per person for flexible office space is $329, for a total annual cost of $3,948.

Find a Coworking Space in Chicago

Check out the pricing table below for coworking spaces in Chicago. There are numerous coworking spaces in Chicago, so here’s a list of those that represent the city’s diversity.  

WeWork Chicago

WeWork is synonymous with stunning interior design that will inspire you to return to work every other morning. WeWork Chicago has twelve locations spread out in all directions. Depending on your needs, you can choose from hot desks, dedicated desks, or private offices.

WeWork is also the best place to meet the brightest minds in the industry, whether they are freelancers, innovators, or even entrepreneurs. Furthermore, you will receive everything you need to quickly establish an amazing brand. The micro-roasted coffee and fruit water are highly recommended!

The prices vary between WeWork locations in Chicago. However, at the Monroe Street location, the minimum coworking price starts at $250.

Industrious Chicago

Industrious, another top Chicago coworking space has locations across the country. There are eight locations in Chicago with equally amazing interiors. Working will always be a leisure activity here because the furniture is ergonomic.

In addition, it serves daily local specialties to its members, such as gourmet Dark Matter coffee, Bennison’s pastries, and even local beer. The daily afternoon snacks are also delectable. Furthermore, the well-designed conference rooms and common areas are ideal for all types of business meetings.

The weekly happy hours are the best part of being a member of Industrious Chicago. These are the best opportunities to meet people who share your interests. Coworking memberships start at slightly more than $400. You can also opt for private offices, which come in a variety of sizes and prices.

Serendipity Labs Chicago

Serendipity Labs is an excellent opportunity to advance your career. It provides premium facilities and upscale interiors that allow you to work comfortably. Furthermore, you’ll be able to focus on the big picture while Serendipity Labs Chicago handles the minor details.

The Serendipity Labs Chicago Loop location is in an excellent location. You’ll also have plenty of space to choose from, whether you’re a solopreneur or part of a larger team on a mission.

Serendipity Labs Chicago offers a variety of membership plans that have been designed to be flexible so that you only pay for what you use. Coworking plans start at $49 per month and go up to $499 per month. Permanent desks and team rooms are more expensive. But they are definitely worth the money!