For a 20-person company in the northern suburbs of Chicago, plan on roughly 3,000 to 4,500 square feet, less if your team is hybrid. Pick two or three submarkets based on where your employees live, look at direct leases, subleases, and move-in-ready spec suites, and have a tenant representative negotiate the deal. Start six to nine months before you need to move. A suite that needs new buildout takes time, and the best small suites in the Lake Cook corridor do not stay available long.
Step 1: Size the space for how your team actually works
The old rule of thumb was 150 to 250 square feet per person. For 20 people, that means about 3,000 to 5,000 square feet. A typical layout at that size includes:
- 16 to 20 workstations
- 2 to 4 private offices
- 1 conference room and 1 or 2 small meeting or phone rooms
- A kitchen or break area
- Reception, storage, and a small server or copy room
Hybrid work changes the math, but less than many companies expect. In the leases we have completed recently across the northern suburbs, most teams are in the office three and a half to four days a week. That supports a modest reduction, not a 50 percent cut. If you plan for fewer desks, add more meeting space, because the days everyone is in are the days you need it.
Step 2: Choose the submarket
Commute matters more than prestige for a 20-person company. Map where your employees live first. The main options north of Chicago:
- Northbrook, Deerfield, and Glenview. Close to I-94 and the Edens, with a deep supply of small and mid-size suites along Lake Cook Road and Skokie Boulevard.
- Lincolnshire, Buffalo Grove, and Vernon Hills. Campus-style office parks on Route 22 and Milwaukee Avenue with easy parking and access to I-94. Parks such as the Lincolnshire Corporate Center, Corporate Woods, and Corporate Grove offer suites in this size range.
- Lake Forest and Libertyville. A quieter North Shore setting, good for professional services and firms whose clients come to them.
- Arlington Heights and the northwest suburbs. Worth adding if a large share of the team lives west.
If employees will commute by train, focus on buildings near Metra stations on the Milwaukee District North and Union Pacific North lines, or ones served by a shuttle.
Step 3: Know your options
- Direct lease. The most choice and the most negotiating room. Expect a three- to five-year term, and longer if the landlord is paying for new buildout.
- Sublease. Space another company no longer needs, often already built out and sometimes furnished, usually at a discount and for a shorter term. The northern suburbs have meaningful sublease supply.
- Spec suite. A move-in-ready suite the landlord has already built. Faster occupancy, less customization.
- Coworking or executive suites. Flexible and fast, but usually more expensive per person over a full lease term. Best as a bridge, not a long-term home for 20 people.
Step 4: Compare total cost, not asking rent
Suburban office rents are quoted in different ways. Some buildings quote full-service gross, which includes taxes, operating costs, and often utilities. Others quote net, with those costs added on top. Convert every option to the same basis, then add:
- Electricity and any separately metered utilities
- Parking, if it is not included
- Your share of buildout costs above the landlord’s tenant improvement allowance
- Furniture, cabling, and moving costs
The real number to compare is total occupancy cost per year over the full term, after free rent and improvement allowances. For current asking rents and vacancy in the northern suburbs, check the daily-updated RFP Chicagoland Commercial Real Estate Index.
Step 5: Negotiate the lease
The northern suburban office market favors tenants in many buildings, and a 20-person company is a desirable tenant. Items worth negotiating:
- Free rent at the start of the term
- Tenant improvement allowance for buildout
- Caps on increases in operating expenses
- A right to expand, or to give back space, if the team changes size
- Renewal options at a defined rent
- Signage and parking
A tenant representative handles the search, tours, and negotiation, and is usually paid by the landlord, not the tenant. Ask any broker you interview whether they also represent the landlord on the buildings they are showing you.
Getting started
Write down your headcount today and in three years, your target move date, your budget, and where your team lives. That one page will make every tour more productive. If you would like help, the Van Vlissingen and Co. office leasing team represents tenants across Lake County, Illinois and the northern suburbs and can build a shortlist that fits your team. You can also see office space in Lincolnshire.
Frequently asked questions
How much office space does a 20-person company need?
Roughly 3,000 to 4,500 square feet, based on about 150 to 225 square feet per person. Hybrid teams can plan somewhat less, but should keep enough meeting space for the days everyone is in.
Which northern suburbs are best for small office tenants?
Northbrook, Deerfield, Glenview, Lincolnshire, Buffalo Grove, Vernon Hills, Lake Forest, and Libertyville all have suites in the 2,500 to 5,000 square foot range. The best choice usually depends on where your employees live.
How long is a typical office lease for a small company?
Three to five years is common. Landlords usually want a longer term if they are paying for significant new buildout. Subleases and spec suites can offer shorter terms.
Who pays the broker when a tenant leases office space?
In most suburban Chicago office leases, the landlord pays the commission for both the landlord’s broker and the tenant’s representative.
How far ahead should I start looking for office space?
Six to nine months before you need to move. Allow more time if the space needs new construction.