Industrial market analysis contributes to Chicago Heights, IL Comprehensive Plan
- Industrial market assessment for the city’s east side industrial area
- Incorporated into the Comprehensive Plan funded by CMAP’s Local Technical Assistance program
Requirement
VSKA was retained by the Chicago Metropolitan Agency for Planning (CMAP) and the City of Chicago Heights to prepare an industrial market assessment for the city’s east side industrial area. The south suburban city has a large industrial base but experienced a loss in industrial jobs.
Approach
As part of this project, VSKA:
- Analyzed the industrial mix and major businesses in Chicago Heights
- Conducted interviews with owners and managers of businesses located in the industrial area, economic development professionals, and industrial brokers active in the south suburbs
- Analyzed real estate market conditions in Chicago Heights and the south suburbs
- Analyzed the competitiveness of sites and buildings in Chicago Heights with the rest of the south suburbs and other locations within the metro area
- Analyzed rent and sales prices for industrial properties in Chicago Heights and nearby communities
- Identified the area’s strengths and weaknesses and implications for industrial retention and attraction
Result
CMAP incorporated our market assessment into the Industrial Sub-Area Plan, which was part of the 2015 Comprehensive Plan funded by its Local Technical Assistance program. The recommendations have helped shape industrial attraction and retention efforts.
“While leading the planning department at the Chicago Metropolitan Agency for Planning, I worked with VSKA over a 3-year period on nearly 20 market analysis assignments. These varied tremendously in terms of geography, from Chicago neighborhoods to inner-ring suburbs to ex-urban communities, and in terms of the subjects addressed, from residential to industrial to commercial. I was continually impressed by the ability of Valerie and her team to work on a variety of assignments, the quality and timeliness of their work, their responsiveness to our requests, and the value that she and her team provided. I would recommend VSKA to any local government or community organization seeking to better understand the development market in their area.”
Bob Dean, Former Deputy Executive Director, Chicago Metropolitan Agency for Planning