TeamWorking by TechNexus has significantly expanded its footprint in Chicago's tech and startup ecosystem, now occupying over 100,000 square feet in the historic Civic Opera Building at 20 N. Wacker Dr. This expansion, facilitated through a management partnership agreement with the building and represented by JLL, establishes TeamWorking as the largest single coworking location in Chicago and one of the most substantial transactions in the West Loop area.
The space 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 the best tech companies in Chicago come to scale.' The emphasis on collaboration and community has made it a preferred location for Chicago's most innovative organizations.
With amenities such as a rooftop terrace, fitness center, podcast studio, and meeting facilities for up to 175 guests, TeamWorking caters to the modern business's needs. Its appeal is further enhanced by its central location and easy access to major transportation hubs, making it an attractive option for companies like McDonald's and Airbnb for event hosting.
This expansion reflects broader trends in the commercial real estate market, with increasing demand for flexible, amenity-rich workspaces. Deanna Becker, JLL's Executive Vice President, noted the significance of TeamWorking's growth as indicative of the surging momentum in Chicago's downtown office landscape. The expansion not only provides physical space for growing companies but also underscores the importance of collaborative environments in driving innovation and economic growth.
TeamWorking's evolution from its establishment in 2007 to becoming a cornerstone of Chicago's innovation ecosystem, with a community of over 750 alumni, demonstrates the changing dynamics of work environments. As the largest coworking space in Chicago, TeamWorking is set to influence the future of work in the city, offering a model for how collaborative spaces can support the growth of startups and established companies alike in a rapidly evolving business landscape.
