This four-story brick building on Halsted Street, which is across from the NewCity development, will be the site for a Spaces co-working office. Amsterdam-based Spaces has leased three floors in the building, in the Goose Island neighborhood. An Ethan Allen furniture store is planned for the ground floor.(SVN Chicago Commercial)
Spaces is entering the Chicago market, leasing 27,110 sq ft over three floors in a four-storey loft office block on Halsted Street, which is owned by developer Newcastle Limited. The location is expected to open in Q1 2018, and the firm plans to open six to 10 locations in the Chicago area over the next 18 months. While data from Newmark Knight Frank and Regus predicts co-working firms in Chicago will occupy over 1.5 million sq ft by year end, up from 1.1 million sq ft in 2016, smaller operators are said to have found it difficult to scale and compete with larger firms, and consolidation in expected. Spaces members can also use Chicago Creative Space' offices for meetings, including the firm's 46 Chicago area locations.