Chicago Metropolitan Agency for Planning prepares a comprehensive plan for Franklin Park, IL
- Market analysis for industrial development in a mature western suburb of Chicago
- Included research on the air cargo industry
- Aim of capitalizing on the Village’s proximity to O’Hare Airport
The Chicago Metropolitan Agency for Planning (CMAP) commissioned us to prepare a market analysis for industrial development on the west side of Franklin Park, a mature western suburb of Chicago, as part of a comprehensive plan under the Local Technical Assistance program. The scope also included additional research on the air cargo industry and the opportunities for the Village to capitalize on its location immediately south of O’Hare Airport.
We conducted comprehensive research that included
- Field inspection of the study area and competitive industrial locations in neighboring communities
- Interviews with study area businesses, CN railroad, O’Hare Airport real estate staff, air cargo companies, freight forwarders, industrial brokers, and developers
- Compilation of and analysis of business and employment trends in Franklin Park and the communities in the sub-market in which it competes
- Compilation of and analysis of industrial market data for Franklin Park, the sub-market, and the Chicago region as a whole
- Compilation of and analysis of data on air cargo trends nationally and in Chicago at O’Hare Airport
- Identification of typical building requirements for different types of cargo facilities
- Analysis of how improvements to O’Hare – including the Elgin-O’Hare Expressway and Western Access as well as new on-airport cargo facilities – will affect the marketability of property in Franklin Park
The resulting study helped guide future industrial and economic development attraction and retention efforts. It provided CMAP with an analysis of the competitive advantages and disadvantages of sites in the study area for general industrial use and for air cargo use. We also provided recommendations for the types of businesses that should be the focus of the Village’s recruitment 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 for Planning, Chicago Metropolitan Agency for Planning