Luxury apartment and condo developers in the U.S. are increasingly creating remote workspaces in their properties for residents
When Steve DeLuca commutes to work, he takes a quick elevator ride from the apartment he shares with his wife and their two toddler children at Optima Signature in Chicago’s Streeterville neighborhood. Unlike many people, Mr. DeLuca isn’t new to working from home. He’s been doing it for more than a decade.
“I used to rent space at a WeWork, but the opportunity to lease a private office in our apartment building is far more attractive, especially now,” Mr. DeLuca , 43, a founder of a private equity real estate fund, said. “I can be home at a moment’s notice and I can also take an elevator to go back to the office at night when I need to.”
These days, Mr. DeLuca shares his private office with his wife so she can work quietly from 4:30 a.m. to 11:30 a.m. while he takes care of their children. Occasionally, the children join their parents in the 500-square-foot office, which they rent for about $1,200 per month, for a change of scenery from their apartment. The office comes with high-speed internet, office furniture and a small refrigerator.
Co-working spaces are common in upscale apartments, but private offices are anticipated to become a desirable perk in new buildings due to the prevalence of working at home.
Optima, based in Chicago and Scottsdale, Arizona, has been ahead of the curve, including office suites for lease in their residential buildings for 15 years.
“We added a few office suites to an Optima building in Phoenix in 2005 and they were so popular, we’ve included more in our buildings ever since then,” said David Hovey, Sr., CEO of Optima, developers of Optima Signature in Chicago, which has 23 office suites available to lease to residents and nonresidents. “Small business owners like them because everything is turnkey and we include furniture, window treatments and a refrigerator in the suite. In addition, the office tenants have access to the recreational amenities in the building like the swimming pool, fitness center and party room.”
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