PROJECT SUMMARY
The South Loop Development Project is a commercial and residential project that will be developed in Chicago’s South Loop and downtown areas. This project will consist of a boutique hotel with a multi-commercial development with businesses in the hospitality and entertainment industry.
FIND COMMERCIAL REAL ESTATE ON THE MARKET WITH AT LEAST 50% OCCUPANCY WITH A POSTIVE NOI
We find commercial real estate with 50% occupancy or more with an exiting positive Net Operating Income and are located in affluent urban areas with a high concentration of business professionals.
WE INTEGRATE OUR BUSINES MODEL TO INCREASE COMMERCIAL REAL ESTATE OCCUPANCY TO 90-100%
We integrate our business model of hotel, hospitality and entertainment and customize it to fit in the real estate and appeal to the area demographic population which will increase the Net Operating Income.
WE INSTALL OUR MANAGEMENT TEAM TO MANAGE THE HOSPITALITY OPERATIONS AND REAL ESTATE
Once we integrate our business model into the commercial real estate to bring it to full occupancy it will be managed by our team of management professionals in hotel, hospitality and real estate.
PROPERTY REQUIREMENTS
THE RIGHT SIZE - 35,000sf-85,000sf
We look for commercial properties that are between 35,000sf-85,000sf. This square foot range allows us enough square space to install our business model which is a mixed use commercial operation.
THE RIGHT LOCATION - AFFLUENT URBAN CENTERS
Our portfolio will consist of properties that are in affluent urban centers ensuring that the market can support growth and sustainability.
THE RIGHT CAPACITY - 50% OCCUPIED
Our ideal properties will have at least 50% occupancy with commercial tenants with at least 3 year lease terms. This will ensure that the property has a positive NET cash flow.
THE RIGHT CONDITION - MOVE-IN READY
We want buildings are currently operational and that are nearly move-in ready and don't require any major rehabbing for the installation of our mixed-use operations.
THE RIGHT PRICE - MARKET VALUE OR BELOW
Our properties must be at market value or less. Our real estate brokerage firm does due diligence to ensure that our properties are purchased at a fair to great rate.
THE RIGHT NET OPERATING INCOME $300K+
Our desired properties must currently have a positive Net Operating Income of at least $300,000. This litigates our investment risk and promotes a quick ROI for our investment group.
LOCATION SUMMARY
Located in Chicago's South Loop Area
Comprised of Affluent Residents
Located Near 4 Major Interstates
Near 2 Train Stations
Walking Distance from Museum Campus, Lake Michigan, and Downtown Chicago
AREA DETAILS
The Loop areas are a lively hub of classic bars and diverse restaurants. Home to Chicago’s commercial core, it is the second largest commercial business district in North America and contains the headquarters and regional offices of several global and national businesses, retail establishments, restaurants, hotels, and theaters, as well as many of Chicago’s most famous attractions.
AVERAGE HOUSHOLD INCOME
The average household income in these areas is $97,528.41, which makes this a affluent community.
MEDIAN AGE
The median age in these areas is 33.6 years. This is a demographic that supports the hospitality industry.
POPULATION
The population in these areas is 48.47% Male and 51.53% Female, giving this community a healthy balance in gender.
HOUSING UNITS
The housing units currently stand at 11,278, with a substantial growth in housing in the past 10 years.
TRANSPORTATION
Our projects are near all of major public transit lines, making our project highly accessible.
INTERSTATE HIGHWAYS
Our properties are generally less than one mile from many of the major interstate highways (I-290, I-90/94, I-90/94East, I-55
TOURIST ATTRACTIONS
Close proximity Lake Michigan, the Museum Campus, Downtown Chicago Attractions, McCormick Place, Soldier Field
Retail/Commercial
Many major retail establishments and hospitality businesses and restaurants are in walking distance.
POTENTIAL COMMERCIAL PORTFOLIO
9
COMMERCIAL PROPERTY PORFOLIO
$63M
TOTAL COST FOR PORTFOLIO
$6.5M
CURRNT NET OPERATING INCOME OF PORFOLIO AT 50% AVERAGE OCCUPANCY
$10M
PROJECTED NET OPERATING INCOME AT 90-100% OCCUPANCY
PROPERTY SUMMARY
PROPERTY 1 - DOWNTOWN LOOP
4.8 MILLION
SQUARE FOOTAGE - 28,000 SF
CURRNT OCCUPANCY - 75%
CURRENT NOI - $295,233
PROPERTY 2 - SOUTH LOOP
4.9 MILLION
SQUARE FOOTAGE - 45,000 SF
CURRNT OCCUPANCY - 78%
CURRENT NOI - TBD
PROPERTY 3 - WEST LOOP
18 MILLION
SQURE FOOTAGE - 86,000 SF
CURRNT OCCUPANCY - 58%
CURRENT NOI - $350,000
PROPERTY 4 - RIVER NORTH
REQUESTING OFFER
SQUARE FOOTAGE - 68,000 SF
CURRENT OCCUPANCY - 50%
CURRENT NOI - TBD
PROPERTY 5 - DOWNTOWN LOOP
8 MILLION
SQUARE FOOTAGE - 28,000 SF
CURRENT OCCUPANCY - 0%
CURRENT NOI - 0
PROPERTY 6 - SOUTH LOOP
8.5 MILLION
SQUARE FOOTAGE - 34,000 SF
CURRENT OCCUPANCY - 92%
CURRENT NOI - $729,240
PROPERTY 7 - WEST LOOP
REQUESTING OFFER
SQUARE FOOTAGE - 36,282 SF
CURRENT OCCUPANCY - 93%
CURRENT NOI - $812,343
PROPERTY 8 - SOUTH LOOP
13 MILLION
SQUARE FOOTAGE - 52,750 SF
CURRENT OCCUPANCY - 90%
CURRENT NOI - $280,693
PROPERTY 9 - SOUTH LOOP
16 MILLION
SQUARE FOOTAGE - 48,000 SF
CURRENT OCCUPANCY - 100%
CURRENT NOI - TBD
DEVELOPMENT TEAM
CONSTRUCTION MANAGEMENT
Construction Works BLvett, JV Inc. is a collaboration of two of the leading full service general contracting/ construction management firms. They’ve both have built solid reputations for comprehensive management controls, highly competitive pricing, and a bottom-line commitment to quality.
ARCHITECT
Specializing in Hospitality Design - International & Domestic, Restaurant, Resort Planning, Spa, Hotel, Lounge, Gaming, Entertainment, Retail, and Commercial
(POTENTIAL) CONSTRUCTION COMPANY
JE Dunn is an industry leader in the application of preconstruction technology, virtual design and construction, and other emerging construction technologies.
HOTEL/HOSPITALITY/BUSINESS MANAGEMENT TEAM
Woodmont Lodging's Client Services Group delivers financial results to third party owners through advisory engagements, asset management services and property management services.
$63
Million
Total Budget for the South Loop/West Loop/Downtown Development Project
Based on the initial vision and concept these numbers are just an estimate. As we get further into the development we will have a more accurate projection based on the architectural drawing and land site needs.
NEXT STEPS
Here are the steps that we'll be taking to get this project underway.