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500,000 SF MIXED-USE CONDOMINUM AND HOTEL TOWER A HILTON PROPERTY
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PRESENTS AN INVESTMENT OPPORTUNITY FOR:
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C H I C A G Odestination, urban A luxury residences, and boutique hotel Futura Md BT Medium Chicago’s downtown steps from central business district. RESIDENCES
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REGIONAL LOCATION
CONDOMINIUM
OPPORTUNITY
young professionals, the resultant project delivers 200,000 saleable square feet of condominium space. Through 189 condominium units sold at a 2014 projected $360/sf, condominium unit , parking, and retail sales are estimated to total $81 million.
Beyond Development, LLC is seeking equity investment in a unique
With a target market of
development opportunity in downtown Chicago, Illinois. Located just blocks from Chicago’s Central Business District, this site has the potential to be an after hours destination for the downtown workforce, provide market-
HOTEL
residences for Chicago’s financial sector, and offer much needed downtown hotel accommodations.
With a target market of Monday-Friday business
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Beyond Development, LLC is seeking total equity investment of $6.125 CHICAGO
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The dedication of this amenity space, and the project’s proximity to
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Chicago’s Loop are a recipe for creating a successful mixed-use C H I C A G O attractor development in downtown Chicago.
ISIS
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innovative planning strategy creating a separation space between the podium and tower sections of the building. These floors allow 12,000sf of outdoor bar/restaurant space, which is comparable in concept but larger than that of the Wit and Dana hotels.
ISIS
INVESTMENT SUMMARY IS
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The potential success of Isis Tower is centered around an efficient and
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travellers, the hotel section of the tower encompasses 126 keys, estimated at an Average Daily Rate of $225. Based on a conservative 2014 Occupancy Rate of 65%, the hotel will have a RevPar of $146. A projected 2014 Capitalization Rate of 8.0% delivers a Net Operating Income of $2 million. Sale of the hotel in 2018 estimates a Cap rate of 4.5%, with a projected hotel market value of $62 million. CHICAGO
rate condominium
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EXECUTIVE SUMMARY
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year holding period. A projectedC 2018 HICAGO CHICAGO sale delivers a Cash on Cash return of 250%, and an I.R.R. of 17%. CHICAGO Myriad Pro
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2014. Condo Cash on Cash return is estimated at 65% with an Internal Rate of Return estimated at CHICAGO C H I C ACGHOI C A G O CHICAGO 13.4%. in fourth quarter
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ARCH 563 Spring 2011 David Pollard
ZONING ANALYSIS Property: Franklin Point (Harrison & Wells) Chicago, Illinois
ZONING DATA Description Zoning Lot Area Relevant Permissible Uses Min. Lot Area per Unit
F.A.R.
Maximum Height Front Setback Side Setbacks Rear Setback
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CALCULATIONS Data DX‐7 26250
Comments Downtown Mixed‐Use 125'x210' Dwelling Units Allowed Above Ground Multi‐Family Floor Hotel Hotel/Motel, Bed & Breakfast 145 Dwelling Units 90 7.0 No Restriction, but see comments for PD threshold N/A N/A 30ft.
Efficiency Units Bonuses Allowed PD approval required for height over 155ft. Mutifamily, and over 180ft. Hotel No setback required No setback required Setback Required only at floors with Dwelling Units
MAX. DWELLING
181 UNITS
MAX. EFFICIENCY MAX. BUILDABLE
292 UNITS 183750 SF
ZONING DATA
DOWNTOWN MIXED-USE DEVELOPMENT 600 S Wells Chicago IL
DX-12 / FAR 12.0
MAX HEIGH T3
S W ELL S
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(26,250 sqft of lot area)
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MAX Dwelling units (292 efficiency)
315,000 sqft MAX Buildable area
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(90 sqft for efficiency)
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K ON C A B T E S 30’ ORS O L F L A I T RESIDEN
30’
145 sqft MLA
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ZONING ANALYSIS
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CONDOMINIUM A
CONDOMINIUM B
235 W. Van Buren St. (Franklin & Van Buren)
520 S. State St.
Library Tower 520 S. State St. State & Congress)
235 W. Van Buren
Harrison & Wells Site
Harrison & Wells Site
