This paper introduces a new systematic retrofit design method for screening, identifying, and evaluating retrofit options targeted at improving the cost-efficiency of a continuous chemical process. The method is organized in five steps: (1) base case analysis, (2) generation of retrofit options, (3) rough economic evaluation of the retrofit options, (4) process optimization with regard to retrofit options that do not require investment, and (5) feasibility study as well as the economic profitability of the retrofit options that require investment. The first three steps were covered in a prior paper (Uerdingen, E. et al. AIChE J. 2003, 49, 2400-2418), while here Steps (4) and (5) are described in detail and the overall methodology is demonstrated using a case study from the fine chemical industry. For this industrial process, a number of interesting retrofit options were identified through the new method. The process was then optimized with regard to those retrofit options (optimization parameters) that do not require investment. For exemplary purposes, one of the remaining retrofit options that requires investment (structural retrofit alternatives) was evaluated in detail on its feasibility and economic profitability. The results obtained for this case study demonstrate the benefits of the new retrofit design method in systematically identifying and evaluating economically beneficial retrofit options for continuous chemical processes.