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    A proposal for the redevelopment of three parcels at the corner of First Ave. and Lake St.

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    A proposal for the redevelopment of three parcels at the corner of First Ave. and Lake St.

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    555 views45 pages

    Xsite - First and Lake Proposal Presentation

    Uploaded by

    MichaelRomain
    A proposal for the redevelopment of three parcels at the corner of First Ave. and Lake St.

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 45
    Village of _@ _MAYWOOD i Pry) yi 40 MADISON STREET+ MAYWOOD, ILLINOIS 60153 + (708) 450-4405 Community Development TO: Willie Norfleet Jr., Village Manager FROM: _ David Myers, Assistant Village Manager/Director of Community Development Angela Smith, Coordinator of Business Development DATE: December 19, 2017- BOT RE: Presentation from Xsite- 1 and Lake Project BACKGROUND: ‘The Village of Maywood has received interest for development of Village owned properties located at NW comer of I" and Lake, 224 N. 1* and 221 N. 1* Ave (Exhibit 1). Xsite is a development company that has successfully developed reail sites in Pontiac, Elmhurst, and Melrose Park. Xsite is currently interested in the purchase and exclusive right to market and ultimately develop the Village’s parcels along Lake St. and 1". Ave. FISCAL IMPACT: Returning the NW comer parcels to the tax rolls the approximate tax to the Village with a Class 8 abatement applied ‘would be $125,000.00 approximately. This tax estimation is based on neighboring like retail parcels. If parcels are developed as stated in the attached proposal the Village would also realize sales tax revenue in addition to property tax. Highest and Best Use: ‘The current surrounding zoning and land uses: North: R2-Resdential, South: Retail-C2, Fast: Retail-C2 and West: C2-Retail. Both the 2008 and 2014 Comprehensive plan calls for Retail Development of these parcels, the site has received numerous inquiries medical uses. The NW Comer of 1* and Lake is a prime location for a national tenant with high traffic counts on both 1" and Lake Street. Possible Next Steps: 1. Move to Executive Session to discuss project proposal 2, Direct Staff and Attomey to move forward on drafting RDA. Hear final presentation, review concept at January 2, 2018 Board Meeting. DEVELOPMENT PROPOSAL FOR THE REDEVELOPMENT OF THE SOLDIERS BLOCK IN MAYWOOD, ILLINOIS Maywood, IL Development Proposal Fall 2017 SITE ANALYSIS 3 Exhibit B - Site Plan (Preliminary) eraser {506 Mee oe sm 2 Ex Sow tag Pesrsvaacs orm ARCHITECTS © srs VILLAGE OF MAYWOOD DEVELOPMENT PROPOSAL FOR THE REDEVELOPMENT OF THE SOLDIERS BLOCK IN MAYWOOD, ILLINOIS REQUESTED BY: Maywood Equity Group LLC {a to be formed entity) October 2017 Page | 1 TABLE OF CONTENTS Goals & Objectives Developer's Qualifications & Personal Resumes Project Team Properties Developed References Local Municipalities Lenders Developer's Organization and Managerial Capablties Financial Resources Proposed Design of the Project Development Plan Time-table Proposed Financial Consideration & Structure of the Project Parcel A Project Cost Developer (Owner) Description, Organizational Structure & Company Appendix Exhibit A: Aerial & Parcels Exhibit B: Site Plan Exhibit C: Traffic Count Map Exhibit D: US Shopping Center Count & GLA by Center Type Exhibit E: US Shopping Center Count & GLA by Center Size Exhibit F: US Store Based & Non-store Retail Sales Exhibit G: Ilinois State Sales Tax Revenve from Shopping Centers Exhibit H:linols Impact Study Exhibit |: Village of Maywood 2010 Zoning Map Exhibit J: Demographic Report Exhibit K: Properties Developed Photos 6 18 18 Ww Page | 2 THE GOALS & OBJECTIVES Our goal is to redevelop the soldiers block properties consistent with Maywood's economic, historical and aesthetic aspect of the properties while meeting our development expectations. As the developer, we undersiand the significance of these properties to Maywood and as a Landlord share in these aspects including historical area. not only to the community but its increasing importance as a commercial, entertainment, and community-cultural destination for the residents that embodies a collective recognition of the history but at the same time an optimistic vision of the future. We wish to help create a viable, visually appealing, and financially successful mixed-use redevelopment that not only becomes part of but that enhances the commercial and cultural fabric of the Vilage. We wish to add a mix of retail, and office uses to complement the exciting projects underway in the Viliage and to reestablish the community for the future. DEVELOPER'S QUALIFICATIONS & PERSONAL RESUMES The ownership entity, a to be formed Ilinois Limited Liability Company, proposes to redevelop the Soldier's Block properties at the intersection of I Avenue and Lake Street in Maywood, Ilincis. The project willinciude developing porcels “A", “B" and "C" (Exhibit A). The developer has successfully developed similor or larger like projects. The ownership enfity includes the following individuals: William L. Paul, Partner William Paul operates a boutique full service commercial real estate firm including: sole principal of Xsite Real Estate, Inc. a 50% partner of Galena Development LLC and 50% partner of BX Management LLC. Mr, Paul has enjoyed over 30 years of experience specializing in retail commercial real estate. Having worked for CB Richard Ellis and the Staubach Company, two of the most respected national real estate brokerage companies in the United States, Mr. Paul has accumulated tremendous market and industry knowledge and relationships during his career. ‘Mr. Paul began his career at CB Richard Elis in 1980 as a retail sales and leasing specialist. After fen years with CB Richard Ellis, he joined the Staubach