Since 2008, downtown Chicago has attracted 88 suburban and 13 out-of-market companies, of which 32 have been headquarters relocations. If your company is thinking of making the move or you’re just curious about new neighborhoods, take this headquarters quiz and land on the best submarket for your team!
While corporate real estate strategies are definitely one-size-fits-one, headquarters relocations seem spurred by surprisingly similar reasons. We wouldn’t call this kind of groupthink a bad thing, rather a natural reaction to a global demographic shift. You can’t ignore more than one million people moving into cities every week.
We analyzed the corporate press releas es associated with Chicago’s 32 headquarters relocations since 2008, paying close attention to quotes from each CEO. These leaders have waxed philosophic, strategic, straight up practical and everything in between in their commentary, offering a glimpse into larger pushes for organizational change and innovation.
Our word cloud above sizes words based on how frequently they’ve been used by CEOs. Roll your mouse over each word to see a sample quote and we’ll dig into the top reasons for moving below.… Read More
“A person should not believe in an -ism, he should believe in himself.” –Ferris Bueller
Generation X grew up unsupervised, independent and decidedly anti-establishment. This small, often overlooked cohort entered the corporate world with little fanfare but a wildly different attitude, shirking preconceived notions of work and traditional business dogmas.
Bringing an entrepreneurial mindset to Corporate America has been a major Gen X contribution, bolstered by fluency in technology, prioritization of work/life balance and a fierce pursuit of individuality. Now entering the leadership roles of the C-suite, this generation is the innovative force behind today’s workplace trends—especially their companies’ defining headquarters moves.… Read More
The downtown Chicago office market recorded record-high rents and vacancies at or near all-time lows in 2016. The city is a robust tech hub, bolstered by an extensive transportation network and proximity to one of the busiest airports in the world—connecting Chicago with other U.S. and foreign markets. Unemployment continues to diminish as graduates from nearby top-tier universities enter the local workforce in a diversified economy. Despite this economic growth, the City of Chicago and the State of Illinois continue to grapple with the budget crisis.… Read More
A lifetime committed to becoming a professional hockey player taught Steven Spinell the value of hard work, time management and teamwork. Coming from a real estate family opened his eyes to the endless opportunities for success in the industry.
After bonding with fellow Miami of Ohio alum Ben Erskine on JLL’s Suburban Tenant Representation team, Steven joined as Associate in 2016, focusing on companies in the North Market as well as national business development for JLL’s Build to Suit Practice Group. “It’s unbelievable how much detail goes into the build-to-suit process. Through years of experience and high-profile projects, John Musgjerd and Ben Erskine have mastered all the moving parts,” said Spinell.
Typical day: I’ve transitioned from a team support role to being the boots-on-the-ground guy. I focus on business development, primarily in the North Market under Dan McCarthy‘s guidance, as well as pursuing build-to-suit opportunities for our practice group. You’ll find me on the phones prospecting, working on financial analyses and providing transaction support.
The 411 on JLL’s Build to Suit Practice Group: Build-to-suit projects are tremendously risky and complex.… Read More
JLL Research’s recent technology office outlook revealed incredible opportunity in the Chicago tech sector and we’re here to look behind the numbers.
This week the JLL team joined Zurich North America to celebrate the grand opening of the firm’s new 783,800 square-foot Schaumburg headquarters. While the historic project has been years in the making, Wednesday’s event was highlighted by the announcement of the project’s LEED Platinum certification, the highest rating by the U.S. Green Building Council.
After the ceremony and some entertainment by the Zurich employee choir, JLL Sustainability Practice Lead Keara Fanning took us on a green tour, showcasing the industry-leading outcomes achieved by the team’s LEED Platinum pursuit:… Read More
Once the world’s largest structure with its very own zip code, the Merchandise Mart has transformed into the beating heart of Chicago’s tech scene. From 1871’s fledgling firms to giants like Yelp and Braintree, the Mart is a retro-chic playground for today’s tech elite.
The Mart’s foundation as a tech epicenter started in the 1980s, when ownership launched a $100 million modernization of the building’s lobby, façade and most important, major upgrades to utilities, JLL Senior Research Analyst Hailey Harrington told Bisnow.