Market Analysis and Development Advisory Services: LTA Projects

SB Friedman was engaged by the Chicago Metropolitan Agency for Planning (CMAP) to conduct market analysis and development advisory services in support of CMAP’s Local Technical Assistance (LTA) Projects. Under this engagement, we provide assistance on a task order basis for the following activity types:

  • High-level market analysis of a community or subarea;
  • Market analysis to inform a specific recommendation;
  • Propose implementation steps; and
  • Assist with plan implementation activities.

Representative examples of the projects we have worked on include:

Richton Park. Under this scope of services, we conducted a high-level retail market assessment to inform CMAP’s ongoing work to assist the Village of Richton Park in balancing economic development goals with transportation infrastructure needs and stormwater management, as related to the I-57 Corridor (the “Study Area”).  We also estimated the level of commercial development that the market could support in this area in the foreseeable future, i.e., within a typical planning time horizon of 10 years.  Results: We produced a briefing book to be used as an internally-focused product to improve CMAP’s understanding of commercial development potential in the area.

South Holland. SB Friedman conducted a market analysis to inform CMAP’s ongoing work with the Village of South Holland in the creation of a comprehensive plan. We examined the market potential for hotel, corporate office, and medical office uses to determine possible uses for “Zone A”, based on its location, site characteristics, transportation access, and other features. Results: SB Friedman produced a briefing book that examines the redevelopment potential for the area and provides guidance to CMAP, for use in developing the specific recommendations of the comprehensive plan, including plans for improvements to the transportation system.

Wilmington. SB Friedman conducted a downtown asset and comparative analysis study for Wilmington, Illinois. We analyzed the downtown business mixes and institutional activity generators of four communities that are similar to Wilmington in size, demographics and/or other characteristics. Results: SB Friedman produced a briefing book that describes the existing conditions in Wilmington’s downtown business district and identifies four place-making strategies that would catalyze downtown activity based on the comparative city analysis. SB Friedman provided implementation steps for each strategy.