Company specializing in Retail Tenant Representation. Mr, Paul founded Xsite Real Estate, inc. in 1998, focusing its energies providing real estate site selection services for numerous retailers both national credit and "mom & pop". Xsite has represented numerous Tenants on a national, regional and local basis. Procuring sites for such companies as FuncoLand/GameStop, Second Swing Golf, Joann Fairics, Kaciory Card Outlei, Petcare Superstores, Petco, CD One Price Cleaners and ‘Shoe Show to name a few, opened the door to offer development services to meet the needs of certain clients. Today, Xsite stil offers site selection services to retail Tenants as well os development and construction services with related companies. Page | 3 Since 2006 Mr. Paul has developed several small shopping centers throughout Ilincis, most Walmart Supercenter Shadow Anchor centers. These centers range in size from 7,000 square feet to over 50,000 square feet. in adcifion, he has developed single tenant credit free-standing buildings. ‘Mr, Paul graduated with a B.S. Degree in Restaurant Management from the University of Wisconsin in 1977. in addition to being a licensed Real Estate Broker in the State of Ilinois, he is a member of the International Council of Shopping Centers. Brett L. Paul, Partner Bret! began his career at Xsite Real Estate, Inc. while in college, doing his intern program as on Urban Planning major. Brett became a ful-lime member of the firm after his graduation six years ago. He currently is a licensed broker in the brokerage division for Xsite ond handles all aspects of Retail Commercial Real Estate brokerage including Marketing, Leasing, Tenant Representation, and Tenant Prospecting, Landlord Representation, and Site selection. Brett is a principal in Galena Development LIC. Brett s involved in ail aspects of the company's business as well as being actively involved with all Xsite's clients including tenant representation. Breit is aso Involved with some of the companies leasing projects including Dixon, IL, Freeport, IL. Robinson, IL, Pontiac, IL, Streator, IL, Bridgeview, IL, Countryside, IL and Plattevile, Wi. Brett Is « principal in Pontiac, Countryside, Bridgeview, Freeport Ill and Platteville. Brett graduated in 2010 from the University of Illinois and is ¢ member of the Intemational Council of Shopping Centers (csc). Charles H. Walsh Jr., Partne: Managing Partner of Walsh Partners, a real estate and development company, established in 1986. This father and son porinership has developed apartment complexes, strip shopping malls, bank branches and townhomes. Mr. Walsh Jt. continues being responsible for all day-to-day management, leasing, accounting, and construction operations of the company's real estate portfolio. Present portfolio consists of 9 retail buildings/centers for a combined total of approximately 150,000 square feet and 3 apartment buildings, 142 units consisting of a total 280,000 square feet. In 1990, Walsh Partners was appointed Lead Developer by the City of Eimhurst. Responsibilities included initializing the planning, redevelopment and revitalization of the City’s central downtown tax increment financing (TIF) business district. In this capacity, the company was also given the responsibility for site selections of the Elmhurst Police Department Headquarters and the Elmhurst City Hail, the later which the company developed in 1992; receiving an architectural award for such an achievement. As earlier referenced, of the 12 properties curently in their portfolio. 3 of them were developed in the City of Elmhurst's central tax increment financing (TiF} business district: Elmhurst Place Apartments - 90 unit, 9 story luxury apartment building; Schiller Shops — 8,000 square foot retail “shell” in the downtown City of Elmhurst’s municipal parking deck; ‘and, Charlestown Place Apartments ~ 20 unit, 3 story luxury apartment building. In each Page | 4 instance, a public/private partnership was developed between Walsh Partners and the City of Elmhurst wherein TIF incentives where awarded to Walsh, for the three projects. in the aggregate total of approximately $ 1,300,000. This total TF amount value was primarily derived from the City of Elmhurst granting property (whether they were municipal or private properties owned) at zeto-dollar cost as welll as other incentives such 93 utilty relocation and landscape enhancements reimbursements. Due to these Investments made by Walsh Pariners, throughout the term of the TIF period, the City of Eimhusst realized a “return" on their invesiment of approximately $ 5,129,000, to date. A product of Elmhurst, Charles H. “Charlie” Walsh Jr. is a. consummate entrepreneur from the early days of his youth, ever focused on succeeding in everything that he sets out to accomplish. Words that can measure his drive-in business are “Some people dream of success, while others wake up and work hard at it." Upon. graduation from Elmhurst College, with a Bachelor of Science in Business Administration and @ Minor in Sociology, he was employed by The Balcor Company, located in Skokie, nals, There he took part in an extensive real estate executive training program. Such program included various aspects of real estate property management, development, markeling, sales, Partnership syndications and investment research, Subsequently, as an investment research analyst, he was responsible for financial, property and market analyses of over $250,000,000 in residential, retail commercial, and industrial real estate throughout the United States, In addition to his management of Walsh Partners, he is a memiber of the Village of Oak Brook Ad-Hoc Residential Enhancement Committee, since 2012; (this committee ‘appointment was by the Oak Brook Village President) and a member of York Woods Homeowners Association Architectural Committee, since 2014. Page | 5 PROJECT TEAM Owner: Developer: Architect: