Healthy Economy Means Warehouse Space in Chicago is Harder to Find

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A sure sign that the economy is healthy and thriving is the amount of available commercial or industrial real estate on the market. Amenity-rich, easily accessible and affordable Warehouse space in Chicago is getting tougher to find in this market. Several pieces of recent data have shown us that the amount of available space and that the time it takes to sell that space are both down. Also, that the industrial real estate market is enjoying a five-year win streak. These factors are making it difficult for companies searching for suitable warehouse space in the Chicago area.

Online retailers and shipping firms have increased the need for conveniently located warehouse space. Now that our economy is stabilizing Americans are buying more furniture, large appliances and other goods than they have in a decade. More companies are finding that they need a warehouse or industrial space to serve their customers successfully. And they need this space to be accessible to major expressways, railways, and airports. This means there are more tenants searching for available space in all of the same areas. But the right space is not easy to find. According to a recent article in Crain’s Chicago Business, “after dropping for seven quarters in a row, the vacancy rate is now at its lowest level since third-quarter 2001”.

Another statistic that shows how tough it is for warehouse tenants currently is that the industrial real estate market is on a five-year winning streak. A study published this week states “nearly 4.3 million square feet of industrial space was absorbed during the first quarter of 2015 in the Chicago market”. (Source) And 83% of that square footage sold was warehouse and distribution space. While this is good news for real estate professionals and building owners, it’s bad news for companies looking for a new lease.

Owners of warehouse space are finding that it’s taking fewer days to move their property. A recent CoStar report stated that properties in the first month of 2015 “sat on the market for an average of 390 days…down from an average of 417 days in January of 2013.” It’s more important than ever to make sure that you do your research and homework before starting out down the road of searching for warehouse space. With fewer suitable options, you must ensure that you can find a location that will make things easier on your business operations. With such a strong market, you may also see higher prices for spaces that do come available or fewer amenities and perks for tenants.

A Solution to your Warehouse Space Problem on the North Side

The Bradley Business Center is your answer to the problem of finding spectacular warehouse space in this busy market. Located on the North Side of Chicago, our spaces offer proximity to O’Hare airport and the Kennedy Expressway. Our agent will work with you to discuss lease options that will best suit your budget and growth potential. We offer amenities such as a fitness center, technology solutions to help with operations and ample parking for you and your customers. Please contact us to learn more and to find out how you can get situated in your new location at the Bradley Business Center while our amazing warehouse space is still available. We look forward to helping you in this busy market!

Flexible Office Space – Exploring the Benefits and Common Misconceptions

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The word “flexible” plays a big role in the life of any entrepreneur or small business. Although you spend lots of time carefully crafting plans for your business, you know that you must be open to changes. Your marketing and business plans must allow for flexibility, but what about the plans for your office? Finding flexible office space can be a game-changer and really help contribute to your overall success. We are going to explore a few of the best opportunities and most common misconceptions about working in a flexible, or shared, office space.

Benefits of Flexible Office Space

Flexible, in this case, is defined as “characterized by a ready capability to adapt to new, different, or changing requirements”. (source) Flexible office space understands that your business is constantly changing and offers many opportunities. These opportunities include:

  1. Lowering your overall business costs without having to work from home. A home office can seem like a great idea but ends up being a difficult environment in which to work. It’s also not the most professional setting for meetings. However, traditional office space can be too costly for a new business to support. Your best solution? A flexible office space offers a lower lease price while still allowing you to impress your important clients. Many flexible offices will also offer services, like internet and phone, that can come at reduced rates since others are also helping contributing to those costs in the building.
  2. Exposure to your brand and marketing without having to leave the office. Home offices provide little to no chances of networking or exposure for your business. Working at the local coffee shop may offer you a sense of community but will not contribute to your overall success. A flexible office environment allows small businesses to interact with people from many different industries on a daily basis. This opens up chances for revenue, partnerships and camaraderie, all included in the cost of your lease.
  3. The chance to expand your business when you’re ready. An office set in a flexible environment will offer you plenty of chances to add on new staff or take on new clients. If you plan on growing beyond a one-person operation, flexible offices are still a viable option for you. For example, choosing an office in a building that also offers traditional office solutions could mean taking on a larger space, without having to leave the location where you have already established your business.

