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HISTORY
63rd Street & Halsted Street
S
I
T
E
I
N
T
R
O
D
U
C
T
I
O
N
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
S
I
T
E
I
N
T
R
O
D
U
C
T
I
O
N
S.MorganSt.
S.HalstedSt.
W. 61st St.
W. 63rd St.
SSangamonSt.
S.PeoriaSt.
West 64th St.
S.GreenSt.
W. 63rd St.
S.PeoriaSt.
S.SangamonSt. W. 65th St.
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
N
E
I
G
H
B
O
R
H
O
O
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
DEMOGRAPHICS
0.00%
5.00%
10.00%
15.00%
20.00%
0-4 5-9 10-
14
15-
24
25-
34
35-
44
45-
54
55-
64
65-
74
75-
84
85+
Population (Age)
-0.50%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
2015 - 2020Trend Estimates
Englewood Illinois United States
44%
15%
13%
12%
8%
4%4%
Household Income
<$15,000
$15,000 -
$24,999
$25,000 -
$34,999
$35,000 -
$49,999
$50,000 -
$74,999
Population: 29,664
Median Age: 31.9
Median Income: $18,336
N
E
I
G
H
B
O
R
H
O
O
D
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
E
I
G
H
B
O
R
H
O
O
D
RETAIL DEMAND
N
E
I
G
H
B
O
R
H
O
O
D
$ 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
MAJOR
EMPLOYERS
N
E
I
G
H
B
O
R
H
O
O
D
VACANCY
N
E
I
G
H
B
O
R
H
O
O
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
Community Speaks
N
E
I
G
H
B
O
R
H
O
O
D
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
S
W
O
T
A
N
A
L
Y
S
I
S
strengths
opportunities
weaknesses
threats
Kennedy King College
Public Transportation & Accessibility
Engaged Community Organizations
Crime
Population Decline/Density
Development Site Limitations
Vacant Lots
Englewood
Reputation
Traditional Financing
Culinary / Health Synergy
Increased TIF/Revenue
TOD Development
Community Support
Englewood Square
Vision
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
E
N
G
L
E
W
O
O
D’
S
L
O
S
S
IMAGE/REPUTATION
CONSUMER $
POPULATION
INVESTOR INTEREST
JOBS
E
N
G
L
E
W
O
O
D’
S
G
A
I
N
V
I
S
I
O
N
S
I
T
E
P
L
A
N
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
380 35
S
I
T
E
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
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
I
T
E
A
380 35
275
S
I
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
380 35
275
S
I
T
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
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
S
I
T
E
C
JOB CREATION
253 36
REVENUE
ANNUAL WAGE IMPACT
$1,050,000
ANNUAL SALES
$3,630,000
ANNUAL SALES TAX
$70,000
S
I
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
380
OPPORTUNITIES
S
I
T
E
P
L
A
N
S
Local Artist
Rahmaan Statik &
Englewood Safety Network
Local Artist
Murals
Security
Collaboration
S
I
T
E
P
L
A
N
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
S
I
T
E
P
L
A
N
S
Pop – Up Parks
Pedestrian Connection
Vacant Lot Treatment
Sustainable Features
ASSUMPTIONS
F
E
A
S
I
B
I
L
I
T
Y
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%
DEVELOPMENT COSTS
F
E
A
S
I
B
I
L
I
T
Y
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$
TIMELINE &
PHASING STRATEGY
F
E
A
S
I
B
I
L
I
T
Y
PHASE I PHASE II(a) PHASE II(b)
THE FUTURE
Englewood Junction will deliver:
• Goods and Services Tied to Local Demand
• Jobs
• Increased Tax Revenues
• Attractive, Community-sensitive Development
QUESTIONS?

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HEEF Competition Template 2016 FINAL (2)

  • 1.
  • 2. HISTORY 63rd Street & Halsted Street S I T E I N T R O D U C T I O N 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
  • 3. S I T E I N T R O D U C T I O N S.MorganSt. S.HalstedSt. W. 61st St. W. 63rd St. SSangamonSt. S.PeoriaSt. West 64th St. S.GreenSt. W. 63rd St. S.PeoriaSt. S.SangamonSt. W. 65th St.
  • 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 N E I G H B O R H O O 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
  • 5. DEMOGRAPHICS 0.00% 5.00% 10.00% 15.00% 20.00% 0-4 5-9 10- 14 15- 24 25- 34 35- 44 45- 54 55- 64 65- 74 75- 84 85+ Population (Age) -0.50% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 2015 - 2020Trend Estimates Englewood Illinois United States 44% 15% 13% 12% 8% 4%4% Household Income <$15,000 $15,000 - $24,999 $25,000 - $34,999 $35,000 - $49,999 $50,000 - $74,999 Population: 29,664 Median Age: 31.9 Median Income: $18,336 N E I G H B O R H O O D
  • 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 E I G H B O R H O O D
  • 7. RETAIL DEMAND N E I G H B O R H O O D $ 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 N E I G H B O R H O O 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 N E I G H B O R H O O D 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
  • 11. S W O T A N A L Y S I S strengths opportunities weaknesses threats Kennedy King College Public Transportation & Accessibility Engaged Community Organizations Crime Population Decline/Density Development Site Limitations Vacant Lots Englewood Reputation Traditional Financing Culinary / Health Synergy Increased TIF/Revenue TOD Development Community Support Englewood Square
  • 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 E N G L E W O O D’ S L O S S IMAGE/REPUTATION CONSUMER $ POPULATION INVESTOR INTEREST JOBS E N G L E W O O D’ S G A I N V I S I O N
  • 14. S I T E P L A N 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 S I T E 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 I T E A
  • 17. 380 35 275 S I 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 S I T 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 S I T E C JOB CREATION 253 36 REVENUE ANNUAL WAGE IMPACT $1,050,000 ANNUAL SALES $3,630,000 ANNUAL SALES TAX $70,000
  • 20. S I 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
  • 21. 380 OPPORTUNITIES S I T E P L A N S Local Artist Rahmaan Statik & Englewood Safety Network Local Artist Murals Security Collaboration
  • 22. S I T E P L A N 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
  • 23. S I T E P L A N S Pop – Up Parks Pedestrian Connection Vacant Lot Treatment Sustainable Features
  • 24. ASSUMPTIONS F E A S I B I L I T Y 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 F E A S I B I L I T Y 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