Commercial
Applied Real Estate Analysis, Inc.
914 S. Wabash
Chicago, Illinois 60605

phone 312.461.9332

fax 312.461.0015

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RETAIL ANALYSES:

Hyde Park Commercial Plan – Chicago, Illinois

AREA headed a team that brought architects and transportation planners, as well as market analysts, to the task of evaluating commercial and mixed-use development potential in key commercial areas within Chicago's Hyde Park community.

Extensive surveying of trade-area residents and shoppers helped us assess current shopping patterns and identify opportunities for additional retail facilities—from restaurants and entertainment to high-quality retailing.

The final strategy strengthens the competitive position of each commercial concentration and considers both opportunities—such as unmet retail market demand—and constraints such as limited parking and vacant and/or undeveloped land.

Woodlawn Retail Analysis – Chicago, Illinois

AREA assessed the retail potential of locating a large chain grocery store at 63rd Street and Cottage Grove Avenue in the Woodlawn Community Area.

In preparing this analysis, AREA analyzed demographic trends in the area, inventoried major competitive grocery shopping locations in close proximity to the proposed development site, and assessed the demand potential for locating a new grocery at the site.

We also analyzed the potential for locating other convenience and comparison related retail uses in the area.

Dining Demand Analysis – Chicago, Illinois

The City of Chicago's Department of Planning and Development (DPD) retained AREA to assess the market potential of attracting a national casual-dining restaurant chain to the city's South Side. DPD specified that we focus our analysis on Stony Island Avenue between 80th and 95th streets.

As a secondary component to this assignment, AREA was asked to assess the market conditions for attracting various other retail uses along Stony Island and also along the 87th Street retail corridor, from approximately Cregier to Woodlawn Avenue.

North Omaha New Retail Development Potential – Omaha, Nebraska

As part of the City of Omaha's effort to revitalize the North Omaha area, AREA assisted the City in assessing the market and financial feasibility of a proposed community-owned commercial development in North Omaha at 30th Street and Ames Avenue.

AREA reviewed trends and conditions in the market area surrounding the proposed development site and suggested development opportunities and strategies.

We also conducted a shopper survey of North Omaha area residents to determine shopping habits and preferences. Additionally, AREA prepared a financial analysis of the proposed commercial development's feasibility.

Other selected analyses:

  • Retail development potential for properties along the west side of Chicago's State Street between Madison and Monroe streets.
  • Potential market demand for additional retail space, with some consideration for a civic center, in downtown Burlington, Iowa.
  • Retail and other commercial development opportunities for owners of property along Chicago's "Clybourn Avenue Corridor."
  • Retail and other commercial development opportunities along Linn Street and in the area around Laurel Homes HOPE VI redevelopment project in Cincinnati, Ohio.
  • Market support for Gurnee Mills, a two-million-square-foot, value-oriented shopping center in northern Lake County, Illinois.
  • Revitalization potential for existing retail concentrations in diverse community areas throughout Chicago.
  • Assessment of the likely impacts that the following planned retail facilities will have on existing retail concentrations in Chicago:
       • A 250,000-square-foot shopping center developed by Centrum Properties, Inc., at Fullerton Avenue in the "Clybourn Avenue Corridor."
       • A 180,000-square-foot shopping center developed by Ventura Realty and Enviro-Technics near 87th Street and Kedzie Avenue.
       • A 125,000-square-foot shopping center constructed by Harlem Irving Realty, Inc., at Irving Park Road and Narragansett Street on Chicago's northwest side.
       • A 280,000-square-foot shopping center proposed by First National Realty and Development for a site near 42nd Street and Ashland Avenue.
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