Bond Collective is the latest co-working firm expanding to Chicago, with plans to add 100,000 square feet of luxury shared offices in the city this year.
The New York-based firm plans to open a 68,000-square-foot location in the Civic Opera Building, 20 North Wacker Drive and a 31,000-square-foot space at 1101 West Lake Street in Fulton Market, CEO Shlomo Silber told the Chicago Tribune.
Bond Collective, founded in 2015 as Coworkers, has locations in Manhattan, Brooklyn and Philadelphia, and is expanding Los Angeles, Houston, Nashville and Austin, Silber said.
The firm bills itself as luxury co-working, setting itself apart from competitors with higher-end finishes.
“Our members want a space they’re proud to have investors or clients visit,” Silber told the Tribune. “Not everyone wants music playing in the lobby and people drinking beer at 2 p.m.”
Bond Collective’s move into the Chicago market comes on the heels of No18’s announcement it plans to take three floors in the office tower under construction at 110 North Wacker Drive. Like Bond Collective, No18 says it offers an elevated co-working experience, billing itself as a “cosmopolitan members’ club for business.”
Chicago’s co-working industry has tripled in four years, with shared-office firms now controlling about 2 percent of the Downtown office market. The growth does not appear to be slowing, thanks in no small part to industry leader WeWork’s continued expansion in the city. [Chicago Tribune] — John O’Brien