General Contractor: Marketing Company: Asset Management: Mortgage Broker: Investment Broker: Attomey (Land Contract 8 Zoning) Attorney (Leases): Attomey (Finance 8 Corporate): Civil Engineer: Environmental Consultant: Ato be formed LLC Galena Development LLC JTS Architects Riverside Construction Group, LLC Xsite Real Estate, Inc. BX Management LLC Charles H. Walsh Jr. Marcus & Milichap Timm & Garfinkel, LLC Becker, Gurian Brian Mulhern Attorey at Law Mackie Consultants, LLC MHEnvironmental, Inc. Geotechnical Consuitani: TBD Insurance: Nunzio & Associates Accounting: Daniel Toner & Associates Lender: Wheaten Bank & Trust - Wintrust Financial DEVELOPER: Galena Development LLC Galena Development, LLC, located in Bum Ridge, IL, is a commercial real estate development company whose primary objective is to develop commercial retail real estate in the Greater Chicagoland Metropolitan and Midwest Markets. GDP's product type is smal! multi-tenant or free-standing build-to-suit retail facilities in the $800,000 to $20,000,000 range. GDP will develop properties for their own account, for third parties on a fee basis or with equity partners. GDP's strength is ils company infrastructure, which is comprised of specialized individuals and affifiatea companies working as a team to develop quality retail properties. The principals of GDP include: William Paul and Brett Paul. Affiliated companies include: Xsite Real Estate, inc., Riverside Construction Group, LLC, and BX Management, LLC. Page | 6 Comigined experience in the real estate industry of the key personnel is more than 150 years. Their areas of specialization are in all ospects of commercial retail real estate, including market research and analysis, site selection and procurement, marketing, construction, and property management, WIP’s service is unparalleled in the industry. ‘Combine this experience with GDP's other relationships in key areas of development with ‘outside companies, such as legal, zoning, architectural, engineering, environmental, and municipal relationships and you will see that our team is second to none. GDP recognizes the importance of asset enhancement and develops properties with the highest standards to ensure the products of the highest quality. A “great site" developed in a quality manner will maintain the highest value. GDP also recognizes the need to create a retail property and environment in which our tenants will have the best opportunity to succeed. Our tenant's success is ultimately ‘ownerships success. This philosophy helps build sirong relationships with our tenanis. This company wide philosophy at GDP, along with the many years of combined experience in all phases of the Commercial Real Estate & Development Industry, means thot we understand what it takes to develop highly successful retail properties. ARCHITECT: JTS Architects, Mike Colombo JTS Architects was founded in 1982 by John T. Staub, AIA andis in Elk Grove Village, illinois. In 1988 Michael Colombo, AIA joined the firm, and is a partner in the firm. Previously, Mike worked together at OWP&P Architects, The Firm is efficiently sized fo handle large and small projects while providing personal service with direct Principal involvement. As a result, 80% of JTS’ clients are repeat business. The Firm's philosophy has always been to provide quality professional service with a commitment fo sensitive client-based design and problem solving. The firm provides services in architecture, land planning, site design, life safety evaluation, master planning, and facifty needs assessment. Our experience includes retail centers, office buildings, schools, medical office buildings, religious faclities, life care centers, restaurants, and housing. JTS is self-cerlified in the City of Chicago. GENERAL CONTRACTOR: Riverside Construction Group, LLC, Brian Sluiter Riverside Construction Group, LLC, located in Burr Ridge, IL, specializes in construction management and building for our third party commercial clients. Our expertise covers the tange from smaller single user bulld-to-suit facies and tenant build-out, to larger multitenant projects and land development. Combined, our professionals bring in over 57 years of experience in creating buildings, environments, infrasructure, and develooments os executives of such companies as Major Metropolitan: Homebuilder 2. Development Co., James Paul & Associates, and Royal LePage. L. James Paul is the manager of the company. Page | 7 With an emphasis on catering to the unique timing, design, and budgetary needs of retailers, over the years our professionals have worked with such national companies as Target, Rite Aid, Office Depot, Old Navy, TJ Maxx, Cleaners Depot, Bank One, Harris Bank, and FuncoLand, among others. Unlike many contractors, our approach is client driven versus simply project driven. in so doing we strive to be involved from the early stages with other development team members from entitlements, financing, site planning, design, material selection, architeciure, and ultimately with retail operations upon successful project delivery. MARKETING & LEASING: Xsite Real Estate, Brett Paul Xsite Real Estate, Inc., located in Burr Ridge, IL, is a commercial real estate brokerage ‘company specializing in retail properties. The scope of work performed by Xsite includes site selection, morket analysis, site procurement, lease negotiations, shopping center marketing, and retail tenant representation. William Paulis the sole principal of Xsite. Mr. Paul has enjoyed over 28 years of experience specializing in retail commercial real estate, Having worked for CB Richard Ellis and the Staubach Company, two of the most respected national real estate brokerage companies in the United States, Mr. Paul has accumulated tremendous market and industry knowledge and relationships during his career. Brett began his career at Xsite Reai Estate, Inc. while in