Number of units: 714 Average unit size: 894 square feet Unit mix: Studio: <0.1 % 1 Bedroom: 35% 2 Bedroom: 65% Average size per unit: 1 Bedroom: 705 square feet 2 Bedroom/1 Bath: 942 square feet 2 Bedroom/2 Bath: 1028 square feet Average prices: Studio: $179,000 1 Bedroom: $208,400 2 Bedroom/1 Bath: $287,400 2 Bedroom/2 Bath: $327,450 Average price per net square foot by unit type: 1 Bedroom: $295 / sf 2 Bedroom/1 Bath: $305 / sf 2 Bedroom/2 Bath: $318 / sf
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Target Market is Young professionals working in the loop area. UNITS: 174 NEW MODERN CONSTRUCTION 2008 AMENITIES: 24 hr Doorman On-Site Management Exercise Room Business Center Party Room Rooftop Deck UNIT MIX: 1br/1ba 860-1085sf 2br/2ba 1290-1430sf 3br/2ba 1805-2130sf AVERAGE PRICE: $248/sf (2010) 90% Sold
MARKET ANALYSIS | CONDOMINIUM
CONDOMINIUM C
CONDOMINIUM D
Museum Park Place 1901 S. Calumet
Harrison & Wells Site
Market Analysis 3 - Condominium R+D 659 659 W. Randolph, Chicago, IL, Harrison & Wells Site
Number of units: 217 Average unit size: 883 square feet Unit mix: Convertible: 15% 1 Bedroom: 40% 2 Bedroom: 20% 3 Bedroom: 25%
Number of units: 260 Average unit size: 1137 square feet Unit mix: 1 Bedroom: 25% 2 Bedroom: 58% 3 Bedroom: 17%
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Average prices: Convertible: N/A 1 Bedroom: $230,000 1 Bedroom + Den: $348,750 2 Bedroom: $417,500
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Average prices: 1 Bedroom: $256,250 CHICAGO C H I C A G O $337,500 2 Bedroom: 2 Bedroom + Den: $420,000 3 Bedroom: $575,000
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Average size per unit: 1 Bedroom: 763 square feet 2 Bedroom: 1035 square feet CHICAGO 2 Bedroom + Den: 1187 square feet C H I C A G O 1605 square feet 3 Bedroom:
Average size per unit: Convertible: 625 square feet 1 Bedroom: 778 square feet 1 Bedroom + Den: 947 square feet 2 Bedroom: 1154 square feet
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Average price per net square foot by unit type: 1 Bedroom: $335 / sf 2 Bedroom: $326 / sf C H I C A GC HOI C A G O C H I C ACGHOI C A G O CHICAGO 2 Bedroom + Den: $353 / RsfE S I D E N C E S RESIDENCES 3 Bedroom: $358 / sf ®
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MARKET ANALYSIS | CONDOMINIUM
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Average price per net square foot by unit type: Convertible: N/A 1 Bedroom: $296 / sf 1 Bedroom + Den: $368 / sf 2 Bedroom: $361 / sf * Parking is included in the price of the units
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HOTEL A JW MARRIOTT HOTEL
JW Marriott 151 W. Adams St. (Adams & Clark)
Harrison & Wells Site
HOTEL B
W Chicago - City Center 172 W. Adams St. (Adams & Clark)
W HOTEL
Harrison & Wells Site
Target Demographic is Mon. -Fri. Business travelers, some weekend family travelers
Target Demographic is Mon. -Fri. Business travelers KEYS: 368
KEYS: 610
VINTAGE BUILDING
AMENITIES: Ballrooms & Conference Space Bar Restaurant Spa Business center Fitness Center Swimming Pool (opens May1) RACK RATE:
AMENITIES: Bar Business center Fitness Center AAA 4 diamond RACK RATE: KING $259-$319 QUEEN $259 DOUBLE $309
KING $209 DOUBLE $209
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MARKET ANALYSIS | HOTEL
HOTEL C
THE WIT HOTEL
Wyndham Blake Hotel 500 S. Dearborn St. (Congress & Dearborn)
BLAKE HOTEL
HOTEL D The Wit Hotel 201 N. State St. (State & Lake)
Harrison & Wells Site
Target Demographic is Mon. -Fri. Business travelers, convention travelers, foreign tourists
Target Demographic is Mon. -Fri. Business travelers, convention travelers, weekend tourists
KEYS: 162
KEYS: 298
VINTAGE BUILDING
NEW BUILDING BUILT IN 2008
AMENITIES: Restaurant Bar Fitness Center CHICAGO Business center Meeting Rooms In-Room Spa
AMENITIES: Restaurant Rooftop Bar Fitness Center Business center Meeting Rooms Spa
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Harrison & Wells Site
CHICAGO
RACK RATE:
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MARKET ANALYSIS | HOTEL
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KING $309-$329 DOUBLE $329-$349
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OVERALL SITE LOCATION
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SITE ADJACENCIES & MASSING CONCEPT
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METRA STATION
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PRODUCED BY AN AUTODESK STUDENT PRODUCT
CHICAGO STOCK EXCHANGE
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W HARRISON STREET
S WELLS STREET
HOTEL ENTRY
HOTEL LOBBY
LOADING ENTRY
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BUILDING ACCESS DIAGRAM
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LOBBIES, AND ENTRY C H IPARKING CAGO C H I C A RETAIL, GO CHICAGO A HILTON PROPERTY
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RETAIL ENTRY
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CONDO C H I C AENTRY GO
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CONDO LOBBY
HARRISON STREET
HOTEL LOBBY
