The New Frontier: Southland

Southland…the New Frontier. This is the place for commercial/residential expansion in Chicagoland. It’s mission: to accommodate the population explosion that is expected to double in the next 20 years.

I was reading The Business Ledger’s article (November 12, 2007) on Southland; apparently, the I-355 to I-80 expansion has opened its doors to businesses.

Now the question is:

How does this community retain the high-end commercial developers which will bring about office parks, high end retail and not cause LocationVelocity ?

According to the 2007 September/October issue of The Leader (www.corenetglobal.org), Location Velocity is a concept where today’s location may become detrimental tomorrow due to an abundance of similar businesses.

It is imperative that any business looking to open or expand into this area choose it not only for its ideal geographic location, but also take a look at the Southland labor market indicators.

Currently, The Business Ledger reports (11/12/2007) that this new I-355 to I-80 expansion will increase the population in Lenox by 462%. Depending on the time frame (and it’s not clear in the article) this jump could indicate positive growth or an agitated area that isn’t stable.

Hence, labor market indicators are key.

Small Business Commercial Real Estate

This is the first blog of small business commercial real estate.