Channahon Market Assessment
The Village of Channahon, Illinois is located in an area that experienced significant development in the early 2000’s. The pace of commercial development, however, has not kept pace with the number of households now living in the Village and surrounding area, leading Channahon residents to do the majority of their shopping and dining outside of the community. Recognizing the need for additional retail uses, service providers and restaurants, the Village contracted with Houseal Lavigne Associates to prepare an analysis to identify opportunities for expanding the community’s commercial base.
A detailed market assessment was conducted to determine the trends, supply, demand, and potential for retail, restaurant/entertainment, office, residential, and industrial uses. The study examined Channahon’s competitive position within the market, identified the issues the Village is facing and will likely face, and created a foundation to assist with economic development objectives.
Following completion of the study HLA assessed the potential benefits of forming a public/private economic development corporation to better facilitate new development and created an interactive website to promote economic development initiatives.