Chicago's status as a tech hub continues to grow and with it demand for office space by startups and tech firms. The Second City landed in ninth place on CBRE's Tech-Thirty list, which analyzes the 30 leading technology markets in the US and Canada in terms of high-tech software and services job growth.
That's a jump of four spots from last year's report and another sign of the vibrancy of the city's tech sector. Between 2013 and 2015, local tech market jobs expanded 21.1%, while tech sector jobs accounted for 24.8% of all new office jobs.
Nationally, tech firms accounted for 20% of all office leasing in H1 2016, and Chicago is among the markets where tech office leasing is outperforming the overall market in leasing activity and rent spreads. River North, Fulton Market and the West Loop continue to be the most attractive markets for tech firms seeking office space, but the report indicates River North, with the lowest office vacancy rate in town, is posing challenges for firms entering the market.
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