iv
INTRODUCTION Located in the heart of Bronzeville, <strong>East</strong> <strong>39th</strong> <strong>Street</strong> is an approximately 1 mile long commercial corridor that runs from Langley (600 <strong>East</strong>) on the <strong>East</strong> to Interstate 90/94 on the west (200 West). Historically <strong>East</strong> <strong>39th</strong> <strong>Street</strong> served as a neighborhood shopping and restaurant district for the residents of the 3500 unit Ida B. Wells/Madden Park apartment complex. As part of the Chicago Housing Authority’s <strong>Plan</strong> of Transformation the residents of Wells/Madden Park were relocated and the complex was torn down. The last units were demolished in 2004, greatly reducing the population density of the neighborhood. This meant much less money was being spent on the <strong>39th</strong> <strong>Street</strong> corridor and conditions began to deteriorate. One <strong>by</strong> one local businesses, the economic engines of the corridor, began to close. Small businesses such as Sunrise Foods and Grocery, The Blue Sea Drive-In, Cee’s Gyros, Midway Barbershop, Dorothy’s Barbershop and Atlanta Liquors, facing declining revenues ceased operations. Businesses strong enough to relocate to other more lucrative areas did so and a cycle of decline and disinvestment began which lead to the corridor’s current state. <strong>East</strong> <strong>39th</strong> <strong>Street</strong> has some apparent strengths and there are positive changes occurring that bode well for its future. Some pluses on the corridor include an Average Daily Traffic count at Illinois Interstate 90/94 of 232,800 cars per day and 119,700 per day on the east end at Lake Shore Drive. While population is expected to decline slightly <strong>by</strong> 2015, in Douglas (2010 population 27,022) on the north side of <strong>39th</strong>, median income rose from $26,720 in 2000 to $31,526 in 2010. This trend is expected to continue through 2015. Grand Boulevard (population 26,651) to the south has a median income of $25,249, up from $19,723 in 2000. These numbers are in inflation adjusted 2009 dollars. Fifteen percent of Douglas residents have a Master’s Degree or higher, 17% a Bachelor’s degree. The numbers from the half and 1 mile trade areas are similar and improve as the 3 mile trade area is approached. Access to funds is another of the corridor’s strengths. <strong>East</strong> <strong>39th</strong> street is within both TIF 61 and Enterprise Zone 2, each of which can supply development and incentive funds that can be used to improve the corridor. <strong>39th</strong> <strong>Street</strong> has political assets, as well. In Pat Dowell of the 3rd Ward and Will Burns of the 4th, the area has two highly competent, dynamic aldermen to help lead future development. The corridor faces many challenges, also. A significant land use problem along <strong>39th</strong> <strong>Street</strong> is the high number of vacant structures and lots. In addition, at the center of the corridor, from King Drive to Langley are small, narrow lots that are zoned for higher quality uses than their size allows. These small lot sizes restrict the types and sizes of businesses willing to locate on <strong>39th</strong> street. The corridor is locked in on both sides <strong>by</strong> dull, uninformative highway exits and blocks of empty lots as you approach from both the east and the west, making what few stores that are present there difficult to find. Someone exiting from the major arteries to both the east and the west must drive two to three blocks before coming upon the <strong>East</strong> Pershing <strong>Commercial</strong> <strong>Corridor</strong>. In addition, Interstate 90/94 forms a barrier that effectively cuts <strong>East</strong> Pershing off from neighborhoods to the west. Outside threats to the corridor include 500,000 square feet of retail development in the near<strong>by</strong> Lake Meadows Shopping Mall and the oversaturation of retail development in the United States. Since 2000, developers have built 1 billion square feet of new retail 1 . Economically, <strong>39th</strong> 1 “R & G Annual Market Summaries from REIN RETAIL REPORT.” Rein & Grossoehme <strong>Commercial</strong> Real Estate)- Brokers- Shopping Centers, Office & Industrial Buildings, Mini Warehouse/Self Storage and Land Investments (for Sale); Retail, Office, Industrial <strong>Commercial</strong> Space Leasing; Tenant Representation. Web. 16 Nov. 2011. . 1
Change language