WELLS STREET
CONDO LOBBY
RAMP UP
RETAIL SPACE
PARKING
PARKING ENTRY
GRADE LEVELN
GROUND FLOOR PLAN Lobbies and Retail
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TYPICAL PARKINGNPLAN
TYPICAL PARKING PLAN Floors 2 thru 6
PODIUM PLANS
3
5
2
HOTEL LOUNGE
UNIT 2 2 BR 1105 SF
4
1
6
UNIT 1 2 BR 1416 SF
7
UNIT 4 1 BR 1091 SF
8
11
A HILTON PROPERTY
ISIS
®
ISIS
ISIS
CHICAGO
10
CHICAGO
21
A HILTON PROPERTY
CHICAGO
ISIS
CHICAGO
18
14
20
®
CHICAGO A HILTON PROPERTY
19
12
A HILTON PROPERTY
®
AMENITIES AMENITIES LEVELS PLAN
Swiss 721 LtCn BT CHICAGO ®
RESIDENCES
®
Futura NMd BT Medium ®
®
TYPICAL CONDO PLAN
Floors 9 thru 14
Floors 15 thru 35
Futura Md BT Medium
Swiss 721 LtCn BT
A HILTON PROPERTY
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
BUILDING FLOOR PLANS
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
N CONDO PLAN
CHICAGO
CHICAGO
®
John Smith
Possible nametag layout
®
ISIS
®
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
Myriad Pro
A HILTON PROPERTY
®
PLAN C H I C AHOTEL TYPICAL PLAN GO
C HHOTEL ICAGO RESIDENCES
16
CHICAGO
RESIDENCES
CHICAGO
CHICAGO
®
A HILTON PROPERTY
ISIS IS
ISIS ISIS
®
C H I C A GC HOI C A G O
RESIDENCES
UNIT 6 1 BR 924 SF UNIT 7 3 BR 1452 SF
ISIS
RESIDENCES
A HILTON PROPERTY
UNIT 8 1 BR 759 SF
Possible nametag layout
®
ISIS ISIS
C H I C ACGHOI C A G O
17
®
UNIT 5 1 BR 979 SF
John Smith
15
A HILTON PROPERTY
®
CHICAGO
Myriad Pro
CHICAGO
A HILTON PROPERTY
®
®
ISIS
CHICAGO
A HILTON PROPERTY
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
UNIT 9 1 BR 752 SF
CHICAGO
13
A HILTON PROPERTY
®
Floors 7 and 8
®
A HILTON PROPERTY
®
CHICAGO
ISIS
ISIS ISIS IS IS ISIS
®
®
CHICAGO A HILTON PROPEC R T YH I C A G O
N
CHICAGO A HILTON PROPERTY
CHICAGO
IS IS
CONDO AMENITIES
ISIS
®
ISIS
IS IS IS IS
9
ROOFTOP LOUNGE
UNIT 3 1 BR 1084 SF
be
10,096 sf
Mechanical/etc. (2.2%)
260,220 sf
Condominiums
CHICAGO
A HILTON PROPERTY
CHICAGO
CHICAGO A HILTON PROPERTY
CHICAGO
®
(5.1%)
A HILTON PROPERTY
®
CHICAGO A HILTON PROPERTY
ISIS
®
Amenities
®
CHICAGO
C H I(14.7%) CAGO
ISIS
25,827 sf
®
ISIS
ISIS ISIS IS IS ISIS
IS IS
IS IS
Hotel
A HILTON PROPERTY
®
ISIS
74,349 sf
CHICAGO
(51.5%)
ISIS
ISIS
®
ISIS
IS IS
PRODUCED BY AN AUTODESK STUDENT PRODUCT
505,686 sf
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
® ®
®
®
Parking
C H I C ACGHOI C A G O
RESIDENCES
A HILTON PROPERTY
Myriad Pro
®
Swiss 721 LtCn BT
RESIDENCES
®
Futura Md BT Medium
CHICAGO ®
RESIDENCES
Myriad Pro
®
John Smith
Possible nametag layout
®
CHICAGO
RESIDENCES
C H I C(4.5%) AGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
STACKING DIAGRAM
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
®
®
ISIS
®
Possible nametag layout
®
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
A HILTON PROPERTY
C H I Lobbies/retail CAGO
CHICAGO
(22%)
ISIS IS
ISIS ISIS
22,738 sf
®
®
C H I C A GC HOI C A G O
RESIDENCES
CHICAGO
®
®
John Smith
ISIS
CHICAGO
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
111,646 sf
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
189
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
(67%)
x 76
(60%)
x 50
(40%)
A HILTON PROPERTY
®
CHICAGO A HILTON PROPERTY
®
ISIS
x 126
CHICAGO
KING
CHICAGO
ISIS
®
®
CHICAGO
®
CHICAGO
ISIS
IS IS
ISIS ISIS IS IS ISIS
®
ISIS
CHICAGO
ISIS
ISIS
IS IS IS IS
ISIS
®
126
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
RESIDENCES
A HILTON PROPERTY
Swiss 721 LtCn BT CHICAGO RESIDENCES
RESIDENCES
®
Futura Md BT Medium
CHICAGO ®
RESIDENCES
CHICAGO
Myriad Pro
®
CHICAGO
CHICAGO
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
CONDO UNIT/ HOTEL ROOM MIX DIAGRAM
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
Futura Md BT Medium
Swiss 721 LtCn BT
A HILTON PROPERTY
CHICAGO
®
DBL
John Smith
Possible nametag layout
®
ISIS
®
(11%)
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
CHICAGO
x 21
A HILTON PROPERTY
Dbl
Possible nametag layout
ISIS IS
ISIS ISIS
®
CHICAGO
®
C H I C A GC HOI C A G O
RESIDENCES
®
(22%) ®
®
John Smith
ISIS
C H I C ACGHOI C A G O
Myriad Pro ®
®
CHICAGO
x 42
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
505,686 sf
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
(51.5%)
A HILTON PROPERTY
111,646 sf
Parking
(22%)
®
74,349 sf
Hotel
(14.7%)
Amenities
(5.1%)
®
CHICAGO A HILTON PROPERTY
ISIS
CHICAGO
CHICAGO
CHICAGO
ISIS
®
®
Condominiums
®
CHICAGO
ISIS
IS IS
ISIS ISIS IS IS ISIS
®
ISIS
CHICAGO
ISIS
ISIS
IS IS IS IS
ISIS
®
260,220 sf
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
RESIDENCES
A HILTON PROPERTY
Swiss 721 LtCn BT
RESIDENCES
Futura Md BT Medium
CHICAGO ®
RESIDENCES
CHICAGO
CHICAGO
Myriad Pro
®
CHICAGO
Lobbies/retail (4.5%) Mechanical/etc. (2.2%)
CHICAGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
GSF/USE DIAGRAM/PROJECT DATA
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
25,827 sf 22,738 sf 10,096 sf
A HILTON PROPERTY
CHICAGO
®
John Smith
Possible nametag layout
®
ISIS
®
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
®
®
CHICAGO