college, deing his intern program for Urban Planning. Brett became a full-time member of the firm after his graduation, He currently is a licensed broker in the brokerage division for Xsite and handles ail aspects of Retail Commercial Real Estate brokerage including Marketing, Leasing, Tenant Representation, Tenant Prospecting, Landlord Representation, and Site selection. Brett ide involved in all aspects of he company's business as well as being actively involved with all Xsite's clients including tenant representation. Brett wil also be involved with some of the companies leasing projects including Dixon, Rochelle, Freeport, Robinson, Pontiac and Streator, IL. Brett graduated in 2010 from the University of llinois and is @ member of the intemationat Council of Shopping Centers fICsc). ASSET MANAGEMENT: BX Management LLC, Breit Paul & Bill Paul BX Management specializes in retail properties from small to large shopping centers to free-standing buildings. The goals to enhance the asset for the owner. BX has the unique ‘advantage of working closely with Xsite Real Estate and Riverside Construction Group to ‘address any leasing or construction issues all within house. BX has worked in urban, suburban as well as tertiary markets. BX specializes in Walmart Shadow Anchor centersin small and more remote towns many asset management companies won"! service, INVESTMENT BROKER: Marcus & Millichap, Phil Sambazis and Brandon Hanks Phil and Brandon lead an elite team of professionals that focus exclusively on investment sales for netleased investments and shopping centers throughout the United States, Page | 8 advising developers and institutions in both disposition and acauisition. During Phil's career, he has advised more than $1.5 billion in investment transactions in 40 states. Phil is a Senior Director of both the National Retail Group and the Net-Leased Properties Group at Markus & Milichap and has consistently ranked amongst the firms Top 30 agents nationwide and in the all-retail single-tenant product speciaities. An East Coast native, Phil grew up in Lawrence, New York. A graduate of Westminster School in Connecticut, Phil went on to earn his bachelor's degree from Hamilton College where he studied political science and economics. Phil was Capitan for the men’s Lacrosse team. ATTORNEY (LAND CONTRACT, ZONING): Timm & Garfinkel, LLC, Glenn Garfinkel Timm & Garfinkel, LLC is a law firm concentrating on alll aspects of commercial real estate law. They have extensive experience in real estate (including retail, office, and industrial) development, leasing, finance, acquisition, disposition, entitlements, and the related fields of corporate and general contract law. They provide transactional assistance on @ national basis with extensive experience in the art of assembling and developing real estate, as well as itis financing, leasing and disposition. Glenn Garfinkel was previously the Executive Vice President and General Counsel for Crown Theatres, LP., a prominent motion picture exhibitor with theatres located in the States of Connecticut, New York, Maryland, Florida, illinois, Minnesota and Nevada. Glenn began his legal career and went on to become a partner at Gould & Ratner, located in Chicago. His principal areas of concentration inckide commercial feal estate development and leasing, acquisitions and dispositions, construction, general contracts and business law. ATTORNEY (LEASES): Becker-Gurian, Marty Becker Becker Gutian provides superior legal services about sophisticated commercial real estate transactions. We pride ourselves on our ability to professionally and expeditiously handle every aspect of a real estate transaction. Becker Gurian has the attorneys, staff, resources, technological infrasiructure and desire fo provide the full service that our clients require and within the timeframe thet they expect. ATTORNEY (FINANCE & CORPORATE): Brian Mulhern, P.C, Brian Mulhern received a Bachelor of Ars degree from the University of Notre Dame in 1978 and his J.D. degree from Northwestem University Law School in 1981. After originally being with a small law firm in downtown Chicago, Brian has had a general transactional law practice located in his home town of Hinsdale, Ilinois since 1986, but is also "Of Counsel" with the Chicago law firm Anderson, Rasor & Partness, LLP. With more than 35 years of transactional legal experience, Brian's practice includes: (a) a broad variety of real estate matters (e.g. purchase/sale transactions; zoning and land use matters; new construction; commercial real estate leases); and (b) general Page | 9 business/corporate matters (e.g. establishing business entities, ongoing general representation of business entities and purchases/sales of businesses). in further real estate, related experience, Brian also spent ten years as a Member of the Village of Clarendon Hills (IL} Zoning Board of Appeals / Plan Commission, serving the last two years of that tenure as its Chairman. CIVIL ENGINEERS: Mackie Consultants, LLC, Martin Burke Mackie Consultants, LLC is a fuliservice consulting engineering firm pri range of civil engineering, surveying and construction services, from initial project Planning through design and construction; on all types of projects. We provide the foremost in customer service by understanding and meeting each client's specific needs, ENVIRONMENTAL CONSULTANT: MHEnvironmental, inc., Mark Elliott The Environmental Professional responsible for this report, Mark H. Eliott, has more than 35 years of experience in environmental consulting. Mr. Elliot has extensive experience in the characterization of all types of facilities inciuding the sampling and analysis of al types of sold, liquid, and semi-solid matrices. Environmental work conducied has involved extensive interfacing with vatious regulatory agenciesin