2. HISTORY
63rd Street & Halsted Street
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1870’s
Post-Chicago Fire Growth
1960’s
City Undertakes “Urban Renewal”
1980’s
Re-Opened Streets Triggers
Brief Resurgence
Today
Englewood Junction
1850’s
Area known as Junction Grove
1940’s
Population Peak at 90,000
2000’s
Population 40,000; City Invests Again
1970’s
Mall Fails - Sears & Wieboldt’s Close
4. S.MorganSt.
S.HalstedSt.
W. 61st St.
SSat.
S.Peoria
West 64th St.
S.GreenSt.
W. 63rd St.
S.PeoriaSt.
S.SangamonSt.
W. 65th St.
POPULATION & RIDERSHIP
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H
B
O
R
H
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D
KKC
9,532
ENGLEWOOD
~30,000
GREEN LINE 680
RED LINE 5,868
63RD 3,032
HALSTED 1,769
63RD 21,864
HALSTED 41,968
6. HEALTH CARE &
MEDICAL DEMAND
Within 1 Mile :
● 35% of the population filled
prescriptions at a
drugstore/pharmacy in 2015
● 10,000 adults age 50 and older
● 6 senior housing facilities
In Illinois:
● 11% uninsured rate (-4.5% from 2013)
● 475,003 Illinoisans have gained Medicaid or
CHIP coverage
● $554,195,224 Medicare prescription drug
savings
N
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H
B
O
R
H
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O
D
7. RETAIL DEMAND
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H
B
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$ 8.5M in demand for full-
service restaurants within
1 mile of the site.
$0 $4 $8 $12 $16 $20
Bldg Materials, Garden
Equip, Supply
Stores, Lawn, Florists
Full-Service Restaurants
Millions
Demand Supply
9. VACANCY
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B
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D
Incentives to re-build:
• Population density growth
• Retail density near transit stations
• Public Investments to improve the
pedestrian experience
Vacant Land Map (1 Mile Radius)
Masonic Temple, 64th & Green St
City of Chicago promotes $1 Program to sell vacant lots to residents
10. Community Speaks
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B
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High Demand:
● Healthy sit-down Restaurants
● Physical Therapy
● Building Materials
● Garden equipment & supply
stores
● Dry cleaning
● Video Games
Construction and healthcare
industries are growing
The aging population demographic
draws the demand for health and
personal care stores
13. Vision
GOALS FOR ENGLEWOOD:
• Improve the Vitality, Reputation and Self-
image
• Employ Locally-focused Strategies with Long-
term Effects
OBJECTIVES:
• Make 63rd/Halsted a major focal point of
improvement efforts
• Create local options for satisfying demand for
goods and services
• Emphasize synergistic effects in re-
development efforts
• Create job opportunities and tax revenues
• Ensure that all improvement efforts are
socially and environmentally responsible
IMAGE / REPUTATION
CONSUMER $
POPULATION
INVESTOR INTEREST
JOBS
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E
W
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D’
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S
IMAGE/REPUTATION
CONSUMER $
POPULATION
INVESTOR INTEREST
JOBS
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L
E
W
O
O
D’
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A
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14. S
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P
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DEVELOPMENT
SF
SITE A: 21,400 SF
SITE B: 19,000 SF
SITE C: 18,900 SF
REVENUE
ANNUAL WAGE IMPACT
$2,550,000
ANNUAL SALES
$20,870,000
ANNUAL SALES TAX
$1,730,000
JOB CREATION
908 121
15. 380 35
