Lake County Suburban Market Areafix arrow

Transcription

1 Lake County Suburban Market Areafix arrow The Lake County Suburban market area consists of the following primary community areas: Antioch Bannockburn Barrington Beach Park Buffalo Grove Deerfield Fox Lake Grayslake Gurnee Hawthorne Woods Highland Park Highwood Ingleside Inverness Kildeer Lake Bluff Lake Forest Lake Villa Lake Zurich Libertyville Lincolnshire Lindenhurst Long Grove Mettawa Mundelein North Chicago Waukegan Park City Riverwoods Round Lake Vernon Hills Volo Wadsworth Wauconda Zion In broad terms, the market area consists of those suburbs that are north of Lake Cook Road, west of Lake Michigan, east of the Fox River, and south of the Wisconsin state border. There are several US routes and interstates within the area, making accessibility throughout the region good. Market Area Map Arrow Shows Subject Location

2 Demographics Trends for population, household growth, average household size and median household income are presented below. The data was obtained from Claritas.

3 Lake County Population Trends Community Est 2018 Proj Antioch 6,395 9,728 14,294 15,009 5% Bannockburn 1,388 1,368 1,489 1,546 4% Barrington 9,741 10,322 10,687 10,735 0% Beach Park 9,540 10,686 13,536 13,978 3% Buffalo Grove 37,883 44,093 41,538 41,374 0% Deerfield 17,341 18,776 18,398 18,166-1% Fox Lake 8,117 10,338 11,149 11,257 1% Grayslake 8,307 19,382 21,529 21,834 1% Gurnee 14,698 29,029 30,904 31,175 1% Haw thorne Woods NA 5,973 7,583 7,786 3% Highland Park 30,761 31,712 29,400 28,864-2% Highw ood 4,854 3,974 5,576 5,784 4% Inverness 6,541 9,113 7,642 7,664 0% Kildeer 2,748 4,577 3,923 4,105 5% Lake Bluff 5,650 6,080 5,349 5,265-2% Lake Forest 17,966 20,424 19,242 18,828-2% Lake Villa 3,273 8,397 9,030 9,077 1% Lake Zurich 15,857 17,584 19,963 20,138 1% Libertyville 20,114 19,110 20,479 20,849 2% Lincolnshire 11,365 6,108 7,221 7,539 4% Lindenhurst 8,799 12,908 14,461 14,592 1% Long Grove 4,541 7,363 8,101 8,251 2% Mettaw a % Mundelein 22,023 28,865 31,104 31,287 1% North Chicago 35,785 36,150 32,781 32,569-1% Park City 4,705 7,017 8,222 8,385 2% Riverw oods 3,000 4,306 3,549 3,402-4% Round Lake 3,764 7,185 18,192 19,759 9% Vernon Hills 15,529 22,044 25,843 26,181 1% Volo NA 1,488 3,563 3,948 11% Wadsw orth 2,570 2,756 3,762 3,860 3% Wauconda 7,481 8,948 13,995 14,897 6% Waukegan 70,309 87,542 88,863 88,702 0% Zion 20,171 23,388 24,514 24,594 0% Source: Nielsen

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5 Lake County Household Trends Est 2018 Proj Community Total Avg Size Total Avg Size Total Avg Size Total Avg Size Antioch 2, , , , % Bannockburn % Barrington 3, , , , % Beach Park 3, , , , % Buffalo Grove 13, , , , % Deerfield 5, , , , % Fox Lake 3, , , , % Grayslake 2, , , , % Gurnee 5, , , , % Haw thorne Woods NA NA 1, , , % Highland Park 11, , , , % Highw ood 2, , , , % Inverness 2, , , , % Kildeer , , , % Lake Bluff 2, , , , % Lake Forest 5, , , , % Lake Villa 1, , , , % Lake Zurich 4, , , , % Libertyville 6, , , , % Lincolnshire 1, , , , % Lindenhurst 2, , , , % Long Grove 1, , , , % Mettaw a % Mundelein 7, , , , % North Chicago 7, , , , % Park City 1, , , , % Riverw oods , , , % Round Lake 1, , , , % Vernon Hills 5, , , , % Volo NA NA , , % Wadsw orth , , % Wauconda 2, , , , % Waukegan 24, , , , % Zion 6, , , , % Source: Nielsen