Statesincluding, Ilinois, Wisconsin, Indiana, Michigan, Kentucky, Ohio, Missouri, Arizona, California, Oregon, Foride, Georgia, Massachusetts, Minnesots, North Carolina, Pennsylvania, South Carolina, South Dakota, Texas, and the Region V office of the United States Environmental Protection Agency. Mr. Eliott has extensive experience in the evaluation and interpretation of the various environmental regulations. In addition, he hos been involved in the design, installation development, and operation of RCRA groundwater monitoring networks under detection, compliance, and corrective action. Mr. Eliott has prepared and implemented work plans, specifications, and closure plans under RCRA, CERCLA and TSCA. Mr. Elliott hos also acted as an expert for private party cost recovery on major sites under the NCP. ‘Mr. Elliott has been involved in the decontamination of all types of matrices associated with whole ond parts of Industriai/commercial buildings and properties. Site cleanups have utilized RCRA, CERCLA, and TSCA standards. Mr. Eliott has utlized Risk Based Assessments under RCRA Corrective Action, CERCLA, and RBCA, ond various State standards including the IEPA 742standard. Mr. Eillott has conducted hundreds of Site Assessments. Mr. Elliott and has been Conducting Site Assessment since before the promulgation of the Superfund Amendments and Reauthorization Act (SARA) of 1986. Mr. Eliott has been involved at all Phases of property assessments including design, field investigation, and interpretation ‘and reporting of findings. on numerous sites of varying complexity. Projects have been ‘completed following standards as provided by various financial institutes, government ‘agencies, and ASTM. Page | 10 GEOTECHNICAL CONSULTANT: 18D INSURANCE: Nunzio & Associates, Inc. P.J. Nunzio & Associates, inc. is a full service general insurance provider located in Palos Heights. iL that has been doing business in the Chicago area since 1952, The Nunzio ‘agency underiites ail types of insurance including property, casualty, life and health, ACCOUNTING: Daniel Toner & Associates, Dan Toner LENDER: Wheaton Bank & Trust A member bank of Wintrust Financial which is @ holding company made up of 15 ‘chartered community banks, in Northem Illinois and Southern Wisconsin, with total assets worth $ 20 billion. Mr. Walsh Jr. has had a relationship with this financial institution and its Chairman for over 20 years, Page | 1) PROPERTIES DEVELOPED - GALENA DEVELOPMENT, LLC. (Photos see Exhibit K) Dixon, IL, Presidential Parkway Plaza: * Scope: Walmart Supercenter Shadow Anchor center comprised of three buildings and two-phase refai development in 2009 * Size: Total GLA 60,0004 © Cost: $9,500,000 Freeport, Il, Southgate Plaza * Scope: Walmart Supercenter Shadow Anchor center comprised of two buildings two phase retail development in 2012 & 2015 + Size: Total GLA 20,0004 '* Cost: $2,700,000 Rochelle, Il, Rochelle Plaza * Scope: Walmart Supercenter Shadow Anchor center comprised of one building development in 2013 ® Size: Total GLA 10,5004 * Cost: $2,200,000 Robinson, Il, Robinson Plaza + Scope: Walmart Supercenter Shadow Anchor center comprised of two buildings two phase retail development in 2015 and 2016 © Size: Total GLA 22,0004 Cost: $3,000,000 Pontiac, Il, Advanced Auto and Land + Scope: 6.6 acres land acquisition and a built-to-suit for Advanced Auto, developed in 2015. Approximately 5.5 acres available and proposed 8,000#+ commercial development and land to develop residential Size: Total GLA Advanced Auto 7,000 Cost: $1,450,000 Streator, I, Steator Commons (Planned) + Scope: Planned Walmart Supercenter Shadow Anchor center comprised of wo buildings retail development in 2017-2018 * Size: Total GLA 9,000#+ © Cost: $1,900,000 Pontiac, Il, Pontiac Plazas (Planned) + Scope: Planned retail sitip center next to Advance Auto to be developed in 2018 * Size: Total GLA 5,000¢ * Cost: $1,000,000 Page | 12 Pontiac, IL, Residential Duplex Development (Planned) * Scope: Planned 22-unit residential duplex development on approximately 5 acres of land behind the Advance Auto. To be developed in 2018 * Size: 11 buildings, 22 units + Cost: $4,000,000 PROPERTIES DEVELOPED - WALSH PARTNERS Elmhurst, il, Elmhurst Place Apartments + Scope: given muricipat land along with an adjacent private property to Consiruct a9 story, 90-unit iuxury apartments building, which began as the anchor project in 1991 for downtown Elmhurst's TIF disitict revitalization * Size: Total Square Footage 175,000# * Cost: $10,000,000 Elmhurst, I, Schiller Shops + Scope: given municipal land, within the newly constructed City of Elmhurst downtown parking deck to construct retail stores within the front shell of the parking deck in 1992 Size: Total Square Footage 8,004 Cost: $540,000 Elmhurst, IL Charlestown Place Apartments + Scope: given municipal land to construct a 3 story, 20-unit luxury apartments building, for downtown Elmhurst's TIF district revitalization * Size: Total Square Footage 45,0004 + Cost: $2,000,000 Elmhurst, It, Elmhurst City Hall * Scope: secured an option to purchase a privately-owned office building, in Downtown Elmhurst. Conveyed the option to the City in exchange for re- developing the office building into City Hall, Upon completion, the building received an architectural award. Size: Total Square Footage 30,0004 Cost: $3,000,000 Addison, IL, Chase Bank & Lake Mill Place * Scope: 2. acres of land acquisition for the built-to-suit Chase Bank and a separate 3 tenant retail building adjacent, to the bank in 2010. * Size: Totai Savare Footage 10,000#+ © Cost: $5,000,000 Page | 13 REFERENCES - Local Municipalities William & Brett Paul Dixon, iL, Mayor Liandro Arellano, Jr. (815) 288-1485 Freeport, IL, Mayor James Gitz, (815) 235-8200 Rochelle, IL Mayor Chet Olson, (815) 562-6161 Robinson, IL, Mayor Roger Pethtel, (618) 544-7616 Pontiac, IL, Mayor Robert T. Russell, (815) 844-5751 Streator, IL, Mayor, Jimmie Lansford, (815) 672-2517 