RESIDENCES
ISIS IS
ISIS ISIS
®
A HILTON PROPERTY
Possible nametag layout
®
C H I C A GC HOI C A G O
RESIDENCES
®
®
John Smith
ISIS
C H I C ACGHOI C A G O
CHICAGO
®
®
CHICAGO
Myriad Pro
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
be
INTERIOR VIEW CONCEPT RENDERING
be
ROOFTOP VIEW CONCEPT RENDERING
be
be
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
CHICAGO
CHICAGO
ISIS
®
®
CHICAGO
®
CHICAGO
ISIS
IS IS
ISIS ISIS IS IS ISIS
®
ISIS
CHICAGO
ISIS
ISIS
IS IS IS IS
ISIS
®
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
RESIDENCES
A HILTON PROPERTY
Swiss 721 LtCn BT
RESIDENCES
Futura Md BT Medium
CHICAGO ®
RESIDENCES
CHICAGO
CHICAGO
Myriad Pro
®
CHICAGO
CHICAGO
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
HOTEL ENTRY CONCEPT RENDERING
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
Futura Md BT Medium
Swiss 721 LtCn BT
A HILTON PROPERTY
CHICAGO
®
John Smith
Possible nametag layout
®
ISIS
®
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
®
®
CHICAGO
RESIDENCES
ISIS IS
ISIS ISIS
®
A HILTON PROPERTY
Possible nametag layout
®
C H I C A GC HOI C A G O
RESIDENCES
®
®
John Smith
ISIS
C H I C ACGHOI C A G O
CHICAGO
®
®
CHICAGO
Myriad Pro
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
Project Budget HARD/CONSTRUCTION COSTS Total Per condo Unit Div 1 General Conditions $ 3,500,000 $ 18,519 Div 2 Sitework Excavation $ 100,000 $ 529 Paving $ 20,000 $ 106 Sewer + Water $ 100,000 $ 529 Site Elec, Gas, Tel, Cable $ 200,000 $ 1,058 Caissons $ 1,500,000 $ 7,937 Div 3 Concrete Poured in Place Concrete Structur $ 14,000,000 $ 74,074 Concrete Topping $ 250,000 $ 1,323 Div 4 Masonry $ CMU Blockwork $ 450,000 $ 2,381 Div 5 Steel $ Structural Steel $ 200,000 $ 1,058 Ornamental Iron $ 200,000 $ 1,058 Steel Stairs $ 1,000,000 $ 5,291 Div 6 Wood + Carpentry $ Misc Carpentry $ 567,000 $ 3,000 Cabinetry $ 472,500 $ 2,500 Millwork $ 94,500 $ 500 Div 7 Moisture Control $ Roofing $ 102,321 $ 541 Waterproofing $ 25,000 $ 132 Caulking $ 200,000 $ 1,058 Div 8 Doors + Windows $ Window-Wall $ 5,000,000 $ 26,455 Doors + Frames $ 189,000 $ 1,000 Storefront $ 300,000 $ 1,587 Finish Hardware $ 47,250 $ 250 Div 9 Finishes $ Drywall + Partitions $ 3,500,000 $ 18,519 Painting $ 661,500 $ 3,500 Tile $ 661,500 $ 3,500 Carpet $ 132,300 $ 700 Hardwood Floors $ 1,265,141 $ 6,694 Div 10 Specialities $ Bath Accessories $ 47,250 $ 250 Div 11 Appliances $ Kitchen Aplliances $ 519,750 $ 2,750 Div 12 Furniture $ Lobby Furniture $ 100,000 $ 529 Div 13 Swimming Pool $ 500,000 $ 2,646 Div 14 Conveying Systems $ Elevators $ 3,000,000 $ 15,873 Div 15 HVAC, Plumbing and FP $ HVAC $ 2,268,000 $ 12,000 Plumbing $ 2,268,000 $ 12,000 Fire Protection $ 1,701,000 $ 9,000 Div 16 Electrical $ Electrical $ 3,024,000 $ 16,000 Lo-Voltage $ 56,700 $ 300 Security $ 250,000 $ 1,323 Total HardTotal Costs $ 48,472,712 $ 256,469
be
Per GSF % of Costs $ 9.67 $ $ $ $ $
0.28 0.06 0.28 0.55 4.14
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
38.66 0.69 1.24 0.55 0.55 2.76 1.57 1.30 0.26 0.28 0.07 0.55 13.81 0.52 0.83 0.13 9.67 1.83 1.83 0.37 3.49 0.13 1.44 0.28 1.38 8.29 6.26 6.26 4.70 8.35 0.16 0.69 133.87
0% 0% 0% 0% 3% 0% 29% 1% 0% 1% 0% 0% 0% 2% 0% 1% 1% 0% 0% 0% 0% 0% 0% 10% 0% 1% 0% 0% 7% 1% 1% 0% 3% 0% 0% 0% 1% 0% 0% 1% 0% 6% 0% 5% 5% 4% 0% 6% 0% 1% 100%
LAND COSTS Div 18 Land Land Demolition Remedition Total Land Costs
Total $ $ $ $
Per condo Unit 3,300,000 3,300,000
$ $ $ $
17,460 17,460
SOFT COSTS Total Per condo Unit Div 19 Architects + Engineers Architect $ 1,454,181 $ 7,694 Structural Engineer $ 727,091 $ 3,847 Civil Engineer $ 15,000 $ 79 MEP Engineer $ 484,727 $ 2,565 Commisioning $ 50,000 $ 265 Other Consultants $ 150,000 $ 794 Reimbursables $ 150,000 $ 794 Div 20 Legal + Accounting $ Attorney-General Counsel $ 200,000 $ 1,058 Zoning Attorney $ 25,000 $ 132 Accountant $ 25,000 $ 132 Div 21 Financing $ Construction Loan Fees (1%) $ 570,000 $ 3,016 Mezz Loan Fees (1%) $ 153,000 $ 810 Div 22 Title Insurance $ 150,000 $ 794 Div 23 Insurance $ General Liability $ 450,000 $ 2,381 Builder's Risk $ 200,000 $ 1,058 Workers Comp $ 75,000 $ 397 Div 24 Municipal Fees $ Permit Fees $ 1,000,000 $ 5,291 Real Estate Taxes $ 450,000 $ 2,381 Zoning Fees $ 10,000 $ 53 Div 25 Marketing $ Marketing Commisions (4%) $ 3,252,350 $ 17,208 Advertising $ 2,000,000 $ 10,582 Brochures, Website $ 150,000 $ 794 Sales Center $ 600,000 $ 3,175 Div 26 Surveys + QC Testing $ cost $ 63% $ hard15,000 Surveying 79 Surveying Condo Survey $ 100,000 $ 529 Concrete Testing $ 100,000 $ 529 Caisson Testing $ 75,000 $ 397 Geotechnical Testing $ 25,000 $ 132 Environmental Testing $ 25,000 $ 132 Div 27 Utilities $ Elec and Gas during sales period $ 200,000 $ 1,058 Div 28 Developer Fee (2%) $ 1,440,000 $ 7,619 Div 29 Developer Overhead (2%) $ 1,440,000 $ 7,619 Div 30 Construction Loan Interest (7 $ soft 5,831,000 $ 30,852 cost 32% Div 31 Soft Costs Contingency (5%) $ 550,000 $ 2,910 Div 32 Hard Costs Contingency (5% $ 2,423,636 $ 12,823 land cost $ 4% $ 24,565,985 Total Soft Costs 129,979
