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Old 05-03-2012, 08:12 AM
 
21,478 posts, read 35,471,252 times
Reputation: 10511
Default Yes, but...

Quote:
Originally Posted by Vlajos View Post
Malls are struggling across the country. I wouldn't use that as a sign of impending doom in DuPage.
The vacancy rate at Oakbrook Center is amazingly low (though empty sq feet will temporarily soar when Bloomingdale's closes their three story "Home Store") and even nearby Yorktown is doing quite well. The mix of retailers is telling -- higher end stores that have an emphasis on dressier/designer clothes, stores with a emphasis on luxury goods for the home and pricier restaurants -- these are places that target if not the "1%" than certainly the top quintile or so of the "99%"...

In contrast the average income of the towns in NW DuPage Co is still far above the median of the 99% but clearly a big step away from the highest quintile.

The facts seem to suggest that the economic downturn has been hardest on those further away from the top, which really by itself should come as no surprise -- folks with more assets ought to be better able to weather storms better then those who were already stretched thin even in good times.

The real issue longer term is how are those who are closer to the median going to fare? Will they gravitate toward the hollow platitudes that suggest their only chance of preventing a slide further down is to "stick it to those above them" or will they take the steps to make themselves better equipped for advancement and keep the burden of government small?

Historically pretty much every part of DuPage Co. has sided with the "smaller government" argument yet the changes that are visible may see some shifts toward people wanting more direct government intervention. Ultimately the path of government dependency is what resulted in the attrocius sorts of public housing at Cabrini Green, Robert Taylor Homes and other notorious CHA/ HUD projects. Certainly that level of dependency has not yet overrun any part of DuPage Co and even the expansion of Section 8 housing is unlikely to result in the sort of segregated run down housing that held back generations in Chicago...

 
Old 05-03-2012, 08:40 AM
 
7,763 posts, read 5,441,339 times
Reputation: 3315
Quote:
Originally Posted by chet everett View Post
The vacancy rate at Oakbrook Center is amazingly low (though empty sq feet will temporarily soar when Bloomingdale's closes their three story "Home Store") and even nearby Yorktown is doing quite well. The mix of retailers is telling -- higher end stores that have an emphasis on dressier/designer clothes, stores with a emphasis on luxury goods for the home and pricier restaurants -- these are places that target if not the "1%" than certainly the top quintile or so of the "99%"...

In contrast the average income of the towns in NW DuPage Co is still far above the median of the 99% but clearly a big step away from the highest quintile.

The facts seem to suggest that the economic downturn has been hardest on those further away from the top, which really by itself should come as no surprise -- folks with more assets ought to be better able to weather storms better then those who were already stretched thin even in good times.

The real issue longer term is how are those who are closer to the median going to fare? Will they gravitate toward the hollow platitudes that suggest their only chance of preventing a slide further down is to "stick it to those above them" or will they take the steps to make themselves better equipped for advancement and keep the burden of government small?

Historically pretty much every part of DuPage Co. has sided with the "smaller government" argument yet the changes that are visible may see some shifts toward people wanting more direct government intervention. Ultimately the path of government dependency is what resulted in the attrocius sorts of public housing at Cabrini Green, Robert Taylor Homes and other notorious CHA/ HUD projects. Certainly that level of dependency has not yet overrun any part of DuPage Co and even the expansion of Section 8 housing is unlikely to result in the sort of segregated run down housing that held back generations in Chicago...
Thanks for sharing. I was referring to Large Malls struggling.

U.S. mall Q3 vacancy rate at 11-year high -report | Reuters
 
Old 05-03-2012, 08:58 AM
 
5,239 posts, read 4,364,948 times
Reputation: 4596
Quote:
Originally Posted by chet everett View Post
The vacancy rate at Oakbrook Center is amazingly low (though empty sq feet will temporarily soar when Bloomingdale's closes their three story "Home Store") and even nearby Yorktown is doing quite well. The mix of retailers is telling -- higher end stores that have an emphasis on dressier/designer clothes, stores with a emphasis on luxury goods for the home and pricier restaurants -- these are places that target if not the "1%" than certainly the top quintile or so of the "99%"...

In contrast the average income of the towns in NW DuPage Co is still far above the median of the 99% but clearly a big step away from the highest quintile.

The facts seem to suggest that the economic downturn has been hardest on those further away from the top, which really by itself should come as no surprise -- folks with more assets ought to be better able to weather storms better then those who were already stretched thin even in good times.