Charles H. Walsh Jr. ‘Melrose Park, IL, Mayor Ronald Serpico (708) 344-4000 ‘Addison, IL. Mayor Rich Veersira, (630) 543-4100 ‘Addison, IL, Former Mayor Larry Hartwig, (630) 543-4100 ‘Addison, iL John Berley-Director of Community Development (630} 543-4100 REFERENCES - Lenders William & Brett Paul Holcomb State Bank, Bruce Seldal, (815) 562-3838 MB Financial, Stephen Gottesman, (847) 653-1038 Midland States Bank (formerly Centrue Bank), Gene A. Guidici, (815) 937-2817 First Midwest Bank, Jeffrey Burgoyne, (217) 477-6058 Central Bank, Neal Knauf, (815) 872-0018 Charles H. Walsh Jr. Wheaton Bank & Trust, Robert Pasczek, Chairman (630) 588-4072 Naperville Bank & Trust, John Koranda (630) 456-7860 ‘Chase Bank, Andrew Wallace (847) 239-8304 Chase Bank, Patrick Hennessy (312) 732-6370 DEVELOPER'S ORGANIZATION AND MANAGERIAL CAPABILITIES The combined experience, expertise and relationships of the partners should provide Maywood the comfort that this project will be built as promised and meet our mutual goals and objectives. As stated above, this project's organization and managerial capabilities will include: Developer: Galena Development LLC Leasing: Xsite Real Estate, Inc. eneral Contractor TBD Construction: Asset Management: BX Management LLC. Page | 14 FINANCIAL RESOURCES Sased on our proposed project struciure, the developer wil secure a loan through relationship lender who will provide the construction loan and permanent loan for the project. PROPOSED DESIGN OF THE PROJECT The developer is committed to build a quay, all brick structure to tie in the Georgian Revival design of the Soldiers building. We proposal an alll brick pylon sign to match and convey the building and quality of the project and Maywood. We pian to work with the city and our architect to mutually approve a design best suited for the project and the Village of Maywood. THE DEVELOPMENT PLAN The development plan includes a three-phase development based on leasing activity, To help insure the economic viability of the project, the developer plans to build or renovate as the market dictates. The initiol focus wil be the planning and leasing of parcel "A". However, the market will dictate which parcels be developed first based on demand. Should a single-tenant free-standing user, such as « fastfood restaurant want fo open on parcel "C", that parce! may be developed immediately if the timing is for immediate occupancy. We already have two fast-food restaurants whe have expressed interest in parcel “C" as a free-standing fast-food restaurant. Should a medical or office Use wish fo open in the Soldiers building on parcel "8". we would pursue that immediately. Our marketing program would allow flexibility to pursue any of the three parcels based on market and user demand. Parcel A Located at the northwest comer of I# Avenue [illinois Route 171] and Lake Street, this approximately 43,312 square foot (0.9943 acre} site is extremely visible with tremendous traffic Count (Exhibit C) and easy access. The buildings have been demolished and it is ‘assumed all uilities are to the site (property line). It isn't determined to date whether the site is environmentally "clean" however the developer would commission a Phase | environmental study to determine the situation regarding environment, The site is ‘currently zoned C-2 Pedestrian Oriented Commercial. Based on the site's characteristics, the developer believes this site’s “highest and best use" Is for a commercial retail use, or small stip center. We believe this site is ideally suited for a strip center ranging in size from 10,000 to 12,000 square feel. The tenant mix lends itself to retail Uses lke, restaurants, cellular, hair core, “med-tail” medical uses, certain services and other retail uses. The developer would seek input from the city as t0 various Fetail uses the city may be currently lacking. We would suggest retail uses who would generate higher sales to generate sales tax dollars to the community. Various retall uses by category for a convenience retail shopping center include the following: Page | 15 Category, User ‘Accounting 1,300 2,500 ‘Apparel - Farni 2,500 8,000 Apparel - Woman's Plus 2.500 8,000 Apparel - Women's 2.500 12,000 Aris & Crafts 3,000 20,000 Automotive 3,000 12,000 Banks & Financial 3,500 6,000 Bath & Body 1,500 3,000 Beauly Salon/Hair Care 1,300 2.500 Beauty Supplies 1,300 3,000 Books/Retigious Books 3,000 30,000 Card & Gitts 3.000 8,000 Seta 1306 37000 | Consumer finance 1,200 | 2.600 C-Stores 2.400 4.000 [Day spa | 4,300 5,000 | Dotiar store. 5,000 12,000 [by Cleaners 1.300 2.000 Bectronics 1.300 2.400 Financial Service 1,300 3.000 Fitness 1,300 3,000 Furniture 2,000 8.000 Games 1,600, 2.500 Health 1,200 3,000 Insurance 1.300. 3,000 Jewelry 1.300 3,000 | Legat . 1,300 3.000 ‘Mall Service/Packaging 1,300 3,000 Matiress 1,300 6,000 Mecical/Chiropractor 1.300 2.500 Medicol/Dent 1,300 2,500 Medical/family Practice 1,300, 2,500 Medical/Optometry 1,300 2,500 Medicol/Physical therapy 1,500 3.500 Page | 16 Medicai/Urgent Core 2,000 4,500 Nail Saion 1,300 2,500 Optical 1,300 4,000 Pay Day Loan 1,300 2,000 Pet Food & Supplies 1.300 8,000 Postal 1,300 3,000 Printing 1300 2,400 Realéstate: 1,300 2.500 Rental 3,000 8,000 2400 | __ 009 | RE 23500. | RESICETES 3300 31908 | | REST/SRABURTE 57350. 