Why Chatham Center Chicago?
Greater Chatham Initiative (GCI) was inspired by the Downtown Hyde Park’s successful community branding campaign. Hyde Park retailers experiencing an average 300% growth in sales. Many new businesses relocated to the neighborhood in the last three-years.
GCI, in December 2017, decided to brand the Chatham Center Chicago area. Our hope is that Chatham Center Chicago businesses experience an uptick in sales and that we can attract more and varied retailers to the area that are attractive to existing and new Millennial residents.
What is Chatham Center Chicago?
In December 2017, Greater Chatham Initiative rolled Chatham Center Chicago—which branded the Greater Chatham Shopping Area. The district is bounded by 71st Street to the north, 87th Street to the south, Holland Avenue to the west and Greenwood Ave to the east.
Check out our branding. Activities include,
- exhibited banners along two of the commercial avenues—Cottage Grove Avenue between 78th -80th Streets and Holland Avenue between 83rd -85th Streets
- produced and distributed an area map which highlight 160 establishments
- created an E-Directory that has 320 businesses
Why is Chatham Center Chicago important?
After downtown, Chatham Center Chicago is the second go-to-place for South-siders. They spend $274 million in the district.
Greater Chatham’s leaders have worked hard over many decades to attract many big-box stores. After Chicago’s downtown, Greater Chatham is the second destination for African-Americans consumers who live on the South Side. Approximately $274 million is spent annually in retail establishments in Greater Chatham. Most of the expenditures, 70% or $191.8 million are spent at the large big box stores such as Target, Lowes, Home Depot, Walmart, etc. The remaining balance, 30% or $82 million is spent at small local businesses that front the Holland Avenue, State Street, King Drive, Cottage Grove Avenue and 71st Street, 75th Street, 79th Street and 83rd Street and 87th Streets.
Why buying from locally owned businesses have outsized community impact?
It is well established that sales income from locally owned businesses turn over at least three times in their area (Sales income from big box stores only turn over once in the local economy.). Given that $82 million is spent at small local businesses, this is equivalent to having $246 million (3x’s $82 million) move through the community. As small locally owned businesses grow, so does local wealth. More residents can be hired and monies can be reinvested back into the community.