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A
RETAIL CENTER
21,400 SF
CVS 13,000 SF
ATHLETICO 4,200 SF
ANYTIME 4,200 SF
FITNESS
PARKING: 86
~ 4 : 1,000
REVENUE
ANNUAL WAGE IMPACT
$740,000
ANNUAL SALES
$13,340,000
ANNUAL SALES TAX
$1,280,000
JOB CREATION
380 35
16. RETAIL CENTER
21,400 SF
CVS 13,000 SF
ATHLETICO 4,200 SF
ANYTIME 4,200 SF
FITNESS
PARKING: 86
~ 4 : 1,000
380 35 REVENUE
ANNUAL WAGE IMPACT
$740,000
ANNUAL SALES
$13,340,000
ANNUAL SALES TAX
$1,280,000
JOB CREATION
380 35
S
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E
A
17. 380 35
275
S
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T
E
B
GREEN ST. STATION
+ COMMERCIAL
KITCHEN
19,000 SF
RESTAURANT 4,500 SF
HYDRO. FARM 4,500 SF
KITCHEN 10,000 SF
PARKING: 62
REVENUE
ANNUAL WAGE IMPACT
$1,050,000
ANNUAL SALES
$3,630,000
ANNUAL SALES TAX
$70,000
JOB CREATION
275 50
18. 380 35
275
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E
B
JOB CREATION
275 50
REVENUE
ANNUAL WAGE IMPACT
$1,050,000
ANNUAL SALES
$3,630,000
ANNUAL SALES TAX
$70,000
GREEN ST. STATION
+ COMMERCIAL
KITCHEN
19,000 SF
RESTAURANT 4,500 SF
HYDRO. FARM 4,500 SF
KITCHEN 10,000 SF
PARKING: 62
19. RETAIL CENTER
18,900 SF
ACE 9,900 SF
WORK N GEAR 4,500 SF
GAMESTOP 1,000 SF
CLEANERS 3,500 SF
PARKING: 75
4 : 1,000
380 35
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C
JOB CREATION
253 36
REVENUE
ANNUAL WAGE IMPACT
$1,050,000
ANNUAL SALES
$3,630,000
ANNUAL SALES TAX
$70,000
20. S
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T
E
C
RETAIL CENTER
18,900 SF
ACE 9,900 SF
WORK N GEAR 4,500 SF
GAMESTOP 1,000 SF
CLEANERS 3,500 SF
PARKING: 75
4 : 1,000
JOB CREATION
253 36
REVENUE
ANNUAL WAGE IMPACT
$1,050,000
ANNUAL SALES
$3,630,000
ANNUAL SALES TAX
$70,000
22. S
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P
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S
Matthew Hoffman
69th & Green
St, Englewood
Yorkshire
Sculpture
Park
Papa Johns Park
De Moines, IA
SITE B
Bernie Mac
Community Garden
Garden &
Outdoor Dinning
Outdoor Event
Space
St. Louis Metro Market
24. ASSUMPTIONS
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PROJECT SOURCES TOTAL $ % PROJECT USES TOTAL $ %
Construction Loan 8,229,629$ 69% Land Acquisition 5,383,122$ 45%
TIF- Contribution -$ 0% Development (Hard & Soft Costs) 5,702,738$ 48%
Historic Tax Credits (Firehouse) 123,250$ 1% Interest Expense 164,123$ 1%
($.85 to the dollar) - Leasing Commissions 506,629$ 4%
Sale of CVS Ground Lease 445,035$ 4% Tenant Contributions 185,584$ 2%
Equity 3,144,283$ 26%
0%
TOTAL SOURCES 11,942,197$ 100% TOTAL USES 11,942,197$ 100%
Project with NO Incentives Project With Incentives
Development Budget 11,942,197$ 11,818,947$
Stabilized NOI (All Phases Year 3) 722,599$ 826,724$
Return on Cost 6.05% 6.99%
Construction
Loan
38%
Historic Tax
Credits
(Firehouse)
1%Sale of CVS
Ground Lease
4%
Equity
57%
Sources
Unleveraged IRR 9.00%
Leveraged IRR 11.21%
25. DEVELOPMENT COSTS
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Phase I - Site A Phase 2a- Site B Phase 2b - Site C Total All Phases
Land Costs 1,919,980$ 1,767,458$ 1,695,684$ 5,383,122$
Hard Costs 906,000$ 1,950,000$ 2,090,000$ 4,946,000$
Soft Costs 15.0% 135,900$ 292,500$ 313,500$ 741,900$
Tenant Contributions 70,112$ 57,120$ 58,352$ 185,584$
-$
Leasing Commissions 100,854$ 177,739$ 228,037$ 506,629$
-$
Contigency 0.3% 2,718$ 5,850$ 6,270$ 14,838$
Total Development Costs 3,135,564$ 4,250,668$ 4,391,842$ 11,778,074$
add: Interest Expense 11,942,197$
27. THE FUTURE
Englewood Junction will deliver:
• Goods and Services Tied to Local Demand
• Jobs
• Increased Tax Revenues
• Attractive, Community-sensitive Development