2005 | | Rest/Mexican 19300, 47000 | ; RESTS 13 1 | | RES/SETEAMEA, 06 |___ 8 | shoe 2,500 5,000 Tanning Salon 1,300 2.500 Video Caté 2,000 3,500 We've highlighted some of the possible uses we believe would have a high level of interest in this project. As mentioned above, the size of the building will be predicated on Uses and parking. Restaurant! uses, which we believe is a high priority for this project, will take up parking, so a consideration should be given to the fact If we secure two restaurants, we need to look at other retailers uses which won't have as much a need for parking. Aesthetically, this site is the gateway to the city and CBD. The developer feels a design ‘that will lend itself to quality and existing architecture would be most appropriate. Since the Old Soldiers Home is part of this overall redevelopment and its architecture is Georgian, the develop feels it's bes! to keep in a Georgian style, all masonry building. Parcel B Parcet B is located coniiguous north of parcel A and contains a two-story masonry bulding, The building sits on a lot which is approximately 20,105 square feet. The building 's very visible to 1# avenue and access is off Ohio street via an alley. Parking is in the rear of the building. Parking is an issue which will require more evaluation based on use. Page | 17 WALMART ANCHORED STRIP CENTER OBINSON, ILLINOIS Pontiac, IL Streator, IL Pontiac, IL Pontiac Plaza Pontiac, IL Tarey Jorn 1Adoe [20x70 1 2 rvaloble 1006 | 2K 3 _[pvotabe 13006 | 20k 4 (oreo! tps a =XS AEA IT! REALESTATE Concept Site Plan — ae MIDOLE SCHOOL errs Rochelle Plaza, Rochelle, IL ote | san. Wilmer Supercenter Outlot | ochele, 2 =| ote scale © Seeman Tratffe C Count’ Map Witiorth Avel 6a) 44500 — NWC 1* Ave, & Lake St Maywogg, IL Wiasten Plaza _ Exhibit. o tratnd oF a Elsie Dr Reien (« 2 3000 z Thomas $1 Dominican, 3 ts ABBODspaay wns! Nv any say>tedy a Pian 2 z 3 & ‘Welion St > = van cee AVE er Z an i 3 BUSINESS PAR” . * z 810024 3 a Oak St = oWwhToe 7 HOERITAGE a0, own oni 3 Si School St 6550 10800 3 800 ts 7700 z 8. Park Concordia Cemetery sonaey |g 3 orn z = zg z oe f Z Forest Home Cerne! guy XSITE - Cll REAL ESTATE hy SOUTH MAYWOOD 8 St ony Way S Exhibit D - US Shopping Center bch! and Gross eect Area by Center Type Exhibit E - US Shopping Center Count and Gross Leasable Area by Center Size roe nee um rms rua Exhibit F - Store Based and Non-Store Refail Sales Nonreery Spc Raa Sa ‘Apparel and Fotos Species ates ST ane rae ane Morenndere ‘verte ‘Wares ube Ieee Pre-Pay eters Nexon Ree onoRse2 aa = me onsaetar tam, wan on ser Heiaearare ee sag aton a ee = saat sven Pn a ae = == sii ost ema San Hoa laa eum man vase won rennin sauna aie sais manana sma ait ams mana sas san wit serie mm seasrnte sions coee sregeasnce sreraen 0108 sse02080 ‘Cowon Foe et ere ae Exhibit G - Illinois, State Sales Tax Revenue from Shopping Centers Illinois, State Sales Tax Revenue from Shopping Centers 8000 - ‘7000 | 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2018 2016 ove owe ‘Mnemonic TLUSILSCS 2015 2014 Descriptiontllino’s, State Sales Tax Revenue from 2013 ‘Shopping Centers, 2012 Unit of Measurement US$ Milions 2011 2010 Frequency Year 2008 12008 Adjustment NA 2007 2008 Geographic Region United States > State > Ilinois > TOTAL 2005 2004 Metric Concept Tax Revenue > State Sales Tax 2003 Revenue ftom Shopping Centers 2002 Documentation The Sales Tax Clearinghouse and ICSC 2001 Research 2000 Value 6729.18 6574.24 6385.43, e197.87 5919.37 5757.85 5560.43, 5508.85 5826.36 5870.7 5701.86 5419.38 5178.36 4989.01 4877.98 4719.55 4620.81 “umosy 960) pu sereySi19 RL S95 Bu oaing swag ‘7 SSNS oaeTJ0 Naina Sn shy guCULD3 Jo eaINg SN 9 uopENUDH) AYeoU seIgoQ seasNoS “Bp Abavenb agetene story ¢ ‘papneul a anuanos x ejes wouRioo8 eT “vobav0 pue avert amckueH wat ‘xeneIo "Rey Bum IU sap) vce JUD Budo peiseunl nuns Me eI & weo eS HOU ‘LOY ABBE ABCD "AEUAdO 5 > Kee : 69 %0'9 res wauikoxdwioun s Lus'ers se0'zss usioss ‘ewoueuosied endeo Jog =] moos wey 19 69905 We SFOs uloouy jaucsieg 2 ww Feze %Or mw gZ4 wu gp vuoweindog v 5 urs Hue 906'1s Uy o0¥ 1s ‘nwanes xe} Ayedaud sewwoo Burddous 2 wry 1498 19998 _onuanal x2} sayes eeys J6}U00 Bulddous £— A 8 coves ‘Sofes sao Burddous eydeo 10g e oh WZ ZO1S waza0s ° o ‘wre mre & xe ‘099'903 08e'zog (29of jo soquinu) woursojdwe soyueo Burd ' Ly : a ub (4s 0001 10d sqof sso) =x zu by on = ez - oz ez 2 . = o1e'sis ee ls 199° g 4 wage He Ww e962 wu se8z dy bs) sods oweo Buddous id ai eve Sn «Sloe en ‘9102, ‘saz s}ouL|] so areug Apmis joeduy siout)) Exhibit J - Demographic Report COMPLETE PROFILE (Based on a 1 Mile, 2, Mile, 3 Miles Radius & 10 Minute Drivetime) 2000-2010 Consus, 2017 Estimates wth 2022 Projects abut rg Woghed Bok Cento tom Bek Gove Maywood ste Real Estate Laon: 41.8668/-67 8344 401 IL-171 ney eT eed Tse MME) Population ' Estate Poplton 2047 t9200 somes tansy istns Projected Population (2022) 19322 87.505 194,887 rioge |B ‘Census Population (2010) 19,302 88,693 199,912 1,106,715, | ‘Census Population (2000) 20,358 92,005 (205,401 1,160,204 Proje Anil Gov 207-2022) 2 am ser om ass ow ste j Hatorcl Al ow (20102017) wo bse oie sor Helical Aral Gow 20202010) 408 25% 932 oh Bato ose 50489 05 Estate Popaton Det 7) Sisemm = T08Bnin Toran taboo | “ade Aes Seo Stat “tabu “sas tascam Treason | Entatd Hewett 2017 an ose wen senor Proce Hous 202) are sesee mee mare | Canes Hovehods 0) cate snes mace Sraase Canes Hoesrls 200) ate sar met sas | Projecto Amilo 20172022) me om oe? ae ewe ate 00 | trea Aaa Change 2002077 ae sin We Average Househod core I Estimated Average Househots income (2017) $93,748 $87,660 00.606 s74se2 | Projected Average Household income (2022) $112,562 $107,967, $111,163 $90,581 ‘Census Average Household Income (2010) $80,995 ‘$75.876 ‘$76,906 $63,108 ? Canes Avge Howe come 209) secre seosra, stom eeats | Projected Annuai Change (2017-2022) $18,604 40% $20.07 40% $21,507 48% $16,219 «amd § Historical Annual Change (2000-2017) $20,130 26% $21,288 19% — $22,733 20% © $17,859 1.94 F Median Household income i Esmascticmvomnareanegoin state rae ans we— | Prjeced Medan Hometime nee) —=««STEST == rast. «== genes: raed Canes Medan Hows nae 2010 ssrso esses, seams, ssnawg | Consus Median Househld Income (2000) 352557 $59,102 $54,239 some | Projected Annual Change (2017-2022) $8,910 26% $10077 30% $11,959 31% $9,876, p tetra Anal hang (0027 seo ion taste to Stra60 row Steen Per Capa incare ated Pr Coin nese 017) a Projected Per Conta come 222) sas” ase sect ua Canes Per Capa reo 10 some sane ase‘ e Census Per Capita Income (2000) $20,345 $24,734 $24,869 $18,859 Proje Amul Change 2017-2022) 7307 47% $0180 sam S521 Sox 8802 etre Anna hang (200207 sioses ym sass aoe feast 2m groan 2 Estnates Average HoeolsNet ech (2017) S585 118ssonass seese stn meee ‘Deny Suse Aedes O07, TER epg COMPLETE PROFILE 2000-2010 Census, 2017 Estimates with 2022 Projections Cocusted using Weighted Block Cantels ram Block Groups Maywood sito Real Estato LefLon: 41,8888/87 8344 ———— | em as | ons tee) aes ae) on ee eee im sa Sane ‘naan me calf Peper oa ie a “oo See neon sa eo 22 =a ‘Hawalian or Pacific Islander (2017) 3 . 