Misconceptions of Flexible Office Space

Since the idea of flexible offices is a relatively new one, there are many misconceptions about what the spaces actually are. Here are three of the most common myths about flexible space:

  1. I will never get any work done because I can hear (see, talk to, etc.) everyone around me. Not all flexible office spaces are open-aired. Many spaces that consider themselves flexible look exactly like traditional office space – with four walls, doors, desks, etc. Choosing a flexible environment does not mean sacrificing your privacy. You can still find an office that allows you to share space and services, without distractions like loud noise or conversations.
  2. I won’t have help with administrative tasks or with items like greeting clients for meetings. Many office spaces that provide flexible options include staff to help you with items like answering phones and greeting clients. In fact, this actually can be listed as another benefit of these types of offices, since they can save you from having to hire additional staff.
  3. Flexible office spaces don’t offer the same amenities as other office buildings. This is just not true. Flexible office spaces actually can give you more amenities than some traditional offices. The right flexible space will include items like a fitness center, ample parking, and access to the technology needed for conducting day-to-day business.

It’s important to point out that just because a space is listed as flexible it does not mean that it will offer you the benefits you need while breaking these common misconceptions. You must carefully research and visit any office space you are considering. This is where the Bradley Business Center can really help.

Bradley Business Center boasts a few types of flexible space, or shared office space, options for small businesses. We include the amenities you need, with flexible leasing to help you save on costs. Also, because we also offer warehouse and corporate office space, we can give you a chance to grow your business, without having to leave our amazing North Side Chicago location. Please take a moment to contact our leasing agent and find out for yourself how flexible office space at Bradley Business Center can benefit both you as an entrepreneur and your ever-changing small business plan.

Creating a Productive Office Space – Using Innovation to Encourage Success

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Creating a productive office space that highlights innovation is essential to increasing the happiness of your employees and reducing your bottom line. Designing an office in today’s market that increases productivity takes much more than just picking out ergonomic furniture. A successful business must also consider that they are creating a workplace, not just an office, for their valuable employees. No decision on an office space should be made without first considering your staff’s needs. This human approach to planning will help you recruit and retain talent, and can positively impact your profits.

Develop Your Company’s Workplace Strategy

A workplace strategy must be developed before you set out to find your next location. Workplace strategy is defined as “the dynamic alignment of an organization’s work patterns with the work environment to enable peak performance and reduced cost,” according to the General Services Administration (GSA). With the rise of mobile workforces, flexible workplace strategies are required to accommodate employees. Today’s employees expect offices that include high-tech features with a collaborative spirit. Businesses are embracing a project-based style of work, which demands employee interaction and communication to be successful. Today’s employees that work inside office buildings seek spaces with an abundance of natural light, as it can be conducive to productivity and creativity in their work. This is just one example of how a well-crafted workplace strategy will lead to a much more productive office space.

Innovative Workplace Benefits

The benefits of an innovative workplace will very much outway any costs to expand to a new location. Companies that embrace innovation in their office plan find that they can leverage human capital investments, enhance their portfolio value and support their company’s mission objectives. When you incorporate new innovations, like improved lighting and HVAC systems, into your office space plan you leverage your operating costs. You may experience a significant drop in absenteeism, for example, by upgrading the office space, which means more time that your employees spend producing for the business.

Design with Your Ideal Employee in Mind

With the job market stronger than it has been in many years, companies are now competeing once again for the best and brightest talent. The look and feel of your office space can absolutely impact a candidate’s decision. Offices have to be more than just cubicle walls and breakrooms to encourage productivity and increase retention. According to a recent article from inc.com, “what it all comes down to is that a workplace is a part of the human experience, and a nicer office can help you have happier, more productive workers”. If your space offers amenities and services that will help your employees work smarter and live better you are more likely to experience a lower turnover rate. If you are about to start the planning process for a new or renovated office space, your first mission should be to get feedback on what your team does and doesn’t like about their current space. Don’t be afraid of the suggestions that you receive – they will ultimately lead to helping you cultivate more ideal employees. If you are willing to consider what your staff needs to succeed, you may also be able to save on future upgrade costs.