The real issue longer term is how are those who are closer to the median going to fare? Will they gravitate toward the hollow platitudes that suggest their only chance of preventing a slide further down is to "stick it to those above them" or will they take the steps to make themselves better equipped for advancement and keep the burden of government small?

Historically pretty much every part of DuPage Co. has sided with the "smaller government" argument yet the changes that are visible may see some shifts toward people wanting more direct government intervention. Ultimately the path of government dependency is what resulted in the attrocius sorts of public housing at Cabrini Green, Robert Taylor Homes and other notorious CHA/ HUD projects. Certainly that level of dependency has not yet overrun any part of DuPage Co and even the expansion of Section 8 housing is unlikely to result in the sort of segregated run down housing that held back generations in Chicago...
"Hollow platitudes"---you mean like the "trickle-down" theory?
 
Old 05-03-2012, 10:44 AM
 
21,478 posts, read 35,471,252 times
Reputation: 10511
Gross leasable area Oakbrook Center is over 2Million sq ft and Yorktown is not far behind:

</title><meta name="description" content="" ></meta><meta name="keywords" content="" ></meta><meta http-equiv="Content-Type" content="text/html; charset=UTF-8" /><title> Untitled Document

KKR to Invest in Yorktown Center - Yahoo! Finance (http://finance.yahoo.com/news/kkr-invest-yorktown-center-130000740.html - broken link)
 
Old 05-03-2012, 11:02 AM
 
7,763 posts, read 5,441,339 times
Reputation: 3315
Quote:
Originally Posted by chet everett View Post
Gross leasable area Oakbrook Center is over 2Million sq ft and Yorktown is not far behind:

</title><meta name="description" content="" ></meta><meta name="keywords" content="" ></meta><meta http-equiv="Content-Type" content="text/html; charset=UTF-8" /><title> Untitled Document

KKR to Invest in Yorktown Center - Yahoo! Finance (http://finance.yahoo.com/news/kkr-invest-yorktown-center-130000740.html - broken link)
Ok, what does that have to do with struggling Stratford Square?
 
Old 05-03-2012, 02:06 PM
 
21,478 posts, read 35,471,252 times
Reputation: 10511
Default Thought you might need clarification on what constitutes "large malls"...

Although Stratford Square is smaller than Yorktown (or Oakbrook Center) it is still a "Large Mall" --

Stratford Square Mall - Bloomingdale, IL Mall and Shopping Center

Happy to help.

Quote:
Originally Posted by Vlajos View Post
Thanks for sharing. I was referring to Large Malls struggling.

U.S. mall Q3 vacancy rate at 11-year high -report | Reuters
 
Old 05-03-2012, 02:13 PM
 
7,763 posts, read 5,441,339 times
Reputation: 3315
Quote:
Originally Posted by chet everett View Post
Although Stratford Square is smaller than Yorktown (or Oakbrook Center) it is still a "Large Mall" --

Stratford Square Mall - Bloomingdale, IL Mall and Shopping Center

Happy to help.
Huh? You brought up Yorktown and Oakbrook. I didn't

Someone implied that DuPage County is dying because Stratford Square is struggling. I said I wouldn't worry about DuPage because of a struggling mall and posted an article that discusses the malls struggling around the country, my intent was to say it's a national phenom.
 
Old 05-07-2012, 10:36 PM
 
Location: Not where you ever lived
10,785 posts, read 14,559,925 times
Reputation: 5344
I think it is interesting that strip malls with less stores, and even the collection of individual "shoppes", seem to be fairing better than the monster malls.
 
Old 05-08-2012, 06:27 AM
 
Location: Uptown
1,521 posts, read 1,181,648 times
Reputation: 1236
Quote:
Originally Posted by linicx View Post
I think it is interesting that strip malls with less stores, and even the collection of individual "shoppes", seem to be fairing better than the monster malls.

I have to imagine their rents/costs are cheaper for one.
 
Old 05-08-2012, 12:47 PM
 
1,881 posts, read 2,133,555 times
Reputation: 841
Yes many malls are struggling. When I was growing up there were only a few....Oak brook, Old Orchard, and harlem irving plaza. Most of the north side and major parts of the suburbs went to those when shopping. Now there are so many malls. And do we really need as many as we have now given that so many folks shop on line. The need for as many malls as we have now is over and I would not be surprised if some shut down. That does not mean dupage is dying as it happening all over. There are new stores moving in. We are getting a charming charlies and also a new movie theatre. so things change.
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