Schaumburg IL Economic Prospects Great! – Chicagoland NW Suburban IL Real Estate

Schaumburg IL is doing very well with it’s local economy.

I know that I have mentioned before how the NW suburbs are doing great compared to much of the nation but this latest article shows how Schuamburg’s fortunes are looking great!

There has been a distinct economic shift right here in Schaumburg. The article, from the Daily Herald Business Ledger focuses on the opening and expansion of the Whole Foods Market in Schaumburg showing that the economy is improving in Schaumburg. When they opened the store back in May 2010 they thought they would do well thanks to Schaumburg being a center for business and all those hungry executives needing a good lunch – but they were not prepared for how well they would do! This ultimately lead to expansion of the initial retailing space.

While this is al great for Whole Foods what it is doing is painting a picture of the local economy in Schaumburg. The latest stats show that there is a trend, Schaumburg’s retail vacancy rate dropped from 10.5% in the first quarter of 2010 to 8.8% this January 2011. Office building vacancies dropped from 23.7% to 19.8% in the same time frame as did industrial building vacancies which fell from 12.3% to 10%.

There was concern that with the closure of a number of retailers locations in Schaumburg that it would be all doom and gloom, but that is not the case. Those closures have been replaced with a host of restaurants and other retailers. The retail powerhouse of the region – the Woodfield Shopping Center has, after some initial fall in figures, been doing well. In short Woodfield’s total store sales have climbed each month since April 2010.

Also, Schaumburg will see 1200 workers moved to Schaumburg with the lease of an office building by Career Education Corp who have made Schaumburg their new HQ. The renewed development activity is certainly a sign that the economy is improving, Schaumburg will always be a regional economic magnet because of its location near major expressways and O’Hare International Airport.

So, if you are looking to live in an area which is on the grow – then Schaumburg, IL is it!

Remember, finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Bartlett IL, Schaumburg IL and the Hoffman Estates using our complimentary MLS Search service. You can also view our fantastic range of featured properties!

Alternatively please contact me today if you need more specific assistance in your real estate needs. You can call the office on: 847-874-6731 or Cell phone on: 847-913-2606 or of course email me at: Joe@JoeStacy.com

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office isnumber one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194