Retail Attraction & Market Research
On an ongoing basis, ACC compiles current and meaningful market data to help business and commercial property owners maximize their viability by responding to market trends. Available data includes current demographics and population characteristics, spending demographics, top retail attraction targets, consumer preferences, and peer community analysis. Please view and download a copy of our Andersonville Retail Market Brochure 2014.
If you are looking to open a new business or new location in Andersonville, contact Nick Wolff at 773-728-2995 ext. 101 or firstname.lastname@example.org to receive data tailored to your business sector.
Our Andersonville Demographics 2014 data set will provide you information on population characteristics for our surrounding geographic market area including ‘Classic Andersonville’ which is outlined below. Classic Andersonville: Rosehill (north); Argyle (south); Broadway (east); Ravenswood (west)
Andersonville Retail Economic Study
In the summer of 2012, Chicago’s Andersonville neighborhood took part in a national study comparing the economic impact that locally owned, independent business have on local economies as compared to the impact of national chain businesses. The study was conducted in ten communities by the economic consultancy and strategic analysis firm Civic Economics. The authors used data from the local businesses’ actual financial records and from the public records of chain businesses to analyze the proportion of revenue expended in five categories:
- Profits paid out to local owners
- Wages paid to local workers
- Procurement of goods services for internal use
- Procurement of local goods for resale
- Charitable giving within the community
The studies show the significant benefits that locally owned, independent business bring to communities. Broken out by retailers and restaurants, the Andersonville data is pictured in the charts below: The results of this study complement findings that Andersonville residents overwhelming prefer locally owned, independent businesses. In a 2012 survey of over 1,000 Andersonville customers, nearly 95% said that local, independent ownership of businesses was important when deciding whether to shop or dine in Andersonville. 84% of respondents said that maintaining a preponderance of locally owned, independent businesses should be a top priority for the Andersonville business district. The study authors conclude:
Independents bring substantial benefits to their local economies when compared to their chain competitors. The extra dollars in the local economy produce more jobs for residents, extra tax revenues for local governments, more investment in commercial and residential districts, and enhanced support for local nonprofits. In short, locally owned, independent businesses create better places.
The 2012 Study supports conclusions from the 2004 Andersonville Study of Retail Economics. In that study, the economic impacts were determined for ten participating local businesses and then compared to the potential impacts of ten chain stores. Locally-owned businesses generate substantially more economic benefit to the local economy than chain businesses. For every $100 in consumer spending with a local firm, $68 remains in the Chicago economy. For every $100 in consumer spending with a chain firm, only $43 remains in the Chicago economy. For every square foot occupied by a local firm, local economic impact is $179. For every square foot occupied by a chain firm, local economic impact is $105. The study suggests clear policy implications.
- Local merchants generate substantially greater economic impact than chain firms.
- Replacement of local businesses with chains will reduce the overall vigor of the local economy.
- Changes in consumer spending habits can generate substantial local economic impact.
- Great care must be taken to ensure that public policy decisions do not inadvertently disadvantage locally owned businesses. Indeed, it may be in the best interests of communities to institute policies that directly protect them.
You can learn more about the Andersonville Study of Retail Economics, its findings, and methodology at www.andersonvillestudy.com.
The City of Chicago’s website offers valuable zoning information. Many new businesses need to consider the zoning of their potential space if they are seeking a liquor license or special use permit. The City’s Department of Zoning & Land Use houses an online map that is easy to use. Click here to access the zoning map. Once you see the map, you can enter any address by Street number + direction + street name. The map will tell you the zoning for that block and building. The map will indicate the zoning classification for the property. To interpret the zoning classification, click here for the Zoning Code. If you have any questions, please contact the ACC office at 773-728-2995 or contact your local alderman’s office.