Tag Archives: live/work/play

Retail therapy draws tenants to suburban Class A product

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Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.

Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Fashion Outlets of Chicago appears to be flagging, JLL Research attributes that to lack of concentrated Class A buildings surrounding the retail center and the size of nearby O’Hare airport.

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Chicago 2025: In the shared economy, do you know who your customer is?

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Spoiler alert. In the shared economy, everyone’s customer is the end user. The knowledge worker, the talent, the Millennials, whatever you want to call it. At Chicago 2025, JLL Chicago’s marquee event held earlier this month, we heard from some of the industry’s top thought leaders on how they’re navigating the shared economy’s major changes to the way we operate.

shared economy

Panelists John Gavin, Andrea Zopp and Chris Kelly

The No. 1 thing tenants talk about is talent, said World Business Chicago president and CEO Andrea Zopp, which is positive news for Chicago. We’re drawing college graduates at a higher rate than our comparable cities because people are looking for quality of life, affordability and a wide variety of housing options to evolve in an urban environment. And what talent wants is driving both major business decisions and major municipal ones, like Chicago’s investment in Divvy, our bike share program. All employers want is the ability to compete, and Chicago’s diverse economy, connectivity, access to transit, and quality of neighborhoods are all formidable tools for their arsenal. Expect forward-thinking initiatives like the planned express train to O’Hare to go a long way in attracting and retaining our major corporate occupiers.… Read More

This office will make you drop everything and move to the suburbs

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The suburban office market is changing in response to two notable trends. While many corporate users have vacated their longtime campuses for the allure of the live/work/play life downtown, others are recommitting to the suburbs and collaborating with creative landlords.

Click below for our Project Profile on Innovation Park, Lake County, where industry meets inspiration.

Innovation Park

When office park innovator BECO Management acquired the former Motorola Mobility campus in Libertyville in 2014, it fused both trends, creating an urban environment within a suburban landscape. After buying at a low basis and kicking off a large-scale redevelopment, the D.C.-based investor recently chose JLL to market Innovation Park, Lake County.

BECO built it, and we’re making sure they come. As dozens of brokers tour the property each month, the most common reaction is “I had no idea.” With services from meals to daycare and fitness to laundry, employees never have to leave. The productivity implications are profound. Nowhere else can your day include an on-site massage, team bonding in the game room and soaking up sun on the bike path. We’re telling a singular story, and two major tenants have already signed on: Valent Biosciences (98,000 s.f.) and Brightstar (65,000 s.f.).

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Commuting in the suburbs: A SWOT analysis

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In a market as large as suburban Chicago, getting to work can be around the corner or a major undertaking. Our Research team recently completed a suburban SWOT analysis, determining the top three modes of transportation used to get to the office in each submarket. Roll over each submarket below for the details.

Strength: Public transit

Public transportation, from the L to the Metra, has been a boon to several… Read More

The MTV Generation grows up: Generation X as CEO

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“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

Cracking the code: Find your tech talent in Chicago

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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.

tech talent

Concentration of employees working in the computer field

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:… Read More