Opening a New Businesses in Downtown Elgin: The 9 Most Wanted
A key part of the DNA’s mission to create a thriving downtown is the ongoing search for new businesses that enhance current downtown offerings. The following new business priority list was assembled with input from the community, needs DNA has identified through research, and in consideration of current businesses trends. As the search for new business partners continues, the Downtown Neighborhood Association will prioritize marketing outreach for businesses in the following 9 categories.
#1 RESTAURANTS
More restaurants are the #1 request from our community! Concepts and cuisine not already represented in downtown or Elgin as a whole including:
- Ice Cream Shop – everyone wants ice cream!
- Roof-top, outdoor, and riverfront locations
- Vegan / special diet options
- Fast Casual and sit-down concepts.
- Ethnic Cuisines
- Median price-point menus
#2 BEVERAGE CONCEPTS
Unique beverage concepts to enhance existing bar options and grow downtown nightlife.
- Brewery
- Distillery
- Wine bar
- Craft cocktail lounge
- Sports bar
#3 ENTERTAINMENT
Experiential adult-focused and family friendly concepts such as:
- Vintage arcade
- Indoor playground
- Competitive entertainment – shuffleboard, bocce ball, billiards, trivia, Lotieria
- Live music concepts
- Nightspots – Dancehall, Salsa club, etc
WHY LOCATE IN DOWNTOWN ELGIN?
The cost of real estate in Downtown Elgin is as much as 30% lower than surrounding competing communities. On average the cost of commercial space in Downtown Elgin is $8-$13 per square foot.
#4 CLOTHING AND APPAREL
- Menswear – unique and modern styles for party and casual wear
- Ladies – unique, handmade, small batch, locally produced or quality vintage
- Cultural Attire – Quinceanera, leather goods, native costuming
- Urban wear – t-shirts, sneakers, accessories, artistic styles and on trend brands
- Wedding wear – Bridal
- Recreation focused – skateboarding, river sports, running, athletics
- Kids and teen focused apparel – tee-shirts, custom screen printing
#5 UNIQUE RETAIL
One-of-a-kind stores selling quality products not currently represented downtown. In-store programming and unique service models are encouraged.
- Independent bookstore
- Gamer store / hobby store / comics
- Art and artisan products
- Body care
- Housewares and décor
- Retail/service hybrid businesses
- Earth continuous / low waste products
- Cultural retail – businesses catering to the preferences and needs of the Hispanic community
#6 FOOD MARKET/CONVENIENCE
A small-scale neighborhood market offering groceries and essential supplies focused towards downtown resident and visitor needs.
#7 LODGING
With many popular events and venues in our downtown area a hotel would help grow our downtown to the next level!
DNA partners with the Elgin Area Convention & Visitor Bureau (EACVB) to help provide support and information on area trends for lodging businesses.
- Hotel
- Bed & Breakfast
#8 ARTISAN PRODUCTION
- Maker spaces / shared kitchens
- Small scale manufacturing – hardware, hot sauce, handbags, etc
- Production / retail hybrid businesses
- Wholesale / retail / online sales
#9 OFFICE BUSINESSES
Downtown Elgin could be an ideal location for your business headquarters or administrative office. Companies adding to the daytime foot traffic are encouraged to explore upper-level properties featuring city and river views.
With many restaurants, meeting spaces and amenities, downtown Elgin could be a great place for your team to work.
- Admin offices
- Tech-based businesses
- Marketing and creative offices
- Architectural services
