Thursday, November 29, 2007

Empty Stores on the Square - Why?

I wonder just what the true state of business is on the Woodstock Square.

In a comment posted to a recent article about Angelo's trash on the sidewalk, one reader proposed a reason for the number of vacant stores on the Square - super-high property taxes; in some cases, the taxes being higher than the rent.

Does anyone have an example of this? Do landlords offer rentals at rent plus property taxes? Can any commercial real estate agent explain Triple Net leases?

How about some examples of rents on the Square? And total landlord costs (rent, property taxes, utilities, maintenance, etc.)? When rents (alone) are sky-high, is it any wonder that we don't have very many exciting stores on the Square? Or why prices must be very high (so that a merchant can afford to stay in business)?

What kind of stores do we want on the Square? Are we willing to patronize them and skip Wal-Mart and Kmart? Do you buy your paint at Lloyd's or at Ace Harware or at Menard's?

Is parking really that big of a deal? Are you willing to walk a block for your cup of Starbuck's? Or, if you can't park right in front (legally, please), do you pass it up?

6 comments:

Anonymous said...

There are empty stores because: >There are too few shoppers. They all go to Woodstock WalMart, Crystal Lake stores and other stores in nearby towns. >There are not enough retail/specialty/unique stores and too many bars and restaurants. >Stores are not open late. Most close at 4:00pm or 5:00pm and most people including myself work until 5:00pm. Even on the weekends there are not many open late. >The building property taxes are too high. >The store rent is too high.

Gus said...

Great analysis. Quick! Send your bill to the City, before they commission a study for $46,000 to figure out why the stores are empty.

Anonymous said...

The $46,000 study you are referring too is to come up with a solution for Angelo's garbage. The city hired 4 engineers and analysts to come up with a solution for the problem that you brought to the city's attention. I heard they're designing at evaporator to make the garbage disappear into space. Please get your facts straight. Thanks Gus.

Gus said...

And then there is that other $46,000 study, which will inform the City that it should build a parking structure on Throop behind the movie theater. As if nobody has ever thought to that. But a "study" will make it official, so that the Council can approve it. I'm still wondering where the 1,400 parking spaces are within one block of the Square. Are there really that many? And how many places are taken up on the Square by employees at work in stores and businesses on the Square? Does anyone know how many tickets the parking enforcement officer issues? Does he chalk tires or does he have a space-age electronic parking planner and citation generator?

Anonymous said...

I can't believe you are too busy to follow him around and harass him about the number and manner of citing parking scofflaws. Maybe you could lug a Denver Boot around for him it would bring a purpose to your all too empty life.

Anonymous said...

i think gus has a valid point, but in my opinion, i believe that woodstock should follow the lead of amsterdam,holland. legalize prostitution,soft narcatics,and open up city controlled coffee houses,i.e(like starbuck/caribou),that sell mariuana cigaretes,that are taxed at60%. that will alone bring extra revenue that the city and owners need., sincerely,manager bulldog cafe,amsterdam,holland