Location, Location, Location

Not every office space will be the suitable to your new, more innovative strategies. Choosing a building that understands how to support a productive environment. The Bradley Business Center offers single story flex and corporate office space that will encourage and enhance your productivity efforts. We just completed installing windows that stretch from 18″ off the ground to the ceiling, throughout all of our office spaces. Our spaces are full of the natural light your staff will be seeking. We aim help you increase productivity with these kinds of building improvements.

The Bradley Business Center can also help you meet your company’s financial goals, as a cost-effective, innovative office space solution. We offer superior amenities, modern technologies and features that are important for maintaining a positive company culture – all located on the north side of Chicago. Commuting to and from the Bradley Center is easy, as we are close to public transportation and the Kennedy expressway. Contact our leasing agent today and take the first step towards a better, more productive office space at the Bradley Business Center.

Warehouse Space on Chicago’s North Side

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Planning for and operating a warehouse space is quite an undertaking. It requires research, calculations and many discussions with your team. The warehouse space is often the backbone of a business and the wrong location can lead to loss of profits, workforce and customers. The Bradley Business Center can offer your company superior warehouse space. We are easily accessible on Chicago’s north side and feature a number of amenities that will be attractive to both your bottom line and your staff.

3 Highlights of Bradley Business Center Warehouse Space

  1. Location

We are located on Chicago’s north side, a bustling area with a large workforce. A strong neighborhood is important to attracting new team members. Within close proximity to the Bradley Center you will find access to major highways and public transportation, making it more than easy to get to and from our warehouse space. We are approximately 20 minutes from O’Hare International Airport, which can help reduce items like fuel costs for your company.

  1. Ideal Layout

Publications such as The Warehouse Management Handbook, offer very specific guidelines for the type of layout you will need in your space. Our facilities feature loading docks access and can allow you to create separate entrances for your shipping and office areas. Spaces in the Bradley Center have 16-foot ceilings and we currently have spaces available from 18K-114K sq ft, making us an ideal home for small to medium sized warehouse spaces.

  1. Amenities

The Bradley Center offers you the amenities you need to maintain a great working environment and successful operations. Here are just a few examples of the kinds of amenities you will enjoy with our warehouse space:

  • 1 Ton of Undistributed HVAC per 1000 sq. ft.
  • 1 Skylight per 5000 sq. ft.
  • 1 Bathroom stall per 5000 sq. ft.
  • New Roof
  • Fitness Center
  • Ample Parking
  • Onsite Building Management
  • Exceptional Power Supply

Affordable and accessible warehouse space is just a call away. Contact our leasing representative to learn more about our facilities, location and our flexible leasing programs. Work like you live, in your new warehouse space, at Bradley Business Center.

Bradley Business Center Features Office Space for Businesses Large and Small

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Bradley Business Center offers a variety of options for businesses seeking new Chicago office space. It can be difficult to analyze a location for its total potential from a search or website. We set out to make the process of finding office space a pleasant experience for each of our clients. We would like to provide you a glimpse of the possibilities available at Bradley. We divide our space into three categories – Shared Office, Single Story Flex and Corporate spaces. Whether helping a small startup or a large corporate group, our focus is to offer tenants the chance to work like they live, with modern amenities in a spectacular location.

Shared Office – A Professional Home for Your Entrepreneurial Spirit

Entrepreneurs looking for their first office; small startups seeking to unite a team; collaborative business minds wanting to step outside of the home – any of these types of professionals will feel at home in our shared office spaces. With a focus on professionalism, our shared offices provide you with a real office environment without the typical overhead expenses found with leasing a traditional office space. With your shared office lease, you get access to a state-of-the-art conference room, a built-in IT/Telecommunications infrastructure and many more amenities needed to operate your business. Unlike the larger spaces found in Chicago, our offices are semi-private and quiet, providing an environment that is suited to getting things done.

Single Story Flex – Chicago Office Space with Endless Potential

Single story flex space is for business owners seeking a home for their operational-style business or business that requires large, open space. By definition these spaces are “a building designed to be versatile and may be used in combination with office, research and development, quasi-retail sales, industrial processing or high tech.” (source) Our build-to-suit spaces offer unlimited potential and have the ability to expand to fit your business’ changing needs. Here is a list of some common uses of flex spaces, but the possibilities are endless:

  • Call Center
  • Production Studio
  • Recreational Center or Sports Facility
  • Warehouse
  • Storage Space
  • Distribution Center
Corporate Offices – Work Like You Live, in the Heart of Chicago

We haven’t forgotten about companies who are looking for “traditional” corporate office spaces. The Bradley Business Center offers important features, such as parking and access to public transportation and major highways, to allow your business draw the best talent and cultivate a team that will be with you for years to come. The team will appreciate Bradley’s extensive list of amenities. We also are proud to be located in a bustling north side neighborhood. Our neighbors are some of Chicago’s finest companies, which can bring networking opportunities and chances for new business partnerships. A corporate office location at Bradley Business Center will certainly help you impress clients and maintain a consistent workforce.

