Downtown Development Review

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Downtown Development Review Downtown Development Review September 20, 2010 Table of Contents Executive Summary ..................................................................................................................................................................................... 3 Market Share Analysis ................................................................................................................................................................................ 9 Introduction ............................................................................................................................................................................................................... 9 Methodology .............................................................................................................................................................................................................. 9 Logical Markets .......................................................................................................................................................................................................... 9 Downtown Mundelein Business Improvement Implications ................................................................................................................................... 10 Total Available Spending Power .............................................................................................................................................................................. 12 Community-Wide Market Share Analysis ................................................................................................................................................................ 13 Downtown Mundelein Business Improvement Implications ................................................................................................................................... 13 Survey ........................................................................................................................................................................................................ 14 Methodology ............................................................................................................................................................................................................ 14 Question 1: In an average month, how many times do you dine in these commercial areas?............................................................................... 16 Question 2: In an average month, how many times do you make a purchase in these commercial areas? .......................................................... 19 Question 3: When shopping in Downtown Mundelein, how often do you:............................................................................................................ 21 Question 4: How would the addition of these stores and services affect the amount that you spend in Downtown Mundelein? ....................... 23 Question 5: In the last month, what have you purchased that you wish you could have bought in Downtown Mundelein? ............................... 25 Question 6: Please provide the name and location of the store where you made that purchase. ........................................................................ 26 Question 7: In an average week, how much would you estimate that your household spends on meals away from home (full-service restaurants, take-out, drive-through, etc.)? ............................................................................................................................................................ 27 Question 8: How would the addition of these restaurants affect the amount you spend in Downtown Mundelein? .......................................... 28 Question 9: In the past month, what non-Downtown Mundelein restaurants did you patronize that you believe would be good additions to Downtown Mundelein? ........................................................................................................................................................................................... 30 Question 10: Rate your overall satisfaction with these factors as they apply to the Downtown Mundelein: ....................................................... 31 Question 11: When is it most convenient for you to shop? .................................................................................................................................... 35 Question 12: Evaluate your experience at these Downtown Mundelein events: ................................................................................................... 36 Mundelein Peer Communities .................................................................................................................................................................. 41 Strategic Positioning Outline .................................................................................................................................................................... 53 Strengths .................................................................................................................................................................................................................. 53 Weakness ................................................................................................................................................................................................................. 53 Threats ..................................................................................................................................................................................................................... 54 Opportunities ........................................................................................................................................................................................................... 54 1 Value Platform .......................................................................................................................................................................................... 55 Potential Tenants ...................................................................................................................................................................................... 56 Caribou Coffee ......................................................................................................................................................................................................... 57 The Portillo Restaurant Group ................................................................................................................................................................................. 58 Khayyat Entertainment Group ................................................................................................................................................................................. 59 Lindsey’s Interiors & Gifts ........................................................................................................................................................................................ 60 7-Minute Drive Time Comparison ............................................................................................................................................................................ 60 Half Price Books ....................................................................................................................................................................................................... 61 Implementation Goal ................................................................................................................................................................................ 62 Downtown Organizational Development Action Plan ............................................................................................................................................. 63 Downtown Retail Market Development Action Plan ............................................................................................................................................... 65 Appendix 1: Demographics ....................................................................................................................................................................... 68 Appendix 2: Spending by Store Type ........................................................................................................................................................ 72 Appendix 3: Requested Stores .................................................................................................................................................................. 75 Appendix 4: Requested Restaurants ......................................................................................................................................................... 77 Appendix 5: Answers to Question 20 ....................................................................................................................................................... 79 2 Executive Summary In December 2009, the Village of Mundelein retained BDI to provide a Downtown Development Review to guide the Village as it seeks to improve the vitality of its downtown. This project focused on the existing businesses and markets for Downtown Mundelein located at Illinois Routes 45 and 176. Unlike a previous Village study examining future potential for a regionally significant
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