CEDARst Companies announced WeWork, a leading global flexible space provider, will open its first location on Chicago’s North Side as part of the adaptive reuse of the historic Bridgeview Bank building, a 176-unit mixed use development.
Located at 4753 N. Broadway Avenue in Chicago’s Uptown neighborhood, WeWork Bridgeview Bank will offer nearly 25,000 square feet of flexible workspace when it opens this fall. The location is WeWork’s first management agreement in Chicago, first location on the city’s North Side, and first location with a residential developer to build and establish a WeWork office as an amenity to the residential space. In addition, the deal opens up the possibility for future WeWork-managed locations across the CEDARst portfolio where there is demand.
This mixed-use Bridgeview Bank development, first constructed in 1925, will thoughtfully preserve and recondition 13 floors of landmarked space into retail and multifamily apartments while modernizing all building systems and amenities. The WeWork office will fill the iconic building’s grand hall on the second floor and mezzanine levels with turnkey workspace solutions including an open floor working concept, 60 custom-fit private offices totaling 176 desks, and up to 99 seats for WeWork All Access and WeWork On Demand use. The space will also feature amenities like phone booths and kitchen spaces, with architectural flourishes, including recommissioned bank teller spaces, fireplaces, and grand ornate windows.
WeWork Bridgeview Bank is WeWork’s 12th location in Chicago and third opening in the market this year, following WeWork 448 N LaSalle in January and WeWork 167 Green in May. This newest location will also offer dedicated space for members using WeWork All Access, the company’s monthly subscription membership that provides access to hundreds of WeWork locations across the globe, and WeWork On Demand, which offers pay-as-you go access to workspaces and meeting rooms.
This opening is a thoughtful response to increased demand from Chicago residents for convenient, flexible, and hybrid work solutions. In fact, from January 2022 through July 2022, WeWork All Access bookings throughout Chicago increased by 147% and during the same time period, WeWork On Demand bookings increased by 356%.
The $58 million project will feature 176 apartments, including studio and one-bedroom apartments, 13,500 square feet of retail space, and 19,000 square feet of traditional office space in addition to the nearly 25,000 square feet of WeWork space.
Residential amenities will include access to a 2,000 square foot fitness center and locker rooms, and a 3,000-square-foot rooftop lounge with an outdoor deck and sweeping lake and skyline view.
The building will be managed by CEDARst’s property management company, FLATS, and is conveniently located just steps from the Lawrence Red Line stop, many major CTA bus lines, and the Aragon Ballroom, one of Chicago’s most iconic music venues. The building’s other longtime commercial tenants will continue operation in the mixed- use space.
Landmarked both locally and nationally, Bridgeview Bank joins the Lawrence House, the Draper, the June, and the Winnie as another dynamic CEDARst development in the Uptown area.