The Bradley Center features three types of office space and can be the home of businesses large and small. If you are seeking Chicago office space the Bradley Business Center needs to be your next important call. Contact us and learn more about our flexible leases, affordable prices and superior facilities.

North Side Office Space: Thinking Outside the Loop

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In a major market like Chicago, looking for office space perfectly suited to your business can be overwhelming. There are many options for space, but not every location offers the accessibility, market opportunities and affordability of the North Side. North Side office space in Chicago is still being offered at reasonable prices and includes amenities not found in the Loop. For many years, businesses would only consider offices located in the Loop. However, growth in Chicago’s surrounding neighborhoods is leading to more unique options for companies seeking new and creative spaces.

When beginning a search for an office in Chicago, it may be tempting to start in the Loop. This area, while indeed bustling and centrally located, has become oversaturated, leading to higher lease prices and less options for quality space. According to Crain’s Chicago Business, “downtown Chicago office vacancy fell for the third consecutive quarter, ending 2014 at its lowest level in six years.” The trend in commercial real estate has been to explore flexible spaces in areas that are outside of The Loop, as this increase in occupancy means fewer options.

Startups and tech companies have caught on to the opportunities available in Chicago’s neighborhoods, like the North Side. As the tech market here grows, companies are searching for spaces that will offer amenities to employees not found in downtown high rises. Ample parking, fitness centers and access to outdoor spaces draw these younger, more creative businesses to loft and single story flex spaces outside the Loop. Tech companies are growing quickly and require space that will grow with them or they will need to head to other areas. An example in a recent article points out that Food Genius, Inc., a small company that grew from two people to fourteen in three years, has moved five times in that short period. Now they are located in a more flexible space, in a North Side neighborhood, allowing them to be prepared for the next period of growth.

Not only are companies thinking outside the Loop, but they are also focusing outside of the suburbs. Once coveted for its space and ease of access and parking, suburban spaces are now becoming vacant, as more companies move to city locations to draw younger talent. As this recent Wall Street Journal article discusses, companies are seeking “urban amenities, proximity to public transit and sense of community – the same qualities young workers prize when deciding where to live and work”.  Companies such as Continental Holdings, Hillshire Brands and Motorola are all leaving their long-standing suburban homes for newer, more community friendly urban spaces. With the transition back to the city, these companies are finding that talent that once turned them down for jobs because of the commute to the “burbs” or other arguments about their location, are now accepting offers for positions. Choosing a location in the growing north side neighborhood will ensure that you can utilize this pool of young, creative talent.

Within Chicago, advancements in transportation and roadways are contributing to growth in commercial and industrial real estate on the North Side. Illinois lawmakers are in the process of working on a $1.1 trillion spending bill that will allow for improvements to the CTA Red Line on the North Side, runway expansions at O’Hare airport and a long-overdue refurbishing of Lake Shore Drive (source). This kind of progress will only make Chicago’s North Side office space more attractive to companies seeking new space. Neighborhoods on the North Side are also amongst those offering “walkable living” to its residents. Newly planned transit-oriented residential developments will focus on car-free living and can draw a younger demographic. These kinds of investments in green living bring a desirable demographic for a solid labor force. One such development is planned for 3400 N. Lincoln Ave., which is located near the Bradley Business Center.

Are you ready to think outside of the Loop and move to Chicago’s North Side? The Bradley Business Center can offer your company a perfectly appointed, flexible North Side office space. When you choose Bradley you benefit from being located in a thriving neighborhood. O’Hare Airport, the Kennedy Expressway, public transportation, and a vibrant workforce are all found just steps from the the Bradley Business Center. We also offer great amenities, ample parking, access to public transportation, and flexible leasing options. Our 350,000 square foot center houses shared office, single story flex and corporate office space. We would like to invite you to contact our sales representative to see for yourself why the Bradley Business Center is the ideal place for you to work like you live.

