CCC Sources and Uses

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Calumet Country Club Redevelopment Plans

Calumet Country Club (CCC), together with Catalyst Consulting Group LLC, a local development consulting firm and its Development Partners have assembled a design concept in an attempt to orchestrate a newly revised rezoning and redevelopment plan for the Country Club. Catalyst Consulting Group and its Development partners has collaborated with a host of business professionals, community stake holders, community outreach organizations, and local faith-based institutions that has assist in addressing the needs and concerns of the community. Together with community input, and our team of professionals we will be transforming Calumet Country Club (approximately 130-acres of space) into a revenue producing asset to the area.

Calumet Country Club Golf Coarse was Established in 1901, it was designed by renowned architect, Donald Ross. Located directly east of the interstate I-80/I-294, and just two blocks from the train station, Calumet Country Club is easily accessible by car, bus or train.

Over the past two years there has been several design concepts to redevelop the Country Club into a different economic engine that could possibly bring a strong increased tax base to the Village of Hazel Crest or Unincorporated Cook County. After the first concepts of introducing a warehousing and trucking facility, we quickly found that this was not in the best interest of the community or its surrounding neighbors The new plan for redevelopment includes a gorgeous 31-acre dedicated sanctuary where residents can enjoy its green space amenities. Amenities which include reflection ponds with shaded walking paths spanning over three miles, outdoor fitness stations, children’s play area, off-leash dog park, and a sheltered area designed for family and friends activities

Spanning the entire Dixie Highway exposure of the development, will include a beautifully landscaped frontage of proposed retail buildings The expected tenant mix includes restaurants, banks, Coffee shops, Copy and packing facilities, fresh food market and several other retail stores that will provide long awaited goods and services. Cornering the site at Dixie Hwy and 175th street will be a proposed 120 key hotel facility with several amenities with ratings of a five star Hotel. This Hotel will be a welcome complement to the Newly approved Casino currently to be constructed in Homewood /East Hazel crest only 1.5 miles from our site.

Immediately to the north side of the Hotel and along 175th street there will be additional retail stores. As we move north on 175th street the current Calumet Country Club will be revived and renovated to maintain its current historic beauty. The newly designed interior will restore its historic persona , but in addition to its current banquet hall we will have two simulated golf stations, a renown chef managed cooking kitchen to service the banquet facility, The Saluki Bar and Gill as well as The Tusk Cigar Lounge. Also within these Historic walls a Coffee shop that will serve various types of imported coffee from our beloved mother land “AFRICA” and many other varieties of pastries etc. Next door to the Country Club we will renovate and add an addition to the existing Golf Cart Storage Facility to a state of the art job Training and Mentoring Facility for Minorities and Entrepreneurs. This training facility will prepare local residents for sustainable jobs in and around the field of construction.

Also on 175th street just north of the Training Facility will be a well designed athletic complex with a full array of Concessions, Bleachers, Broad Casting Booth and Band Shelter to support a lighted artificial grass turf football, soccer, field hockey and LaCrosse facility, surrounded by an Olympic size track

Starting at the Athletic venue will be the entrance to a well managed walk path and water feature sanctuary. The trail will be lined with landscaping and trees to give a nature walk type environment

On the Far East end of the development on Dixie Hwy near the I-80/I-290 expressway will be one of the south suburban main grow facilities This area will house a 12 acre Aquaponics grow farm with fish and vegetable as the

main source food. To complement the farm there will be a retail store environment fully equipped with the most updated technology and learning center about the Aquaponics and sales.

On the remaining 58 Acres surrounded by all of the above listed retail and green space development will be a Commercial warehousing district. This district will be constructed to house Multiple vendors and vendor products as well as a Prefabricated housing plant that will erect windows, doors and homes. Within this dynamic warehouse Mecca we will also include a transparent solar glass manufacturing facility, a pet suites and a wild forks retail distribution facility.

Catalyst and Its Partners are dedicated and understand that a development of this magnitude requires a well planned and designed infrastructure system. This system will included an elaborate traffic lighting system with up to date technology. The site itself will include a Geo thermo energy saving platform and design that will allow its tenants to enjoy large savings on their operating cost. The external and internal digital revolution in motion and technology will include multi-fuctional designs, renewable energies from solar and water

This dynamic development plan is prepared and poised to bring hundreds if not thousands of short and long term sustainable employment opportunities and benefits, including tax relief to governing bodies and community residents. Catalyst and its Development partners are totally committed to working with minority contractors and local workforces. Catalyst is actively seeking a welcomed partnership with the historically Black-Owned Community Banks and other retail businesses Catalyst understands that keeping community assets (through deposits) within the community makes the partnership a very important tool for a development of this magnitude.

Catalyst and its Partners, considers it paramount in developing a comprehensive project plan that will attract and retain both growing and established environmentally friendly businesses. Catalyst and its Partners conceptualizes plans that includes companies that are property owners or leasers operating in an eco-industrial park, mixed use, sustainable, environmentally friendly Plan Unit Development

SOURCES AND USES OF FUNDS

Notes: Enter data only in Columns C and H. Column C figures will total automatically.

Project Name: Developer: Date: % of Total SOURCES Amount Sources Equity Cash Equity $2,000,000 0% Real Estate $23,881,770 3% Source: Other Equity $0 0% Source: Total Equity $25,881,770 4% Loans Bank Loan $480,000,000 66% Terms: Mezzanine Loan $0 0% Terms: Other Financing $0 0% Terms: Total Loans $480,000,000 66% Sales Revenue $85,776,000 12% Source: Government Assistance Land Write-Down $0 0% TIF $135,000,000 19% Tax Credits $0 0% Source: Grants $0 0% Source: Other $0 0% Source: Total Assistance $135,000,000 19% Total Sources $726,657,770 100% $ per SFof USES Amount Building Area* Land Acquisition $36,565,020 $12 92 Demolition $850,000 $0 30 Site Preparation $52,554,032 $18 57 Landscaping & Paving $2,735,000 $0.97 Hard Costs $417,341,080 $147 43 Equipment $0 $0 00 Furniture and Fixtures $0 $0.00 Soft Costs $75,578,856 $26 70 Total Uses $585,623,988 $206 88
Building area
2,830,737 square feet
*
=
Attachment A
Consulting
August 28 2022
CCC Redevelopment Project Catalyst
Group LLC

