Buying a retail space in a metropolitan area can be a challenge, largely because of the shortage of space. Sometimes, you might have to make do with a smaller space than you initially wanted. At other times, you may be able to introduce innovations such as a mezzanine level that increases your space. It’s rare to find the exact amount of space you need in the neighborhood of your choice. So when you’re buying a Chicago retail space, you can keep the following pointers in mind to make the best use of the space that you have:
- Vertical vs. Horizontal. Generally, when buying a retail space, most people tend to look only at the square footage. However, in many old buildings, the ceilings are very high and it would be easy to build another level for your store above the one that you can see. This is an expedient that has been adopted by many stores of late. You enter a store thinking that it’s small, almost boutique-sized, and it turns out that it has a basement as well as an upper level. Similarly, you could check out whether there is another floor available above the one that you’re looking at. The only thing you’d have to do is connect the two with an escalator and you’d have twice as much space.
- Converting Unused Spaces. Nowadays, many areas that used to be industrial are becoming chic. Warehouses are being converted into lofts and galleries, not to mention restaurants and stores. You could consider taking over an unused space like this and giving it an industrial-chic look which is really in fashion. The great thing about warehouses is that they’re huge in terms of size and have many windows. So instead of struggling with the usual space issues in urban areas, you’ll find that you have as much space as you need at a price that suits you. However, make sure that you acquire the space at the right time because once the prices have shot up, they’re unlikely to go back down.
So if you’re thinking about getting a retail space in Chicago, consider the above two options to increase the space you have. Contact us for more details and retail space listings.