What would it mean for your company to lease office space in New York City, Los Angeles or Chicago? Besides the impression you’ll leave your current and potential clients, how can one of these locations directly impact your bottom line? From the exceptional talent pool to the quality of living for both you and your employees, it will be easy to see how valuable a move to a major city will be for your business. Learn the difference in real estate costs as a total average or specifically by building class to understand if the amenities are worth the price tag. Determine for yourself which major city location best aligns with your company needs for your office relocation.

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Building Class Definitions by Costar

Class A: A classification used to describe buildings that generally qualify as extremely desirable investment-grade properties and command the highest rents or sale prices compared to other buildings in the same market. Such buildings are well located and provide efficient tenant layouts as well as high quality, and in some buildings, one-of- a-kind floor plans. They can be an architectural or historical landmark designed by prominent architects. These buildings contain a modern mechanical system, and have above-average maintenance and management as well as the best quality materials and workmanship in their trim and interior fittings.

Class B: A classification used to describe buildings that generally qualify as a more speculative investment, and as such, command lower rents or sale prices compared to Class A properties. Such buildings offer utilitarian space without special attractions, and have ordinary design, if new or fairly new; good to excellent design if an older non-landmark building.These buildings typically have average to good maintenance, management and tenants. They are less appealing to tenants than Class A properties, and may be deficient in a number of respects including floor plans, condition and facilities. 

Class C: A classification used to describe buildings that generally qualify as no-frills, older buildings that offer basic space and command lower rents or sale prices compared to other buildings in the same market. Such buildings typically have below-average maintenance and management, and could have mixed or low tenant prestige, inferior elevators, and/or mechanical/electrical systems. 

We are a little biased towards Chicago due to our own business roots. We’d love for this city to be for all, but we understand that’s not simply the case. For those finding their business needs aligning with Chicago, we’d love to share with you more about the benefits of holding Chicago office space, specifically in the heart of the city, the Loop.