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A Newmark report finds that Chicago is emerging as a national leader in quantum computing innovation, supported by a growing concentration of research assets and large-scale public investment. The study highlights the region’s recent designation as a U.S. Regional Innovation and Technology Hub, a status granted in 2023 that is helping channel significant federal and state resources into the market.
According to the report, the region has secured nearly $1 billion in combined federal and state support aimed at advancing quantum technologies and related infrastructure. A key component of this funding is $500 million allocated to launch the Illinois Quantum & Microelectronics Park, or IQMP, in South Chicago. The planned 128-acre technology campus will rise on the former U.S. Steel South Works site and is expected to deliver in 2027, positioning the area as a focal point for next-generation research and commercialization activity.
Illinois is currently the only state hosting two U.S. Department of Energy National Quantum Centers, Q-NEXT and SQMS, further reinforcing its competitive position. The state also operates a 124-mile quantum network testbed that links Argonne National Laboratory, Fermilab, and the University of Chicago. This network is designed to support experimental work in quantum communication and computing, anchoring a broader ecosystem that spans academic, laboratory, and private-sector users.
The IQMP campus is planned with advanced cryogenic and laboratory infrastructure that is expected to support a wide spectrum of companies, from early-stage startups and scale-ups to large enterprises. Newmark’s report indicates that this concentration of specialized facilities will help speed the commercialization of quantum technologies, creating a platform for companies to test, refine, and bring new products to market within a single, interconnected environment.
As research and corporate activity intensifies around the University of Chicago and the future IQMP campus, the report anticipates increasing requirements for office, lab, and R&D space. This emerging demand is expected to draw international investment and broaden Chicago’s innovation footprint, reinforcing the city’s role within the national quantum computing landscape and shaping future real estate needs for high-spec technical facilities.
Separately, Connect Industrial Midwest is scheduled for Tuesday afternoon, March 10, 2026, at Joe’s Live in Rosemont, IL. The event will feature Carter Andrus, chief operating officer of Prologis, as the keynote interview, offering additional perspective on industrial trends that intersect with technology, logistics, and emerging innovation hubs.
The post Chicago Emerges as Quantum Computing Leader With Illinois Quantum & Microelectronics Park appeared first on CRE Market Beat.
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