TeamWorking by TechNexus has significantly expanded its presence in Chicago's tech and startup ecosystem, now standing as the city's largest coworking space following a major expansion at the historic Civic Opera Building. This expansion brings the total area to over 100,000 square feet of suites, offices, and event space at 20 N. Wacker Dr., marking a pivotal moment for collaborative work environments in Chicago.
The expansion was facilitated through a management partnership agreement with the building, with JLL representing TeamWorking in the transaction. This not only solidifies TeamWorking's status as Chicago's largest single coworking location but also marks one of the most significant transactions in the West Loop area. TeamWorking, an initiative of TechNexus Venture Collaborative, serves as a critical hub for tech companies aiming to scale, hosting more than 80 firms including notable names like Ocient, Network Perception, and TruckSmarter.
Fred Hoch, co-founder and general partner of TechNexus, highlighted the space's role in fostering innovation, stating, TeamWorking is where Chicago's top tech companies come to scale, emphasizing the importance of collaboration and community in driving growth. The expanded facility offers modern amenities such as a rooftop terrace, fitness center, podcast studio, and meeting spaces capable of hosting up to 175 guests, attracting major brands for events.
This development reflects broader trends in commercial real estate, with increasing demand for flexible, amenity-rich workspaces. Deanna Becker of JLL noted the expansion's significance in Chicago's downtown office landscape, pointing to the growing preference for collaborative environments. TeamWorking's growth, with a community of over 750 alumni since 2007, underscores its role in Chicago's innovation ecosystem, supported by its prime location and accessibility.
As Chicago's largest coworking space, TeamWorking is set to influence the future of work in the city, offering not just space but a platform for innovation and economic growth. This expansion is a testament to the evolving needs of the tech and startup communities, reinforcing the value of collaborative workspaces in fostering business success.
