About Chicago Office Space
Long before Boxer Property began leasing Chicago office space, the city started as a fur trading post in the 1790’s. Incorporated as a city in 1837, the location on Lake Michigan still makes it an ideal location for trade and commerce. Even today, Chicago is a port city with a thriving financial and industrial trade, making it a great place to lease office space. Manufacturing is still a driving force in Chicago.
Chicago dominated the fur trade until pork and beef emerged as the new industry in the 1850’s. Two household names – Swift and Armour – got there start here. The Civil War increased the need for potable meat products for soldiers in the field, and Chicago had the transportation infrastructure to ship meat both by rail and barge to the Northeast.
After the city was nearly destroyed in 1871 by the Great Chicago Fire, which destroyed nearly 2,000 acres of the city, it became one of the fastest growing cities in the country, making it an ideal location to hold the 1890 World’s Fair. The city is also famous for Wrigley Field (home of the Chicago Cubs baseball), the Art Institute of Chicago, Chinatown and Sears Tower, the tallest building in the United States. Outdoor living is good in Chicago too with 552 parks accounting for 7,300 acres of green space.
Prior to 1890, Chicago grew to a city of 1 million people and was one of the fastest growing cities in the country at the time. This distinction made it an ideal place for the 1890’s World’s Fair, something Chicago is still famous for more than 125 years later. According to the 2010 Census, Chicago’s population today tops 2.7 million people.
Within the city of Chicago, are many very ethnically pure neighborhoods. Back in the 1920’s, a team of academics from the University of Chicago laid out the city with 77 unique communities – with the idea of a separate place for everyone. Chicago has the 3rd largest Czech population in the world; the 3rd largest African-American, and Puerto Rican populations in the U.S.; and the 4th largest Mexican population in the U. S. One in five people here were born elsewhere, with ethnic diversity running the gamut from Irish, German, English, Iranian, Arabic, Czech, Polish, Russian, Swedish, Dutch, Mexican, Puerto Rican, Greek, Vietnamese, Korean, Chinese and Indian.
Business Space in Chicago
Chicago is home to 29 Fortune 500 companies and is a major transportation and distribution center. Manufacturing, printing, publishing, insurance and food processing also are a major part of the economy.
Some of the many companies calling Chicago home include Walgreen, Boeing, Kraft Foods, Sears, OfficeMax, Abbott Laboratories, Tenneco, United Continental, Allstate, McDonald's, United Stationers, Exelon, Sara Lee, CDW, Motorola Solutions, Discover, Dover, Morton Salt, Quaker Oats, Wm. Wrigley Jr. Co, W. W. Grainger, CareerBuilder, Blockshopper, Cars.com, Groupon and Orbitz.
Five major financial exchanges call Chicago home, including the Chicago Stock Exchange (CHX), the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT).
There is one major business district to consider when looking to lease office space in Chicago – The Loop. The Loop is Chicago’s Central Business District and is the second largest business district in the U.S. It is densely populated with some of the tallest skyscrapers in the world, and is home to both commercial businesses and many cultural organizations, including the Art Institute of Chicago, the Joffrey Ballet, and the Chicago Symphony Orchestra, making it an ideal place to lease office space. The Chicago Board of Trade and Chicago Mercantile Exchange has its home here too.
The area features some of America’s first skyscrapers, an eclectic mix of historic buildings and newer mixed-use developments make the Loop an appealing business center.
The Loop is also known as the Loop Retail Historic District, and it features an abundance of shopping. The area includes the Magnificent Mile, known to attract upscale shoppers from around the world, and the Theatre District featuring numerous cultural venues, bars, restaurants and hotels. The area is dotted with outdoor sculptures by world famous artists like Pablo Picasso, Alexander Calder, Joan Miró, Henry Moore and Marc Chagall. The businesses here range from banks, financial services, airlines, publishers, healthcare, and advertising and consumer product companies. The historic Michigan Boulevard District is also here and is located across from Grant Park.
The Art Institute of Chicago, the Chicago Symphony Orchestra, the Goodman Theatre, the Chicago Theatre and the Lyric Opera are in this area. Along the lakefront is Grant Park where the Grant Park Symphony performs free summer concerts at the Petrillo Bandshell, and the Taste of Chicago an annual 2-week gastronomical festival to great eating is held. Millennium Park includes fountains, sculptures and a performance pavilion. This area is also where boat tours take visitors on tours of the city to view the diverse architecture.
The New Eastside is a mixed-use district with vintage 1970’s skyscrapers, new condominiums and hotels. The triple-level street system here keeps traffic flowing through this busy section of the city.
In the South Loop, historic buildings house publishing houses and printers in Printer's Row (Printing House Row). The area contains newly renovated lofts and condos too. Dearborn Station, the oldest original train station in Chicago was converted to retail and office space. The area was considered a skid row, complete with brothels, bars, strip clubs and gambling until the 1970s when the area was redeveloped.
Facts about Chicago:
The City of Chicago sits at 583 feet above sea level and is only 234 square miles in area, but when including the greater Chicago region, it spreads over 2,122 square miles.
The 2010 Census reports Chicago’s population at 2.7 million people. Roughly one third of the residents are Caucasian, one third African-American and one third Hispanic, and a small percentage are other races.
Chicago is a young city, with a median age of 32 years old. Nearly one-third of the city’s population is under the age of 18 years old.
Chicago weather is messy with an average rainfall of 37 inches and an average snowfall of 38 inches; the sky is always dumping some kind of moisture on the city.
The average low temperature in January is 22° F, and the average high temperature in July is 75° F.