What is the value of ‘main street’? Framing and testing the arguments

Abstract

• This paper defines and then quantitatively analyzes the American main street • The analysis is a quantified assessment of whether assumptions about the value of main street retail can be supported. • The paper presents a literature summary of the causes of main street decline. • A conceptual framework posits three main street qualities: density, diversity and stability. • Using proxy variables for each category, 7,000 blocks in the City of Chicago are analyzed. • The data provides support for the three qualities of main street retail. • The conclusion presents some policy options for sustaining main street retail.