East 39th Street Commercial Corridor Plan by Chris Devins

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SUPPLY & DEMAND ANALYSIS FOR HALF MILE TRADE AREA Leakage is the difference between buying power and retail sales. It indicates how much residents of an area spend that is not captured by actual sales by local stores. For example, if zip code “X” has $70 million in expenditures by local residents on retail goods, and $30 million in sales of retail goods by local stores, the leakage for “X” is $40 million. This tends to produce a conservative estimate of leakage because stores sell to people outside the neighborhood as well. Most neighborhoods have positive leakage because certain types of goods and services are not normally purchased in the neighborhood. For example, you would not find major appliance stores or large law firms in most neighborhood areas. The above chart shows that key industry group categories in the immediate trade area show significant leakage. There is 100% leakage in the Electronics and Appliance Stores category, also in Furniture Stores, meaning that all shopping in these categories is done outside the trade area. There is a 100% leakage factor in Specialty Food Stores, which indicates the same. A leakage factor of 57, such as that in Grocery Stores, indicates that 57% of grocery shopping occurs outside the half-mile trade area. The only negative leakage figure (above in red), in the half-mile trade area is the -$1,366,326 in NAICS category 4453: Beer, Wine and Liquor Stores. This negative leakage means that customers are coming in from outside the trade area to make purchases in the Beer, Wine and Liquor Stores Category from the areas two liquor stores, which will be named later in the Exisitng Land Use section. The numbers are similar at the 1 mile trade area also. 12
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. 13
Page 1: East 39th Street Commercial Corrido
Page 4 and 5: ii
Page 6 and 7: iv
Page 8 and 9: INTRODUCTION Street faces serious c
Page 10 and 11: PROJECT DESCRIPTION This plan’s p
Page 12 and 13: EXISTING CONDITIONS tio, resulting
Page 14 and 15: PRIMARY MARKET AREA The primary mar
Page 16 and 17: SPENDING POTENTIAL IN PRIMARY AND S
Page 20 and 21: RESTAURANT POTENTIAL Table 4 Restau
Page 22 and 23: DEVELOPMENT ACTIVITY Oakwood Shores
Page 24 and 25: EXISTING LAND USE ON EAST 39TH STRE
Page 26 and 27: EXISTING LAND USE ON EAST 39TH STRE
Page 28 and 29: ACCESS As stated above, the East Pe
Page 30 and 31: CHICAGO WHITE SOX FACTS In 2009 the
Page 32 and 33: SAFETY In the many surveys that hav
Page 34 and 35: SWOT ANALYSIS 11,200 cars per day a
Page 36 and 37: RECOMMENDATIONS Development of a co
Page 38 and 39: RECOMMENDATIONS supplies stores; al
Page 40 and 41: BILLBOARD IDENTITY CAMPAIGN Figure
Page 42 and 43: IMPLEMENTATION Enterprise Zone 2 Th

East 39th Street Commercial Corridor Plan by Chris Devins

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