Per GSF $ $ $ $
9.11 9.11
Per GSF $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
4.02 2.01 0.04 1.34 0.14 0.41 0.41 0.55 0.07 0.07 1.57 0.42 0.41 1.24 0.55 0.21 2.76 1.24 0.03 8.98 5.52 0.41 1.66 0.04 0.28 0.28 0.21 0.07 0.07 0.55 3.98 3.98 16.10 1.52 6.69 67.84
% of Costs 100% 0% 0% 100%
% of Costs 6% 3% 0% 2% 0% 1% 1% 0% 1% 0% 0% 0% 2% 1% 1% 0% 2% 1% 0% 0% 4% 2% 0% 0% 13% 8% 1% 2% 0% 0% 0% 0% 0% 0% 0% 0% 1% 6% 6% 24% 2% 10% 100%
63%
63%
hard c
hard cost
32%
soft co
4%
land c
32%
soft cost
4%
land cost
CONDO BUDGET: OVERALL COSTS
PROJECT COSTS HARD COSTS LAND COSTS SOFT COSTS
Total Per condo Unit $ 76,338,697 $ 403,908 $ 48,472,712 $ 256,469 $ 3,300,000 $ 17,460 $ 24,565,985 $ 129,979
Per GSF % of Costs $ 210.83 100% $ 133.87 63% $ 9.11 4% $ 67.84 32%
SALES REVENUE Condo Sales Parking Sales Retail Sales Total Sales Revenue
Total Per Unit $ 72,293,760 $ 382,507 $ 6,615,000 $ 35,000 $ 2,400,000 $ 81,308,760
Per NSF $ 360.00 $
300.00
Per $ $ $ $
GSF % of Revenue 199.66 89% 18.27 8% 6.63 3% 224.55 100%
SOURCES + USES
CHICAGO
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
®
CHICAGO
ISIS
®
ISIS
IS IS
ISIS ISIS USES IS Project Costs IS ISIS Payback Construction Loan
A HILTON PROPERTY
®
ISIS
A HILTON PROPERTY
ISIS
IS IS
ISIS
®
®
ISIS
IS IS
SOURCES SOURCES USES Sales Revenue $ 81,308,760 CHICAGO Construction Loan (75% LTC) $ 57,254,023 CHICAGO CHICAGO Mezz Loan (20% LTC) $ 15,267,739 Investor/Developer Equity $ 3,816,935 CHICAGO Broker Sales Commision
63%
hard cost
32%
soft cost
4%
land cost
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
$ (76,338,697) CHICAGO CHICAGO CHICAGO John Smith $ (57,254,023) CHICAGO Payback Mezz Loan $ (15,267,739) Possible nametag layout Payback Equity $ (3,816,935) C H I C A GC HOI C A G O C H I C ACGHOI C A G O CHICAGO CHICAGO John Smith Distribution to Investor (50%) R E S I D E N C E S $ (2,485,032) RESIDENCES Distribution to Developer (50%) $ (2,485,032) Possible nametag layout Futura Md BT Medium Swiss 721 LtCn BT Myriad Pro $ 157,647,457 $ (157,647,457) CHICAGO CHICAGO A HILTON PROPERTY
®
®
®
RESIDENCES
A HILTON PROPERTY
®
®
RESIDENCES
CHICAGO
RESIDENCES
CHICAGO
A HILTON PROPERTY
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
CONDO BUDGET: OVERVIEW
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
63%
Futura Md BT Medium
Swiss 721 LtCn BT
CHICAGO
®
A HILTON PROPERTY
ISIS
®
®
®
A HILTON PROPERTY
Myriad Pro
A HILTON PROPERTY
®
®
RESIDENCES
CHICAGO
CHICAGO
®
®
ISIS IS
ISIS ISIS
®
®
ISIS
A HILTON PROPERTY
A HILTON PROPERTY
ISIS ISIS
®
®
ISIS
A HILTON PROPERTY
A HILTON PROPERTY
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
Project Budget HARD/CONSTRUCTION COSTS Total Per condo Unit Div 1 General Conditions $ 2,310,000 $ 18,333 Div 2 Sitework Excavation $ 66,000 $ 524 Paving $ 130,000 $ 1,032 Sewer + Water $ 66,000 $ 524 Site Elec, Gas, Tel, Cable $ 132,000 $ 1,048 Caissons $ 990,000 $ 7,857 Div 3 Concrete $ Poured in Place Concrete Structur $ 9,200,000 $ 73,016 Concrete Topping $ 165,000 $ 1,310 Div 4 Masonry $ CMU Blockwork $ 297,000 $ 2,357 Div 5 Steel $ Structural Steel $ 87,000 $ 690 Ornamental Iron $ 87,000 $ 690 Steel Stairs $ 435,000 $ 3,452 Div 6 Wood + Carpentry $ Misc Carpentry $ 297,000 $ 2,357 Cabinetry $ 247,000 $ 1,960 Millwork $ 49,000 $ 389 Div 7 Moisture Control $ Roofing $ 58,000 $ 460 Waterproofing $ 16,000 $ 127 Caulking $ 132,000 $ 1,048 Div 8 Doors + Windows $ Window-Wall $ 3,300,000 $ 26,190 Doors + Frames $ 99,000 $ 786 Storefront $ 198,000 $ 1,571 Finish Hardware $ 24,000 $ 190 Div 9 Finishes $ Drywall + Partitions $ 2,300,000 $ 18,254 Painting $ 346,000 $ 2,746 Tile $ 228,000 $ 1,810 Carpet $ 69,000 $ 548 Hardwood Floors $ 249,000 $ 1,976 Div 10 Specialities $ Bath Accessories $ 24,000 $ 190 Div 11 Appliances $ Kitchen Aplliances $ 272,000 $ 2,159 Div 12 Furniture $ Lobby Furniture $ 66,000 $ 524 Div 13 Swimming Pool $ 330,000 $ 2,619 Div 14 Conveying Systems $ Elevators $ 1,980,000 $ 15,714 Div 15 HVAC, Plumbing and FP $ HVAC $ 1,200,000 $ 9,524 Plumbing $ 1,200,000 $ 9,524 Fire Protection $ 900,000 $ 7,143 Div 16 Electrical $ Electrical $ 1,600,000 $ 12,698 Lo-Voltage $ 30,000 $ 238 Security $ 165,000 $ 1,310 Total HardTotal Costs $ 29,344,000 $ 232,889
Per GSF % of Costs $ 17.68 8% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
0.51 0.99 0.51 1.01 7.58 70.40 1.26 2.27 0.67 0.67 3.33 2.27 1.89 0.37 0.44 0.12 1.01 25.25 0.76 1.52 0.18 17.60 2.65 1.74 0.53 1.91 0.18 2.08 0.51 2.53 15.15 9.18 9.18 6.89 12.24 0.23 1.26 224.55
0% 0% 0% 0% 3% 0% 31% 1% 0% 1% 0% 0% 0% 1% 0% 1% 1% 0% 0% 0% 0% 0% 0% 11% 0% 1% 0% 0% 8% 1% 1% 0% 1% 0% 0% 0% 1% 0% 0% 1% 0% 7% 0% 4% 4% 3% 0% 5% 0% 1% 100%
LAND COSTS Div 18 Land Land Demolition Remedition Total Land Costs
Total $ $ $ $
Per condo Unit 1,700,000 1,700,000
$ $ $ $
13,492 13,492
Per GSF $ $ $ $
13.01 13.01
% of Costs 100% 0% 0% 100%