Attachment A DETAILED CONSTRUCTION BUDGET

Note: Enter data only in Column C Totals will be calculated automatically

Developer: Date:
Project Name:
$ per SFof % of Total Amount Building Area* Project Costs Comment: Land Acquisition City Land $0 $0.00 0.0% Other Property $36,525,060 $12 90 6 2% Total Land Acquisition $36,525,060 $12 90 6 2% Demolition $850,000 $0.30 0.1% Site Preparation Utilities $7,902,650 $2 79 1 3% Environmental $275,000 $0.10 0.0% Foundation Removal $0 $0 00 0 0% Grading $17,348,500 $6 13 3 0% Other $27,027,882 $9 55 4 6% Total Site Preparation $52,554,032 $18.57 9.0% Landscaping & Paving $2,735,000 $0.97 0.5% Hard Costs Construction $374,869,738 $132 43 64 0% General Contractor Fee $37,486,973 $13 24 6 4% General Conditions $4,984,369 $1 76 0 9% Hard Cost Contingency $0 $0.00 0.0% Total Hard Costs $417,341,080 $147.43 71.3% Equipment $0 $0 00 0 0% Furniture and Fixtures $0 $0.00 0.0% Soft Costs Architect Fee $10,919,620 $3 86 1 9% Project Management $5,250,000 $1 85 0 9% Developer Fee $42,000,000 $14 84 7 2% Legal/Accounting $875,000 $0 31 0 1% Leasing Commissions $4,010,236 $1 42 0 7% Market Studies $175,000 $0 06 0 0% Financing Fees $5,600,000 $1 98 1 0% Financing Interest $2,500,000 $0 88 0 4% Real Estate Taxes $600,000 $0 21 0 1% Insurance $1,549,000 $0 55 0 3% Appraisal $250,000 $0 09 0 0% Testing $250,000 $0 09 0 0% Permits $700,000 $0 25 0 1% Other Soft Costs $0 $0.00 0.0% Soft Cost Contingency $900,000 $0 32 0 2% Total Soft Costs $75,578,856 $26 70 12 9% Total Project Costs $585,584,028 $206.87 100.0% * Building area = 2,830,737 square feet
CCC Redevelopment Project Catalyst Consulting Group LLC August 28 2022
Project Name: 1 2 3 4+ Pr nc pal $480,000,000 Deve oper: Commerc al Rent 1% 2% 3% 4% Term (years) 30 0 Date: Residentia Rent 0% 0% 0% 0% Interest Rate 4 5% Parking/Other Revenue 0% 0% 0% 0% Years 1 2 3 4+ Operating Expense 1% 1% 0% 0% Commercia 8% 5% 3% 2% Real Estate Tax 0% 0% 0% 0% Total Equity $25,881,770 Res dential 0% 0% 0% 0% Capital Reserves 0% 0% 0% 0% Total Pro ect Costs $585,034,028 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10 YEAR 11 INCOME SF Rent/sf Year 11 NOI $76,422,418 Commerc al Rent 1,542,577 $36 25 /yr $55,918,416 $56 477,600 $57,607,152 $59 335,367 $61,708,782 $64,177,133 $66,744,218 $69,413,987 $72,190,546 $75,078,168 $78,081,295 Cap Rate (enter rate) 10 0% Commerc al Expense Recover es - $0 00 /yr $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Gross Reversion $764,224,182 Res dentia Rent- Market Rate - $0 00 /mo $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Less Cost of Sa e (enter rate) 2 0% Res dentia Rent- Affordab e - $0 00 /mo $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net Reversion before Debt $748,939,698 Park ng Revenue per space 12 $30,000 00 /mo $4,320,000 $4 320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 $4,320,000 Less Loan Balance ($384,429,287) Other Revenue - $0 00 /yr $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net Reversion $364,510,411 GROSS POTENTIAL INCOME $60,238,416 $60 797,600 $61,927,152 $63 655,367 $66,028,782 $68,497,133 $71,064,218 $73,733,987 $76,510,546 $79,398,168 $82,401,295 Commerc al Vacancy ($4,473,473) ($2,823,880) ($1,728,215) ($1,186,707) ($1,234,176) ($1,283,543) ($1,334,884) ($1,388,280) ($1,443,811) ($1,501,563) ($1,561,626) Res dentia Vacancy $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 EFFECTIVE GROSS INCOME (EGI) $55,764,943 $57 973,720 $60,198,938 $62 468,660 $64,794,606 $67,213,590 $69,729,334 $72,345,707 $75,066,736 $77,896,605 $80,839,669 EXPENSES SF Cost/sf Maintenance, Repa rs, Uti it es 1,542,577 $0 72 $1,110,655 $1 121,762 $1,132,980 $1,132,980 $1,132,980 $1,132,980 $1,132,980 $1,132,980 $1,132,980 $1,132,980 $1,132,980 Real Estate Taxes 1,542,577 $1 35 $2,082,479 $2 082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 $2,082,479 Overal IRR 11 8% Insurance 1,542,577 $0 10 $154,258 $155,800 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 Equity IRR 96 9% Management Fee EGI 1% $557,649 $579,737 $601,989 $624,687 $647,946 $672,136 $697,293 $723,457 $750,667 $778,966 $808,397 Professiona Fees 1,542,577 $0.10 $154,258 $155,800 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 $157,358 Other Expenses 1,542,577 $0 05 $77,129 $77,900 $78,679 $78,679 $78,679 $78,679 $78,679 $78,679 $78,679 $78,679 $78,679 TOTAL EXPENSES $4,136,428 $4 173,479 $4,210,844 $4,233,541 $4,256,800 $4,280,990 $4,306,148 $4,332,311 $4,359,522 $4,387,820 $4,417,251 NET OPERATING INCOME (NOI) $51,628,515 $53 800,242 $55,988,094 $58 235,119 $60,537,806 $62,932,600 $65,423,186 $68,013,396 $70,707,214 $73,508,785 $76,422,418 SF Cost/sf Reserves - $0 00 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 --Other Capital Costs (insert for each year) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 --Debt Serv ce $29,185,074 $29 185,074 $29,185,074 $29 185,074 $29,185,074 $29,185,074 $29,185,074 $29,185,074 $29,185,074 $29,185,074 --NET CASH FLOW before depreciation $22,443,441 $24 615,168 $26,803,020 $29 050,045 $31,352,732 $33,747,526 $36,238,112 $38,828,322 $41,522,140 $44,323,711 --C ty o Ch cago Dept of Commun ty Deve opment 6/09 Internal Rates of Return Equity / Total Project Costs
Attachment A Growth Rates Mortgage Vacancy Rates (Sample Cash Flow Project on) Years Note: Enter data only in shaded cells. CCC Redee opmentt Pro ect Catalyst Consult ng Group LLC August 28 2022 Calculation of the Reversion
REVENUE PROJECTIONS - RENTAL PROJECT

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