FIN 517 Team Project W Division St. Chicago, IL David Wise, Rudai Shan, Wenqi Li

House facts: 3600 sq ft Lot sizes each 2,750 sq ft (8,250 total sq ft) 3-Story with basement Average sale price is $409/sq ft 2 Units on each floor in current bldg 4 full bathroom 1 partial Bathroom Strengths: Great Location (heart of Wicker Park) Empty lots on either side of building High walk and transit scores Weaknesses: Lack of visibility to current inside conditions of building Potentially high-price Unknown current owner Unknown owner(s) of parking lots on either side

Opportunities: Neighborhood is increasing greatly in amount of residents High rent prices Artistic area and young demographic Within 1 minutes of transit stop Population density is high High-levels of foot traffic More probability of finding retail merchants willing to rent in this neighborhood Threats: Many competitors for retail space in this neighborhood Building appears to be outdated/in bad condition, so may be more cost-effective to rip down.

Design: We will be purchasing 3 lots next door to one another, in an attempt to erect a large multi- purpose building that comes with parking This property will be in the heart of Wicker Park off of Division st., and neighbors new developments such as: o Wicker Park Athletic Club o CVS (division/Ashland) o The Bedford Nightclub o Bangers and Lace 8 total residential units, 2 retail units o Residential units: 600 square feet each o Retail Units: 1220 square feet each Parking lot that is roughly 2,500 sq ft Construction: Renovating existing building structure Erecting new buildings on either side of existing building Modern material for new bldgs, while restoring existing property

Financing: Project involves combining three separate, neighboring properties. Approach 3 owners, propose they provide land and we come up with development design and plan LLC to be formed, 30% ownership for each of 3 property owners, 10% for our group; profits split up by percentage ownership Marketing: Marketing this property to potential tenants and retail companies will not be too difficult. o Begin by posting ads in some of the neighboring gyms, coffee shops, and university blogs. Keep tenants young, business/college professionals Retail operations that operate in the lower levels will be for that demographic