LAKEVIEW CHAMBER OF COMMERCE
Lakeview is historically a dense community that developed around its CTA stations, and demographic trends since 2000 continue to reinforce the central role of transit in the neighborhood. CTA stations serve as hubs for the community, providing significant foot traffic from visitors and local commuters to fuel the neighborhood’s business corridors. Lakeview has the highest rate of transit commuting of any neighborhood in the city. Transit is critical to the neighborhood’s economic success and quality of life.
Lakeview businesses also depend on the neighborhood’s density of households to support its thriving retail, hospitality, and service economy. While there is significant demand to live and do business near transit, development has not capitalized on the opportunity with increased density near train stations. Of Lakeview’s eight CTA stations, five now have fewer housing units within a half mile, or 10-minute walk, than they had in 2000. Over-restrictive zoning policies and parking requirements have stifled development in the past, however, several development projects currently in the works are leveraging Chicago’s new transit-oriented development (TOD) policy that could enable the neighborhood to add households that will help support local businesses.
The following data compiled by the Center for Neighborhood Technology (CNT) for the Lakeview Chamber of Commerce and SSA 27 demonstrates a need for additional TOD that would increase density and trade off private parking spaces in new development for additional residential and commercial space.
Since 2000, car ownership within Lakeview’s overall transit shed has dropped 6% while driving mode share has fallen 7%. Today, 31% of households don’t have a car.
Among renters, the shift has been even more dramatic – car ownership declined 16% in rental households. Today, 43% of rental households don’t have a car.
Today, 46% of commuters within Lakeview’s overall transit shed take transit to work, a 7% increase in transit mode share since 2000.
The next generation is even more likely to use transit – 57% of commuters under 24 years old take transit to work today
Rentals and Households Declining
From 2000-2011 within Lakeview’s overall transit shed, population has increased, but the number of households has decreased. Fewer rental units are available today compared to 2000.
Household size is increasing attributable to more children and indicating the neighborhood is retaining more families, but the decline in households may negatively impact consumer spending.
About the Lakeview Chamber of Commerce
The Lakeview Chamber of Commerce is organized so that the local business community shall prosper. All necessary means of promotion shall be provided and particular emphasis shall be given to retail, professional, educational and economic interests of the area.