German coworking firm has opened its first U.S. office in Chicago, and will add a Mag Mile flagship as part of an ambitious expansion.
Berlin-based Rent24 recently opened an approximately 15,000-square-foot office in a loft office building at 444 N. Wabash Ave., taking over the space of a local coworking business that previously operated there, Rent24 founder and CEO Robert Bukvic said.
It is the first of many coworking locations planned for Chicago and throughout the United States, Bukvic said.
The firm plans to open a location with up to 100,000 square feet of offices in a 24-story office building at 500 N. Michigan Ave., a space that will include a gym and conference center, Bukvic said. The first few floors are expected to open by late summer, with the remaining construction completed by the end of the year.
The Chicago deals are part of Rent24’s initial push in the U.S., which includes two leases near completion in New York, he said. The company has operations or plans for locations throughout Germany and in cities including London, Tel Aviv and Moscow.
Rent24 also is buying space for a Loop office and plans to have six to eight Chicago locations open by the end of 2019, Bukvic said. Separately, the company is looking at two potential locations in the city for its coliving concept, he said.