In April 2023, Melaniphy & Associates, Inc. completed a Retail Market Strategy Study and determined market feasibility for new retail development in Carol Stream. Melaniphy & Associates is a consulting firm that has successfully advised public and private sector clients on retail and restaurant markets and development patterns for over 50 years, and previously completed a Retail Market Strategy Study for Carol Stream in 2002. 

The objective of the 2023 Study was to strengthen and expand the Village's retail base by determining the market for additional retail facilities in Carol Stream. The Study provides the Village with a market-driven retail strategy for the Key Retail Areas of the community.

The Board of Trustees accepted the Study on April 17, 2023. Melaniphy & Associates prepared both an Executive Summary for the Study, and an Appendix with information on general market conditions, retail market analysis, and sales forecast data. 

Should you have any questions on the Study, please contact the Community Development Department at 630-871-6230 or complete the Community Development contact form. 

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