Latest Blog Post

Gamble over Grocers in Bronzeville
May 31st, 2013 7:42 AM

Of all the neighborhoods on Chicago’s south side, Bronzeville has continued to be in a state of change.  The once home of  many public housing structures, went through a phase of new development a decade ago so now the newest change is adding more shopping centers in the neighborhood and which popular retailers will get there first.

Mariano’s and Wal-mart are two major retailers that are reported to be in conversations with the Chicago Housing Authority. 

“The city is in discussions with both of these retailers, and other retailers, as part of a broader effort to attract new retail to Bronzeville,” said a spokesman for the city's Department of Housing and Economic Development.  No further comments were made at that time.

Milwaukee based, Mariano’s is reported to have their heart set on a parcel at 39th Street and Martin Luther King Drive. 

Wal-mart appears to be interested in a corner at 39th Street and State Street.  Word on the street is they plan to put one of their 182,000 square foot supercenters there. 

One large determining factor for both of these corporations is the recent drop in population density for Bronzeville.  Since 2010 the population density has dropped 13%, over 4,500 people.  Benjamin De Los Monteros of Cherry Picker Investments believes that this is most likely due to the halt in residential development since 2008.  

Nonetheless, a successful implant of these 2 conglomerates could open doors for other large corporations like Target, to break ground on other parts of the city where public housing used to dwell, mainly Cabrini-Green.

Todd Cabanban, of Cabanban Rubin & Mayberry LLC, a Chicago brokerage said, “It's kind of what most retailers have been doing over the last few years — finding sites in the urban fabric, with the density that the city provides.”

He added that ‘the neighborhood's population density still beats “green grass” sites on the suburban fringe.

Posted in:General
Posted by Michael Hobbs on May 31st, 2013 7:42 AMPost a Comment

Subscribe to this blog



My Favorite Blogs:

Sites That Link to This Blog: