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

SWOT ANALYSIS

Strengths and weaknesses are internal to the corridor, opportunities and threats are external forces.

Strengths

• High Average Daily Traffic

Counts: ADT at 90/94 of 232,800

cars per day. 119,700 at Lake

Shore Drive.

• Rising Median Income: Douglas,

(2010 population 27,022) on

the north side of 39th, has a median

income of $31,526, up from

2000’s $26,710. Grand Boulevard

(population 26,651), to the

south, has a median income of

$25,249, up from $19,723 in

2000. All figures are in 2009

dollars and adjusted for inflation.

11% of Grand Boulevard’s residents

make $50,000 or more per

year. 15% of Douglas’ residents

make the same.

• Educational Attainment:

15% of Douglas residents have

a Master’s Degree or higher,

17% a Bachelor’s degree. Residents

have a Master’s Degree or

higher, a Bachelor’s degree.

• Available Project Funding:

East 39th Street is located within

Tax Increment Financing District

and Enterprise Zone 2.

• Competent Leadership: Dynamic

aldermen in 3rd and 4th

wards.

• An Anchor for the East End

of East 39th Street: A new large

Dollar General store on the site

of the old Sunrise Grocery at East

39th and Langley.

• A Rise In Population Density:

3000 units of new housing to

be built at Oakwood Shores

and Phase 1 of The Metropolis

development, including 102 condominiums

and anchored by a

Roundy’s grocery store, which is

slated to be completed by 2013.

• Big Box Store Potential: Large

parcels on the west end suitable

for Big Box retailers.

Weaknesses:

• Few Selling Points: Lack of

identifiable culture within which

to drop the retail (adjacency).

• Difficult to Find: Locked in on

one side by 90/94 and the other

by LSD and lots of residential and

parks.

• Low Proximity to Employment

Centers: Far from IIT job center.

• No Signage at Interstate 90/94

and Lake Shore Drive: Dull, un

informative highway exits don’t

announce East 39th Street’s

presence as a shopping destination.

• 19 Vacant Lots: Decreases

walkability and corridor attractiveness.

Could also be a

strength, as it offers opportunities

for in-fill development that

strengthens the neighborhood.

• Vacant Buildings: 14 vacant

structures. This could also be

a strength, as it allows for infill

development.

• Negative Land Use: Two liquor

stores within 1000 feet of each

other.

• Dilapidated Buildings: Buildings

in need of façade improvements.

• Poor Safety Perception: Polled

residents cite safety as a primary

concern.

• Shallow Lots: Not suitable for

many of today’s retailers.

• Lack of Retail: When lower

population density occurred,

many retailers closed or relocated.

• Moderate Traffic Counts: Only

27