CHICAGO - Luxury and value are the two classes of retail inChicago that will provide the best building opportunities in 2013even as the middle gets squeezed, according to a new report byEnglewood Construction. Englewood, a commercial builder based inLemont, IL, also sees an uptick in restaurant development nextyear.

Both ends of the retail spectrum will be looking different nextyear as demographics and tastes change. In the past, high-endbuyers shopped in a completely different area than bargain hunters.The report predicts that these two types of shoppers will bestrolling down the same street in 2013.

"No longer will new or renovated shopping centers only cater toone set of buyers or income bracket, but rather, most locationswill offer a wider variety of retailers," says Englewood'sPresident William Di Santo in a press release, pointing to how thecity's "Magnificent Mile" is evolving.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.