2 . 54 440 | i ‘Two or More Races (2017) 457 24% 2320 26% B15 29% 318 2. i aban wv an woman seo an apm as a veld fei esr se sel 2 ce nae io =m ie, wel = wean at QE oe ae serge atns Popen on tome om shat ne taset mam Tar ead anid wm x Sa oe ‘nin ate Sa Soff roar an ance ae ne coven See nee en serene etc ‘Not Hispanic Hawaiian or Pacific Islander 2 19 38 - 190 3 Not Hispanic Other Race: 162 1.39% 439 07% 685 05K 3,697 oss $ ee a Si 2 22 ang Hispanic o Latino Population (2017) 6598 sx 23213 a2e 84027 2rox 402,304 sean | Hispanic White 3,187 420% 12,003 621K = 27.835 Stow 194,714 404d F ‘Hispanic Black or African American TT 12% 448 19% 1157 21% TT 4. i cee ae ta ea wi ot Hispanic Asian 17 03% 122 05% NT 08K 1953 oss S Hiopenic Hawaiian or Pacific islander 1 - 6 18 249 ard B Hispanic Other Race 2815 444% 9,363 40.9% 21,728 402% 175,214 4354 2 Me an Z-— 2a ae oS suena seen 20 sss oot sham ao sms non tes oe preeaaeclt co sat eae eae ees en, fea eee pe aon ee veer aerometn soe ake Em eae sem ee ee en wuas fost goa oad ar atta ‘aes, Sees face ae eee Sak Mme mee ae sae ron cc arse tier oe taal cantata ake (7, Sim UB, Cans Ae OMEN pemzas mapa Ses sted Genz Seldon 01707 TOER ay COMPLETE PROFILE 2000-2010 Census, 2017 Estimates with 2022 Projections Calculated using Weighted Block Centos om Block Groups Maywood Xsito Real Estato Laon: 41:8888).87.8344 rata) Maywood, IL 60 Total Age Distribution 2017) ane a ‘Age Under 5 Years 1368 71% 8780 sox 1290 cou 75671 axl ‘ge 510 Years 1456 79% 5885 Sak 18042 oR 7E,IaI 8 ‘ge 10 14 Years 1305 72K 5400 2k 27S am TAUSL 8 ‘ge 1510 19 Years 30 70% 5582 2K 12254 62m 78784 Age 201024 Years a sey Gat sex as ere Take aoe} 29025 29 Years 427 56x 5356 72% 13402 BOR 78744 ‘ge 300 34 Yours jo aex ae rox aaa roe Bnet 7a | ‘Age 35 39 Yours 1224 4% 081 eum 14227 72m 70.008 7 Age 40 to 44 Years ‘1,234 64% 5845 6.6% 13.594 6.9% 74560 8.74 E ‘age 45 049 Years ‘tee 42x 5650 eas 13100 cox 72.260 sa E ‘age 50 0 58 Years 1280 a7% = 5845 as © 13385 7m 7234 8a ‘ge 55 058 Yours 1288 7% 6.000 90% © 19D! 70% TiaOT ‘Age 60064 Youre 1087 56% 5540 ze 12410 33% BISA Be ‘Age 65 to 68 Years 835 49% © «4250 4am © OST2 are 8212 aad E fe 080 Yeas bir aa aon gee tame an Sees Sra f ‘e075 0 78 Yours 442 238 2097 2am 4.305 22m 3,000 22M t ‘Age 800 84 Years S24 17% 1455 tom ©3050 45% 7201 tend E ‘Age 85 Years ar Over 351 16% 4821 27% 3.840 tee 21,520 ] Median Ago 355 s70 372 356 ‘ge 18 Yours or Less S84 ates 22497 259% S047 arm 204001 zroHl f ‘age 201064 Years, 11148 orem 53588 sos 1208520 aae% 662.200 500 ge 05 Yor Over 2b0o 129m 12657 1am 2908 toe THATS 19 I Female Age Distribution (2017) : Female Population 10008 xox 40.386 529% 10472 zim 560,175 ‘he Under Years 650 Gsm 2805 ox Guy oom a7aia eam E Age 509 Years es 708 ©2751 sox G37 atx 38670 ard § ‘ge 10 14 Years 67s s0% 2777 sox 6.202 arm 8401 and B ‘Age 15 to 19 Years 668 47% 2,774 60% 8,003 58% 36,830 Mi fe 201024 Years 860 65% 2580 oe 6.054 Som 38,927 ge 25029 Years ger am ate tm 860 67 S002 com ‘ge 300 34 Yours 61 IN 32M TOR TaN 72H ANAT 7 ‘ge 35 038 Yoors se cox 3188 oa 772 71% © a98se on E ge 4044 Yours &10 a7 3008 sex Tar cow 782 GoM Age 45049 Yours 579 58% 2812 BIR «GTA GSK 8637 84g Age 500 84 Yoars 876 sex 3.000 ex 57,100 6. ‘Age 551089 Yours 867 57% 3.227 70% 371986: ‘Ago 601 64 Years 589 20x 3.008 6% man 5 ‘Age 85 6 69 Yoors 1 46% 2312 08 «5108 49% 28.248 40 ‘Age 70074 Yours 365 36k 17258 27% ©5572 Som 1B.4aB Be 207510 79 Yours 286 27% 4213 26% ©2500 24m 4207 28 ‘Age 80084 Yoors 204 20% O71 1889 tom 10863 1 Age 85 Yoars or Over 225 22% 1241 27% 2595 25% 14,588 Female Medan Age 372 383 386 372 ‘Ago 19 Yoars of Loos 2804 269% 11100 299% 24809 242K 148,106 28 ‘Ago 20 to 64 Yoors 5790 s79% 27909 m2% 62727 a7 397858 se. ‘ge 65 Yours or Over 1520 1626 TATK 189m 18685 157K 85,128 18: 07, or one en morse so Soe rs Sng Se UB, TER Sry COMPLETE PROFILE 2000-2010 Census, 2017 Estimates with 2022 Projections Calulted using Weighted Block Contd ram Block Groups Maywood Xsite Real Estate LatLon: 41.8888/-87 8344 Toner) cee Se Se Nee TE} ‘Male Age Distribution (2017) Male Population 9258 ar% © 42278 477% 95.001 47.9% ‘Age Under 5 Years 716 77% 70% 6557 89% ‘Age 5 to 9 Years 798 82% 40% 6695 70% ‘Age 100 14 Years 708 76% ase 6445 Bam ‘Age 15 to 19 Years er 73% ao% 6261 80% ‘Age 20 0 24 Years, eet 77% ek ©5972 62% ‘Age 25 to 29 Years 6i2 46x 72% 6522 69% ‘Age 20 to 34 Years 620 a7x 75% 8972 79% ‘Age 35 to 39 Years 68 81% 50% 6.855 72K ‘Age 40 to 44 Years 564 81% 65K 8521 Box ‘Age 45 1048 Yoars 610 86% 7% 6494 Bax ‘Age 0 to 54 Yours 813 86% 65% 6313 sax [Age 55 to 69 Yours 815 Bex ox 6.402 87% ‘Age 60 to 64 Years, 493 59% 59% 5.742 am Age 65 0 69 Years 374 40% 45% «4287 45% ‘Age 70 to 74 Years 253 278 3% 2737 20% ‘Age 76 to 78 Years 178 19% Zt 11835 19% ‘Ago 80 to 84 Years a2 13% 14% NT 1.2% ‘Age 85 Years or Over 128 14% 141245 19% Male Mesian Age 338 356 358 ‘Age 19 Years or Less 2850 sex 11,931 268% 28,968. 279% ‘Age 20 0 64 Years Age 65 Years or Over ‘Males per 100 Females (2017) “Ti pv dag to has an gee sous Gene DeabTe erao e p Wow Rene C A (Overall Comparison = ot 82 % ‘Age Under 5 Years 110 524% 108 s12% 103 s08% 103 508 ‘Age 5109 Years: 108 20% 108 s14% 108. $1.38 105.1, ‘Age 10 to 14 Years 108 51.0% 98

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