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Chicago Cheat Sheet: Tech firm expanding in River North, housing plan for former inmates…& more

PerkSpot will take nearly 30,000-square-feet in a River North loft building

PerkSpot founder Chris Hill and 320 West Ohio Street (Credit: 42 Floors)
PerkSpot founder Chris Hill and 320 West Ohio Street (Credit: 42 Floors)

Tech firm doubling its River North footprint
Growing technology company PerkSpot will double its footprint in a River North office building to accommodate its rapid growth. PerkSpot, which allows companies to offer discounted goods and services to their employees, will take nearly 30,000 square feet at 320 West Ohio Street, a seven-story loft building. The firm recently doubled its headcount to 70 and plans to expand its staff to 125 by 2020. [Crain’s]

Task force unveils housing plan for former inmates
A report from the Metropolitan Planning Council and the Illinois Justice Project is asking the state to create a housing rental subsidy program for some recently released Cook County jail inmates. The goal of the program would be to find stable housing for those recently released from jail, who often find scarce housing options because of a lack of job and their criminal background. The program could reduce recidivism rates, saving the state $100 million in correctional facility costs. [Sun-Times] 

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Suburban office market experiencing rough patch
Suburban office vacancy continues to creep up with rates increasing 120 basis points to 27.5 percent at the halfway point of the year. Vacancy for Class A offices has even increased, jumping by 200 basis points to 26.8 percent. Suburban office landlords are still dealing with an exodus of companies to the central business district, and an amenities arms race is not helping their bottom line. [Bisnow]

Two museums proposed for Downtown Naperville
The CEO of Naper Settlement, Naperville’s downtown museum campus, wants to bring two new museums to the development, but the city is not yet sold. Naper CEO Rena Tamayo-Calabrese has unveiled plans for an “innovation gateway” and an “agricultural interpretive center” to the site that already houses a history museum. The group is asking the city to fund one-third of the $3.7 million project, but Naperville leaders have not yet signed off. [Daily Herald] 

Developer changes plans for Noble Square resi building
With neighbors rejecting a plan seven-unit residential development in Noble Square, the developer is now changing up his plans. Instead, developer Wellie Partners will seek approval for a four-unit building with an additional unit above an attached garage. The neighborhood’s alderman, Daniel La Spata, has yet to weigh in on the project. [Block Club]

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