Turn Forgotten Goals into New Year Opportunities

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The new year is here and as a small business owner you already know the value of reflecting back at your successes from the last year. However, make sure you are also considering the goals that you may have not gotten around to starting. Find that list of resolutions from last year, dust it off and see what was not completed. The best laid plans and ideas could have been derailed by unknown factors and the normal course of business. As you look to set your goals for the coming year, find the opportunities on this list that you didn’t complete. Analyze, delegate and create action plans to make the most of these newly energized goals.

While you are celebrating what was hopefully a year full of achievement, it may be easy to lose focus on analyzing what didn’t get accomplished. After all, it is more fun to thank employees and partners, than to push them for the hows and whys of a particular project. Analyzing your goals before you place them back on this year’s new list should consist of starting a SWOT analysis. A SWOT (strengths, weaknesses, opportunities and threats) analysis needs to have a purpose, so work through a SWOT for each goal. For example, if your goal was finding a new north side office space you may note items like “allow for expansion”, “better location for networking and meeting clients”, “cost of moving”, etc. as part of your analysis for this goal. Your new list of goals will include items that make sense for your business plan and will help support your vision, as well as offer immediate solutions.

As you work through your list of goals, it will be natural to feel a bit overwhelmed. Identifying how to energize opportunities is a big job so don’t be afraid to involve staff members in on this planning process. They often will have different perspectives and ideas as to why a goal should be handled in certain way. Going back to the goal of finding a new office location, once you speak with your staff and outline your concerns, you may find that they are better equipped to find the best areas to consider and the buildings that offer the best amenities. Delegating is not just for companies with multiple employees, however. Entrepreneurs should work to build a network of contacts they can rely on to help with goals like the example of finding a new north side office space. Ask for referrals to find special locations like shared office space or single story flex space. Just asking for opinions from people you do business with will help take some research off of your plate. And you’ll have the benefit of knowing that your business contacts will like coming to visit your new offices, too. Delegating is a crucial element to the success of your new list of goals and works for any size company.

Now it is time to take action. While analyzing and delegating do not lose sight of the fact that each of these goals will need realistic action plans created. Take the analysis and facts you have gathered and apply them as you write your plans. Tackling a goal like relocating to a new north side office space will require careful planning. According to Entrepreneur, there are five main reasons that companies consider moving. They include work force availability, the desire to reach new markets, growth and expansion, lower costs and increase quality of life. You will need to have an exact course of action after considering these reasons to have the most success meeting this goal. Reasons like these will directly affect your bottom line and help to highlight the importance of considering all factors when working towards reaching any goal.

The new year is a perfect time to take your forgotten goals and turn them into opportunities for 2015. With some analyzing, delegating and planning you can succeed at tasks like finding new north side office space and moving to a location better suited for your company. The Bradley Business Center will help fulfil your reasons for needing new north side office space, such as expansion, personnel resources and a more convenient location. Contact us to learn more and allow us to help you cross one more important goal off of your list. Happy New Year and best wishes for a successful and profitable 2015!

Small Business Solutions

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Entrepreneurs are a special type of professional. They are inventive, creative, passionate and driven to succeed. However, when the idea for a small business strikes, it can be easy to get pulled in many different directions. There are a few small business solutions that must be considered for success. It is crucial for an entrepreneur to outline a plan, stay flexible, network with new contacts and present themselves to clients as an established business.

Turn Vision into a Business Plan

There are many factors to consider once a new idea of a business comes to mind. In order to keep these factors organized and prepare for all scenarios, an entrepreneur must create a business plan. In this plan it is important to include what the target market for the business will be, how that market will be reached, what the obstacles are for success and how those obstacles will be overcome.  A good business plan does not need to be a long document. If your idea is focused, a one-page plan will be sufficient to get the business off the ground.

Stay Flexible

Once the plan is established the entrepreneur must be prepared for that plan to change…many times. As research is done and the plan is put into action, an entrepreneur may find that they need to change their idea to capture more of the marketplace. An example of this may be choosing to operate from a home office to save on costs, only to find out that clients want to meet in person to get deals signed. The entrepreneur must then go back to their plan to consider costs for a true office space. Having to adjust the plan is not a sign of failure, but rather is often a sign that the business may be heading in another, more focused direction. Look for solutions that will offer you the greatest amount of flexibility to grow your small business.

