Carr Workplaces Opens 2nd Chicago Flex Office

Flex office provider Carr Workplaces has opened The Loop, a coworking space at One William Street Capital Management’s 20 North Clark, in downtown Chicago. This marks Carr’s second location in the city.

The new space features private offices, workstations, four meeting rooms, phone rooms and rentable lockers. Additionally, members have access to the building’s shared amenities, which include a fitness center, conference center and lounge.

In 2025, Carr Workplaces opened a flex office in Arlington, Va., at Comstock Cos.’s Hartford Building, as well as reopened its Manhattan location after extensive renovations.

The company currently operates more than 20 flex offices across the U.S., in the states of New York, California, Illinois, Maryland, Indiana, Virginia and the District of Columbia.

A LEED-certified high-rise

The 36-story property at 20 N. Clark St. has been under One William Street Capital Management’s ownership since 2024. The company purchased the asset from Accesso Partners with the aid of a $44 million acquisition loan, scheduled to mature in December 2027, according to Yardi Matrix information.

Completed in 1981, the 393,107-square-foot office building features 12,000-square-foot floorplates, out of which 5,000 square feet serve as retail space. The LEED Gold-certified high-rise underwent cosmetic renovations in 2014. The tenant roster mainly includes law offices, such as Cotillas Law, Sklare Law Group, Smith Blake Hill, Sudekum Cassidy & Shulruff and Nyhan, Bambrick, Kinzie & Lowry.

The high-rise is one block south of Chicago’s City Hall building and within 3 blocks of several subway stations, on the Blue, Pink, Green, Purple, Orange and Brown lines. Carr Workplaces’ first Chicago location is half a mile northeast, at 200 E. Randolph St.

Chicago and the coworking scene

As of December 2025, average office listing rates in Chicago rose to $28.31 per square foot, up 3.7 percent year-over-year, but lower than the $32.86 national figure, according to a recent Yardi Matrix report. During the same month, the metro’s average vacancy rate clocked in at 18.6 percent, down 20 basis points over a 12-month period, slightly above the 18.4 percent U.S. average.

The same report, as well as recent coworking trends, increasingly view the sector as filling in the necessity-gap created by the rising office vacancy across the U.S. As demand for coworking spaces rises, so does the return-to-office mandate, with 59 percent of companies planning to adopt flexible solutions.