SOFT COSTS Total Per condo Unit Per GSF % of Costs Div 19 Architects + Engineers Architect $ 1,760,640 $ 13,973 $ 13.47 12% 1,162,022.40 Structural Engineer $ 440,160 $ 3,493 $ 3.37 3% Civil Engineer $ 10,000 $ 79 $ 0.08 0% MEP Engineer $ 293,440 $ 2,329 $ 2.25 2% Total Per Hotel Per GSF % of Costs Commisioning $ 50,000 $ 397 Unit $ 0.38 0% PROJECT COSTS $ 46,164,240 $ 3 6 6 , 3 8 3 $ 353.26 100% Other Consultants $ 150,000 $ 1,190 $ 1.15 1% HARD COST S $ 150,000 29,344,$000 $ 1,19023$ 2,8891.15 $ 224.55 1% 64% Reimbursables $ NDLegal COS+ T SAccounting $ 1,700,$000 $ 13 13.01 0% 4% DivLA20 $ ,492 - $ Attorney-General Counsel $ $ ,0021.53 SOF T COST S $ 200,000 15,120,$240 $ 1,587120 $ 115.70 1% 33% Zoning Attorney $ 25,000 $ 198 $ 0.19 0% SOURCES + USES Accountant $ 25,000 $ 198 $ 0.19 0% Div 21 Financing $ $ 0% Construction $ 350,000 $ 2,778 $ 2.68 2% SOURCES Loan Fees (1%) SOURCES USES Mezz Fees (1%) $ $ 714 $ 0.69 1% SalesLoan Revenue (year 5 sale) $ 90,000 58,333,021 DivEx 22 Insurance $ 635 $ 0.61 1% c eTitle ss Ca sh Flow $ 80,000 3,507,$065 Div 23 Insurance $ $ 0% Construction Loan (75% LTC) $ 34,623,180 General Liability $ 300,000 $ 2,381 $ 2.30 2% Mezz Loan (20% LT C) $ 9,232,848 Builder's Risk $ 120,000 $ 952 $ 0.92 1% Investor/Developer Equity $ 2,308,212 Workers Comp $ 45,000 $ 357 $ 0.34 0% Div 24 Municipal Fees $ $ 0% USES Fees Permit $ 600,000 $ 4,762 $ 4.59 4% ProjeEstate c t CosTaxes ts $ 1,190 (46,16$ 4,2401.15 ) Real $ 150,000 $ 1% PaybacFees k Const ruc t ion Loan $ (379 4,62$ 3,1800.08 ) Zoning $ 10,000 $ 0% DivPa 26 $ 0% ybSurveys ac k Mez+z QC LoaTesting n $ -(9,23$ 2,848)Surveying $ 15,000 $ 0% Paybac k Mezz Loan $ 119 (8,99$ 1,1570.11 ) Surveying Condo $ 50,000 $ 0% Paybac k E quit y Survey $ 397 (2,30$ 8,2120.38 ) Concrete 50,000 $ 0% Dist ribut iTesting on t o Invest or (50%) $ $ 397 (3,34$ 2,3440.38 ) Caisson Testing $ 45,000 $ 357 $ 0.34 0% Dist ribut ion t o Developer (50% ) $ (3,342,344) hard Geotechnical Testing 64% $ cost25,000 $ 198 $ 0.19 0% $ 108,004,325 $ (108,004,325) Environmental Testing $ 25,000 $ 198 $ 0.19 0% Div 27 Utilities $ $ 0% Elec and Gas during sales period $ 100,000 $ 794 $ 0.77 1% Div 28 Developer Fee (2%) $ 940,000 $ 7,460 $ 7.19 6% Div 29 Developer Overhead (2%) $ 940,000 $ 7,460 $ 7.19 6% Div 30 Construction Loan Interest (7 $ 5,831,000 $ 46,278 $ 44.62 39% Div 31 Soft Costs Contingency (5%) $ 1,450,000 $ 11,508 $ 11.10 10% Div 32 Hard Costs Contingency (5% $ 800,000 $ 6,349 $ 6.12 5% Total Soft Costs $ 15,120,240 $ 120,002 $ 115.70 100%
33% 4%
64%
64%
4%
land cost
33% 4%
be
hard cost
33%
soft cost
hard cost
soft cost
land cost
soft cost
land cost
HOTEL BUDGET: OVERALL COSTS
oan (20% LT C) or/Developer Equity
$ $
9,232,848 2,308,212
Total Per Hotel Unit $ 46,164,240 $ 366,383 $ 29,344,000 $ 232,889 $ ( 4 6 , 1 6 4 , 2 4 0 ) $ 1,700,000 $ 13,492 $ (34,623,$ 180) 120,002 $ 15,120,240
PROJECT COSTS HARD COSTS Cost s LAND COSTS k Const ruSOFT c t ionCOSTS Loan
k Mezz Loan k Mezz Loan k Equit y SOURCES + USES ut ion t o Invest or (50%) ut ion t o Developer (50%) SOURCES $ 108,004,325
$ (9,232,848) $ (8,991,157) $ (2,308,212) $ (3,342,344) $ (3,342,344) SOURCES $ (108,004,325)
®
CHICAGO ®
RESIDENCES
Myriad Pro
®
CHICAGO
®
®
®
CHICAGO
A HILTON PROPERTY
®
®
RESIDENCES
®
CHICAGO
RESIDENCES
A HILTON PROPERTY
®
CHICAGO
4%
RESIDENCES
CHICAGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
C H I C ACGHOI C A G O
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
Futura Md BT Medium
HOTEL BUDGET: OVERVIEW
CHICAGO
A HILTON PROPERTY
®
®
IS
®
land cost
64%
A HILTON PROPERTY
CHICAGO
Swiss 721 LtCn BT
soft cost
®
A HILTON PROPERTY
CHICAGO
®
33%
A HILTON PROPERTY
ISIS
®
hard cost
®
A HILTON PROPERTY
A HILTON PROPERTY
®
A HILTON PROPERTY
CHICAGO
CHICAGO
CHICAGO
ISIS IS
ISIS ISIS
®
CAGO $ C H I(46,164,240) $ (34,623,180) $ (9,232,848) John Smith $ (8,991,157) Possible nametag layout $ (2,308,212) CHICAGO John Smith $ (5,803,292) nametag layout $ Possible (5,803,292) Futura Md BT Medium CAGO $C H I112,926,221 $ (112,926,221) A HILTON PROPERTY
64%
ISIS
A HILTON PROPERTY
®
ISIS
RESIDENCES
RESIDENCES
®
ISIS
®
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
ISIS
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
® ®
A HILTON PROPERTY
®
®
ISIS
IS IS
®
A HILTON PROPERTY
®
®
A HILTON PROPERTY
USES Project Costs CHICAGO CHICAGO Payback Construction Loan Payback Mezz Loan C H I C A G O CHICAGO CHICAGO Payback Mezz Loan Payback Equity C H I C ACGHOI C A G O CHICAGO Distribution to Investor (50%) Distribution to Developer (50%) Swiss 721 LtCn BT Myriad Pro
ISIS ISIS IS IS ISIS
®
ISIS
CHICAGO
A HILTON PROPERTY
USES
62,456,882 4,305,099 34,623,180 9,232,848 2,308,212 CHICAGO
ISIS
IS IS
ISIS
®
$ $ $ $ CHICAGO $
ISIS
IS IS
Sales Revenue (year 4 sale) excess cash flow Construction Loan (75% LTC) Mezz Loan (20% LTC) Investor/Developer Equity
Per GSF % of Costs $ 353.26 100% $ 224.55 64% $ 13.01 4% $ 115.70 33%
