Looking to snag a computer programmer on sale? Chicago should be your startup’s tried and true market of choice, given its status as the rare, affordable, large urban market.
“Competition for tech talent, as well as good plug-and-play tech spaces, is fierce,” said Jesse Van Dyke, Managing Director and co-lead of JLL Chicago’s Technology Practice Group.
The market’s tech ecosystem can be the best indicator of potential job growth and industry stability. Consider planting your tech flag in Chicago, a great location at a great price:
Large urban market
Chicago offers top-tier talent, accessible transit, life/work/play amenities and a storied culture. Even as the local employment market tightens, these attractors make it easier to lure people from outside the market to migrate to the Windy City.
Accessible, and economical talent pool
The sheer number of computer programmers (3rd in the nation at 70,000), with a median annual salary of $92,000, makes for a healthy and dynamic recruiting pool. The race for programmers and software developers is on, but with salaries so tempered the barriers to entry are low.
Reasonable real estate costs
Class A CBD rents range from $32 and $46 per square foot, a discount that can’t be ignored compared with San Francisco and New York’s $70 per square foot average. And the earlier you enter a market, the more likely you’ll find additional concessions to sweeten the deal.
A bright future
More than 5 million square feet of development on the way means there’s something for everyone across submarkets and property types. One size never fits all when it comes to office space, and such a robust pipeline allows companies to take a hard look at their space requirements and find an asset best-suited to accommodating them.
In a market where tech hubs are experiencing historically low unemployment, it’s critically important to understand your options. Read our research report on where to find tech talent here.