East 39th Street Commercial Corridor Plan by Chris Devins
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
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
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SWOT ANALYSIS<br />
Strengths and weaknesses are internal to the corridor, opportunities and threats are external forces.<br />
Strengths<br />
• High Average Daily Traffic<br />
Counts: ADT at 90/94 of 232,800<br />
cars per day. 119,700 at Lake<br />
Shore Drive.<br />
• Rising Median Income: Douglas,<br />
(2010 population 27,022) on<br />
the north side of <strong>39th</strong>, has a median<br />
income of $31,526, up from<br />
2000’s $26,710. Grand Boulevard<br />
(population 26,651), to the<br />
south, has a median income of<br />
$25,249, up from $19,723 in<br />
2000. All figures are in 2009<br />
dollars and adjusted for inflation.<br />
11% of Grand Boulevard’s residents<br />
make $50,000 or more per<br />
year. 15% of Douglas’ residents<br />
make the same.<br />
• Educational Attainment:<br />
15% of Douglas residents have<br />
a Master’s Degree or higher,<br />
17% a Bachelor’s degree. Residents<br />
have a Master’s Degree or<br />
higher, a Bachelor’s degree.<br />
• Available Project Funding:<br />
<strong>East</strong> <strong>39th</strong> <strong>Street</strong> is located within<br />
Tax Increment Financing District<br />
and Enterprise Zone 2.<br />
• Competent Leadership: Dynamic<br />
aldermen in 3rd and 4th<br />
wards.<br />
• An Anchor for the <strong>East</strong> End<br />
of <strong>East</strong> <strong>39th</strong> <strong>Street</strong>: A new large<br />
Dollar General store on the site<br />
of the old Sunrise Grocery at <strong>East</strong><br />
<strong>39th</strong> and Langley.<br />
• A Rise In Population Density:<br />
3000 units of new housing to<br />
be built at Oakwood Shores<br />
and Phase 1 of The Metropolis<br />
development, including 102 condominiums<br />
and anchored <strong>by</strong> a<br />
Roundy’s grocery store, which is<br />
slated to be completed <strong>by</strong> 2013.<br />
• Big Box Store Potential: Large<br />
parcels on the west end suitable<br />
for Big Box retailers.<br />
Weaknesses:<br />
• Few Selling Points: Lack of<br />
identifiable culture within which<br />
to drop the retail (adjacency).<br />
• Difficult to Find: Locked in on<br />
one side <strong>by</strong> 90/94 and the other<br />
<strong>by</strong> LSD and lots of residential and<br />
parks.<br />
• Low Proximity to Employment<br />
Centers: Far from IIT job center.<br />
• No Signage at Interstate 90/94<br />
and Lake Shore Drive: Dull, un<br />
informative highway exits don’t<br />
announce <strong>East</strong> <strong>39th</strong> <strong>Street</strong>’s<br />
presence as a shopping destination.<br />
• 19 Vacant Lots: Decreases<br />
walkability and corridor attractiveness.<br />
Could also be a<br />
strength, as it offers opportunities<br />
for in-fill development that<br />
strengthens the neighborhood.<br />
• Vacant Buildings: 14 vacant<br />
structures. This could also be<br />
a strength, as it allows for infill<br />
development.<br />
• Negative Land Use: Two liquor<br />
stores within 1000 feet of each<br />
other.<br />
• Dilapidated Buildings: Buildings<br />
in need of façade improvements.<br />
• Poor Safety Perception: Polled<br />
residents cite safety as a primary<br />
concern.<br />
• Shallow Lots: Not suitable for<br />
many of today’s retailers.<br />
• Lack of Retail: When lower<br />
population density occurred,<br />
many retailers closed or relocated.<br />
• Moderate Traffic Counts: Only<br />
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