$3,789,004
Investor Equity
(2%)
$15,156,017
Mezzanine Loan
(10%)
$56,835,064
Construction Loan
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
(52%)
Payback Mezzanine Loan
(10%)
$56,835,064
Payback Construction Loan
(36%)
$75,780,086
Project Costs
(48%)
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
CHICAGO
CHICAGO
$15,156,017
CHICAGO
ISIS
®
®
(2%) (2%) (2%)
®
CHICAGO
ISIS
IS IS
IS IS ISIS ISIS $82,812,931 Sales Revenue IS IS ISIS
®
Developer Profit (50%) Investor Profit (50%) Payback Equity
ISIS
CHICAGO
ISIS
ISIS
IS IS
ISIS
®
(36%)
$3,516,423 $3,516,423 $3,789,004
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
®
RESIDENCES
A HILTON PROPERTY
Swiss 721 LtCn BT
RESIDENCES
Futura Md BT Medium
CHICAGO ®
RESIDENCES
CHICAGO
CHICAGO
Myriad Pro
®
CHICAGO
CHICAGO
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
SOURCES & USES OVERVIEW
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
Futura Md BT Medium
Swiss 721 LtCn BT
A HILTON PROPERTY
CHICAGO
®
John Smith
Possible nametag layout
®
ISIS
®
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
®
®
CHICAGO
RESIDENCES
ISIS IS
ISIS ISIS
®
A HILTON PROPERTY
$158,593,017
Possible nametag layout
®
C H I C A GC HOI C A G O
RESIDENCES
®
®
John Smith
ISIS
C H I C ACGHOI C A G O
CHICAGO
®
®
CHICAGO
Myriad Pro
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
$158,593,017
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
2011
2011 Q1
Due Diligence Site Analysis Environmental Analysis Market Assessment
Q2
Q3
Q4
Q1
2011 Q2
Q3
Q4
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Municipal Approvals + Zoning Zoning Approval Permits Architecture + Engineering Schematic Design Design Development Contract Documents Construction Administration
CHICAGO
A HILTON PROPERTY
CHICAGO
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
CHICAGO
CHICAGO
ISIS
ISIS
®
ISIS
®
A HILTON PROPERTY
®
CHICAGO
®
ISIS
ISIS
CHICAGO A HILTON PROPERTY
ISIS ISIS IS IS ISIS
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
RESIDENCES
A HILTON PROPERTY
Swiss 721 LtCn BT ®
RESIDENCES
®
Futura Md BT Medium
CHICAGO ®
RESIDENCES
Myriad Pro
CHICAGO
®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
PROJECT SCHEDULE
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
Futura Md BT Medium
Swiss 721 LtCn BT
A HILTON PROPERTY
CHICAGO
®
CHICAGO
ISIS
®
John Smith
Possible nametag layout
®
ISIS IS
®
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
CHICAGO
RESIDENCES
CHICAGO
CHICAGO
®
A HILTON PROPERTY
Possible nametag layout
®
C H I C A GC HOI C A G O
RESIDENCES
®
®
John Smith
ISIS
C H I C ACGHOI C A G O
CHICAGO
®
®
CHICAGO
Myriad Pro
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
®
ISIS ISIS
Sales + Marketing Feasibility Marketing Pre-sales Sales Closings
®
CHICAGO
ISIS ISIS
Construction Budget Bid Final Bidding Demolition Construction Owner Fit-out
IS IS
ISIS IS IS
Land Acquisition Land Contract Close on Land
IS IS
Financing Project Budgets + Proformas Land Loan Construction Loan
360/NSF sales X 189 units =
76% annually ISIS
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
A HILTON PROPERTY
CHICAGO
CHICAGO
ISIS
ISIS
CHICAGO
263 ADR
®
CHICAGO
®
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
® ®
®
CHICAGO
C H I C ACGHOI C A G O
RESIDENCES
A HILTON PROPERTY
Myriad Pro
®
Swiss 721 LtCn BT
RESIDENCES
®
Futura Md BT Medium
CHICAGO ®
RESIDENCES
Myriad Pro
®
John Smith
cost
sale
CHICAGO
CHICAGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
SALES INCOME DIAGRAMS
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
$/GSF
A HILTON PROPERTY
CHICAGO
®
market value at sale in 2018
$/GSF
Possible nametag layout
®
ISIS
®
A HILTON PROPERTY
353
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
CHICAGO
RESIDENCES
CHICAGO
CHICAGO
®
A HILTON PROPERTY
®
477
NOI: $2,810,560 CAP: 4.5%
$62,456,882
Possible nametag layout
®
ISIS IS
ISIS ISIS
®
®
C H I C A GC HOI C A G O
RESIDENCES
CHICAGO
®
®
ISIS
sale
®
A HILTON PROPERTY
John Smith
ISIS ISIS
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
$/GSF
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
cost
®
A HILTON PROPERTY
®
CHICAGO
ISIS ISIS
$/GSF
A HILTON PROPERTY
ISIS ISIS IS224 IS ISIS
IS IS
210
CHICAGO
ISIS
(not including C H I C parking) AGO
IS IS
®
ISIS
IS IS
$72,293,760 ISIS
Q1 Q2 2011
Q1 Q2 2012
Q3
A HILTON PROPERTY
Q4
Q1 Q2 2014
Q3
Q4
sources
Q4
Q1 Q2 2014
Q3
Q4
uses
CHICAGO
A HILTON PROPERTY
®
®
CHICAGO A HILTON PROPERTY
ISIS
A HILTON PROPERTY
CHICAGO
Q3
A HILTON PROPERTY
CHICAGO
Q4
®
CHICAGO
Q1 Q2 2013
ISIS
CHICAGO
®
®
®
Q3
ISIS
ISIS ISIS IS IS ISIS
CHICAGO
Q1 Q2 2013
ISIS
®
Q4
ISIS
ISIS
Q3
Q3 C H I CQ4 Q2 A G O Q1 2012
IS IS
IS IS
2011
Q2
Q4
ISIS
IS IS Q1
Q3
CHICAGO A HILTON PROPERTY
A HILTON PROPERTY
®
RESIDENCES
A HILTON PROPERTY
®
RESIDENCES
Myriad Pro
®
®
RESIDENCES
composite
Q4
CHICAGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
C H I C ACGHOI C A G O
CHICAGO
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