6 Lake County Median Income Community Est 2018 Proj Antioch $56,833 $71,235 $72,743 2% Bannockburn $107,917 $145,968 $150,909 3% Barrington $90,554 $101,332 $102,219 1% Beach Park $59,849 $61,110 $62,152 2% Buffalo Grove $80,596 $83,501 $84,183 1% Deerfield $110,094 $117,659 $121,150 3% Fox Lake $48,663 $57,269 $58,178 2% Grayslake $71,909 $84,530 $85,590 1% Gurnee $74,581 $74,284 $75,739 2% Haw thorne Woods $124,617 $130,955 $134,825 3% Highland Park $101,660 $101,789 $106,256 4% Highw ood $46,250 $75,989 $77,991 3% Inverness $112,089 $111,169 $110,395-1% Kildeer $123,708 $124,551 $128,467 3% Lake Bluff $102,108 $106,696 $111,654 5% Lake Forest $138,667 $120,359 $126,025 5% Lake Villa $65,232 $81,675 $82,657 1% Lake Zurich $86,890 $105,313 $107,114 2% Libertyville $90,031 $96,072 $98,875 3% Lincolnshire $129,749 $113,311 $117,235 3% Lindenhurst $74,215 $93,071 $94,233 1% Long Grove $129,816 $123,316 $127,429 3% Mettaw a $106,618 $115,909 $122,727 6% Mundelein $68,380 $81,556 $83,410 2% North Chicago $38,601 $44,005 $44,768 2% Park City $41,207 $42,795 $43,333 1% Riverw oods $121,168 $122,527 $129,819 6% Round Lake $55,945 $70,315 $71,632 2% Vernon Hills $74,718 $85,938 $87,680 2% Volo $66,833 $91,822 $93,236 2% Wadsw orth $82,770 $86,188 $87,624 2% Wauconda $57,396 $74,747 $76,776 3% Waukegan $43,009 $44,881 $45,353 1% Zion $46,077 $48,904 $49,606 1% Source: Nielsen

7 Major Employers Lake County Major Employers Employers City Number of Employees U.S. Department of the Navy Great Lakes 23,000 Abbot Laboratories Abbott Park 15,300 Aon/Hew itt Lincolnshire 4,700 Baxter Helathcare Corporation Deerfield 4,500 WW Grainger Lake Forest 3,610 Discover Financial Services Riverw oods 3,500 Motorola Inc Libertyville 3,400 Vista Hospitals Waukegan 2,850 LaCosta Facility Support Services Wauconda 2,800 CDW Corp Vernon Hills 2,500 Source: 08/11 Institutional Uses Several hospitals including Northwestern Lake Forest Hospital, Highland Park Hospital, Provena Saint Therese Medical Center and the Condell Health Network serve the area. The College of Lake County, Trinity International University, and Lake Forest College are just a few schools that provide post-high school education opportunities for a number of area residents. Recreation There are several golf courses in the area including Pine Meadow and numerous private clubs. Six Flags Great America is a popular amusement park in Gurnee. In addition, there are many lakes in the region including the Chain O Lakes that include Fox Lake, Lake Marie, Grass Lake, and Nippersink Lake. The Fox River flows into the Chain O Lakes. Transportation The dominant transportation features for Lake County are the 94 Tollway and Interstate 294. There are several US routes that run throughout the area. Airports are located in Waukegan and Grayslake. Metra has three different train lines that serve the market. Conclusions Lake County consists of a broad range of housing options ranging from entry level housing to large estates. With much of the market still being open space, new development potential still exists. However, most residents in the area favor slow growth which is aided by the fairly limited major transportation routes. The strength of the retail & office markets varies by community with the medical industry providing a significant base of employment. The long term outlook for the market area is good Appraisal Research Counselors