Collaborate with Other Businesses

As a new business, establishing a network of referrals and partners will be very important. There are many entrepreneurs operating on their own these days and this means many opportunities to collaborate with someone who needs your services. In turn, these people can refer their clients directly to your business for solutions they can’t provide. Choosing an office or location where one can tap into a pool of other professionals who want to work with your business is one way to quickly build a network. Utilizing shared office space can offer you a chance to meet new contacts who are also looking to collaborate. Working from home will not provide these same chances to connect.

Location, Location, Location

Working for oneself is very exciting and offers a great amount of flexibility. You can choose the hours you work and where you work. Working from a home office can help reduce new business costs, but will not offer a good space to meet with clients. Working from home can also be a distraction and may pull focus away from daily goals. Shared office space offers the perfect solution for an entrepreneur. The amount to lease these spaces is often far less than traditional office space. The amenities can include conference rooms, support services, bundled communication options and much more, helping to improve the bottom line and offering a space to meet clients in a professional setting.

Starting your own small business is an exciting but time consuming practice. We can offer you solutions that will cross some of the most important considerations off of your to-do list. If you are an entrepreneur who is searching for the perfect office space, please consider the Bradley Business Center. We offer perfectly appointed shared offices that will provide opportunities to network, keep your operating costs low and give you an impressive space to meet with your clients. At Bradley, we are dedicated to offering the best services and amenities, in a perfectly situated location on Chicago’s North Side. Contact our sales representative today to learn more and schedule a time to visit us. We look forward to offering you small business solutions that work for you and contribute to your success at the Bradley Business Center.

IREJ Conference

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Recently the Bradley Business Center hosted the Illinois Real Estate Journal‘s (IREJ) “Re-Positioning/Value Added Commercial Real Estate Conference”. This exciting conference focused on business development as it relates to adding value to properties. Attendees participated in two panel discussions, were able to tour the Bradley Business Center facilities, and also network with other business owners, industry professionals and panel guests.

Making the Transformation Panel

Making the Transformation Panel during the Re-Positioning/Value Added Commercial Real Estate Conference

The first panel of the day, “Making the Transformation”, was moderated by John McLinden (Centrum Partners) and included Ellen Stoner (Office Works), Bill Jensen (BKV Group), Milan Rubenstein (Windy City Real Estate) and John Hansen (Hansen Realty). Panelists discussed repurposing spaces and best practices for transforming real estate.

David Ruttenberg (Marc Realty) moderated the second panel, “Brokering and Financing the Opportunity”. The discussion focused on fundamentals of buying and selling and various market segments and included Jack H. Rosenberg (Colliers International), Randy Waites (Cushman & Wakefield), Paul Fishbein (Merit Partners) and Rick Hansen (Hansen Realty).

Brokering and Financing the Deal Panel

Brokering and Financing the Deal Panel during the Conference

Please take a moment to click through the gallery below to see more photos from the day.

We were honored to host this event and would like to thank everyone who attended. Please check back often for more information on upcoming events and other news from the Bradley Business Center.

  IREJ Conference Guests    IREJ ConferenceIREJ Panel - Making the TransformationIREJ Conference Attendees NetworkingRick Hansen of Hansen Realty giving a tour of the Bradley Business CenterIREJ Conference Exhibitors

 

Bradley Business Center Partnership featured on REjournals.com

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REjournals.com, the Midwest’s leading source for commercial real estate news, recently featured the partnership of Chicago-based Hansen Realty and Centrum Partners, as they took ownership of the Bradley Business Center. “This partnership is committed to repositioning this unique space as a premier office and recreational destination on the city’s North Side,” said John Hansen, principal of Hansen Realty.

Learn more about the features of the Bradley Business Center, the recent additions to the list of tenants leasing space and how this dynamic office park can offer your business space like no other on the North Side of Chicago, by reading the full article HERE at REjournals.com.

You can contact us for more information on the Bradley Business Center and how your company can join this premiere business complex, offering Shared Office, Single Story Flex, Corporate Office space and more for businesses of all sizes. We look forward to welcoming you to Bradley!