®
®
CHICAGO
CHICAGO
RESIDENCES
®
Futura Md BT Medium
PROFORMA OVERVIEW
CHICAGO
A HILTON PROPERTY
®
®
IS
Swiss 721 LtCn BT
Possible nametag layout
A HILTON PROPERTY
CHICAGO
®
John Smith
RESIDENCES
ISIS
®
Q3
®
ISIS IS
®
A HILTON PROPERTY
Md BT Medium Q1FuturaQ2 Q3 Q4 Q1 Q2 CHICAGO C H I C A2014 GO 2013
A HILTON PROPERTY
A HILTON PROPERTY
®
CHICAGO
RESIDENCES
CHICAGO
CHICAGO
®
A HILTON PROPERTY
Possible nametag layout
®
C H I C A GC HOI C A G O
RESIDENCES
®
®
John Smith
ISIS
C H I C ACGHOI C A G O
Q3 Myriad Q4Pro Q1 Q2Swiss 721 Q3LtCn BT Q4 C H I C A G O 2012 ®
A HILTON PROPERTY
ISIS ISIS
®
CHICAGO
ISIS ISIS
Q1 Q2 2011
®
CHICAGO
A HILTON PROPERTY
A HILTON PROPERTY
®
ISIS
CHICAGO
CHICAGO A HILTON PROPEC R T YH I C A G O
®
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
® ®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
ISIS ISIS
®
be
CONDO UNIT MIX
HOTEL KEY COUNT TYPICAL FLOOR TOTAL AREA 2238 SF 2238 SF 2682 SF 3552 SF 2874 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 2238 SF 3060 SF 3564 SF HICAGO 2238C SF 2238 SF 2238 SF 2196 SF 51498 SF
AREA 22770 22900 20560 19400 15940 15800 117370
SF SF SF SF SF SF SF
QTY. 21 21 21 21 21 21 126 UNITS
®
06 MECHANICAL LEVEL 36
A HILTON PROPERTY
®
A HILTON PROPERTY
ISIS
ISIS
A HILTON PROPERTY
ISIS
ISIS ISIS IS IS ISIS
21 FLOORS
A HILTON PROPERTY
®
®
10900 SF
®
A HILTON PROPERTY
®
1 FLOOR
ISIS
®
ISIS
ISIS
A HILTON PROPERTY
A HILTON PROPERTY
® ®
®
A HILTON PROPERTY
®
Swiss 721 LtCn BT CHICAGO ®
RESIDENCES
A HILTON PROPERTY
RESIDENCES
®
Futura Md BT Medium
CHICAGO ®
RESIDENCES
Myriad Pro
CHICAGO
CHICAGO
Futura Md BT Medium
Swiss 721 LtCn BT ®
®
CHICAGO
C H I C ACGHOI C A G O
RESIDENCES
A HILTON PROPERTY
RESIDENCES
A HILTON PROPERTY
SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF SF
12390 12390 12390 12390 12390 12390 74340
SF SF SF SF SF SF SF
SF SF SF SF SF SF SF
12390 12390 12390 12390 12390 12390 74340
SF SF SF SF SF SF SF
04 HOTEL LEVEL 14 LEVEL 13 LEVEL 12 LEVEL 11 LEVEL 10 LEVEL 9 TOTAL HOTEL
6 FLOORS
03 AMENITIES LEVEL 8 LEVEL 7 TOTAL AMENITIES
2 FLOORS
02 PARKING LEVEL 6 LEVEL 5 LEVEL 4 LEVEL 3 LEVEL 2 TOTAL PARKING
5 FLOORS
01 LOBBY/RETAIL LEVEL 1
1 FLOOR
GSF
36 TOTAL FLOORS
11000 SF 14830 SF 25830 SF
22830 22830 22830 21575 21575 111640
SF SF SF SF SF SF
22740 SF
505640 SF
®
®
CHICAGO
CHICAGO
RESIDENCES
®
04 HOTEL 6 FLOORS John Smith LEVEL 14 LEVEL 13 Possible nametag layout LEVEL 12 LEVEL 11 LEVEL 10 LEVEL 9 TOTAL HOTEL
Futura Md BT Medium
A HILTON PROPERTY
®
03 AMENITIES C H I C8A G O LEVEL LEVEL 7 ® TOTAL AMENITIES
IS
Swiss 721 LtCn BT
®
A HILTON PROPERTY
CHICAGO
®
A HILTON PROPERTY
12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 12390 260190
12390 12390 12390 12390 12390 12390 260190
®
ISIS
®
58% 26% CHICAGO 15%
RESIDENCES
A HILTON PROPERTY
A HILTON PROPERTY
®
®
C H I C A GC HOI C A G O
CHICAGO
CHICAGO
®
®
ISIS IS
ISIS ISIS
®
®
ISIS
Myriad Pro
®
A HILTON PROPERTY
ISIS ISIS
1 BEDROOM 2 BEDROOM KEYS C H I C ACGHOI C A G O CHICAGO 3 BEDROOM RESIDENCES RESIDENCES ®
126
A HILTON PROPERTY
®
ISIS
A HILTON PROPERTY
A HILTON PROPERTY
TOTAL RENTABLE AREA
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS IS
ISIS ISIS
®
ISIS ISIS ISIS ISIS ISIS ISIS ISIS I
KEYS/FLOOR TOTAL HOTEL FLOORS
51498 SF
GSF CALCS
05 CONDO LEVEL 35 LEVEL 34 LEVEL 33 LEVEL 32 2 BEDROOM LEVEL 31 UNIT NUM. AREA QTY. LEVEL 30 UNIT 1 29740 SF 21 LEVEL 29 UNIT 2 23200 SF 21 LEVEL 28 52940 SF 42 UNITS LEVEL 27 LEVEL 26 3 BEDROOMC H I C A G O LEVEL 25 C H I C A GQTY. O UNIT NUM. AREA C H I C A G O LEVEL 24 UNIT 7 30500 SF 21 LEVEL 23 30500 SF 21 UNITS LEVEL 22 CHICAGO LEVEL 21 CHICAGO LEVEL C H I C20 AGO CHICAGO TOTAL SALEABLE AREA QTY. CHICAGO LEVEL 19 LEVEL 18 21 200810 SF 189 UNITS LEVEL 17 6 C H I C A G O LEVEL 16 CHICAGO CHICAGO John Smith CHICAGO LEVEL 15 TOTALlayout CONDO Possible nametag
IS IS
IS IS
1 BEDROOM UNIT NUM. UNIT 3 UNIT 4 UNIT 5 UNIT 6 UNIT 8 UNIT 9
ISIS
ROOM AREA 373 SF 373 SF 447 SF 592 SF 479 SF 373 SF 373 SF 373 SF 373 SF 373 SF 373 SF 373 SF 373 SF 373 SF 373 SF 510 SF 594 SF 373 SF 373 SF 373 SF 366 SF 8583 SF
IS IS
ROOM # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
LEVEL 20 LEVEL 19 LEVEL 18 LEVEL 17 LEVEL 16 LEVEL 15 TOTAL CONDO
2 FLOORS 11000 SF 14830 SF 25830 SF
APPENDIX: PROJECT DATA
A HILTON PROPERTY
®
CHICAGO A HILTON PROPERTY
®
ISIS
CHICAGO
ISIS
CHICAGO
ISIS
IS IS IS IS
ISIS
®
CHICAGO A HILTON PROPERTY
ISIS
®
CHICAGO
A HILTON PROPERTY
®
CHICAGO RESIDENCES
Myriad Pro
A HILTON PROPERTY
CHICAGO
RESIDENCES
Swiss 721 LtCn BT ®
CHICAGO
A HILTON PROPERTY
®
CHICAGO
IIT COA ARCH 563 Prof. Thomas Roszak CHICAGO ®
be
John Smith
Possible nametag layout
RESIDENCES
Futura Md BT Medium
Isida Karpuzi Dave Pollard Matt CTroia HICAGO Jacki Twardowski ®
A HILTON PROPERTY
®
CHICAGO
®
ISIS
®
CHICAGO
A HILTON PROPERTY
ISIS ISI
CHICAGO
®
ISIS ISIS
ISIS ISI
®
A HILTON PROPERTY
CHICAGO
®
ISIS
A HILTON PROPERTY
CHICAGO
®
ISIS ISIS
CHICAGO
®
ISIS ISIS
ISIS ISIS
®
CHICAGO