East 39th Street Commercial Corridor Plan by Chris Devins

chrisdevins

Street Commercial Corridor Plan is a comprehensive commercial real estate development plan that envisions the future of the East 39th Street Commercial
Corridor and the surrounding 2 mile trade area in Chicago, based on current demographic, real estate market, zoning, land use, political and commercial business data. For more visit Chris Devins Creative on the web. https;//chrisdevinscreative.com

RESTAURANT POTENTIAL

In a 2010 MetroEdge Retail Scan of Bronzeville’s 43rd, 47th and 51st study areas,

survey respondents, when asked “What are the stores, restaurants, offices, or other

businesses (in Area 1,2 or 3) that you visit most often?” the most visited places by

far were food related. In area 2 (43rd street), for example, 26 of 52 (50%) respondents

said when visiting a corridor, they most often visited a restaurant or food market.

Services were the next most heavily visited at 11 of 52 (21%). Retail accounted

for only 9 respondents (17%). In Area 1(43rd street) 37 of 53 (70%) visits were food

related. 39th street has three restaurants: Pearl’s, Sneak Peek, and the Chicago Rib

House. This use also works well with the shallow lot sizes.

This Market Potential Index (MPI) measures relative market demand for restaurants

in the half mile trade area compared to the U.S. average. Numbers over 100 indicate

demand for restaurants greater than the national average. Notice that Old Country

Buffet has an MPI of 247 which means that the demand for this restaurant is almost

two and one-half times the national average. The data shows strong demand for a

family steakhouse, as well.

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