Community and Economic Development

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1 6.B Exhibit Incorporated in 1909 Community and Economic Development Presentation To: From: For Village Board Meeting of: May 14, 2018 Subject: Concept Plan Presentation - Industrial Flex Condominiums Financial Impact: Attachments: 1. Petitioners Packet - Concept Application - 0 Wilhelm (PDF) 2. Location Map - 0 Wilhelm (PDF) Background Big Door is a new company positioning to establish themselves in the emerging market of Garage Condominiums. Garage Condominiums are multi-unit industrial buildings with separately owned units, generally used by car aficionados and contractors. This 2.1 acre site was identified by the applicant for purchase and development. Big Door seeks feedback on the proposal to develop approximately 38,000 square feet of Garage Condominiums in three buildings. The existing three parcels would be further subdivided so that each unit was its own separate tax parcel. This subdivision would allow for each unit to be sold separately. A breakdown of unit sizes for this location has yet to be determined; however, it is expected that the three buildings would house approximately units. Garage Condos A trend to develop Garage Condominiums has been observed in Colorado, Florida, and Texas. These developments primarily target those who need additional indoor storage space for vehicles, hobbies, and contractor's office and work space. Units typically range from 500 to 2,500 square feet in size, are climatecontrolled, and are flexible so as to accommodate a variety of users. These flexible industrial spaces are a hybrid between storage units and traditional industrial flex spaces. What makes Garage Condominiums unique Packet Pg. 24

2 6.B is that each unit is sold separately. The most common tenant for Garage Condominiums is the car collector. These users will purchase a unit to store their antique, classic, or sports cars and will use the space as a luxury garage. Dedicating a portion of the space as a living room area with a television, couch, refrigerator, or recreational equipment is not uncommon. Garage condominiums are not exclusively limited to these users; however, and others such as contractors, artists, RV owners, and mechanics may purchase units. Comprehensive Plan Applicable industrial land use policies outlined in the Comprehensive Plan include: 1. Strengthen and promote light industrial and business park uses in designated areas; 2. To the extent possible, mitigate the negative effects of industrial uses on adjacent and nearby residential properties through use of setbacks, screening, buffers, orientation of activity, and more; 3. Improve infrastructure in designated industrial areas to ensure adequate capacity, attraction, and private investment; 4. Utilize development and improvement opportunities within the industrial areas to strengthen and better establish a positive corporate/business image and identity for the Village. Attractive and prominent business park gateway signage and identification is encouraged. The Industrial Chapter of the Comprehensive Plan indicates that these areas are dedicated spaces within the Village to accommodate research and office uses, light assembly and tech industries, distribution and storage businesses, commercial service uses, and other employment use opportunities within the Village. These areas should be developed with a mix of industrial, business, commercial service, and office uses. Over time, the intrusion of non-industrial/business park uses can reduce the desirability of an area from being sought out for new investment and businesses. These other non-industrial/business park uses can have a home in small industrial areas, like those along Armour Boulevard, McCormick Boulevard, and Washington Boulevard. Zoning The zoning for the property is M-1 General Manufacturing. The M-1 Zoning District permits motor vehicle repair, office, mini warehouse, warehouse/distribution, and indoor contractor storage yards. This encompasses the majority of uses anticipated by the applicant at the location with the exception of the user who utilizes some or all of their unit as a recreational space. No single defined use within the Village s Zoning Code accommodates this potential use. Staff informed the applicant that a variation will be needed, at a minimum, to permit recreational use of the condominium units. Other non-permitted uses would be prohibited through the zoning ordinance. Staff would work with the developer on other zoning requirements and would review the HOA covenants to clearly define permitted uses. Economic Impacts This site has never been developed and has a minimal contribution to the local economy. The proposed building would include several dozen condo units, each being taxed separately. Units may or may not generate additional sales tax revenue for the Village and/or create jobs depending on who the end user of each unit is. Packet Pg. 25

3 6.B This project is different than the industrial buildings typically seen in the Village s industrial zoning districts and would occupy land which could otherwise be used for traditional industrial users. TW/AO/aw Recommendation The Village Board is asked to provide feedback and direction on the proposed concept plan for the industrial condominium development. Packet Pg. 26

DocuSign Envelope ID: 33B53CBD-5E4E-4C4C-8556-47408B30DE5C 6.

4 DocuSign Envelope ID: 33B53CBD-5E4E-4C4C B30DE5C 6.B.a Presentation; Industrial Flex Condominiums) Packet Pg. 27

5 Presentation; Industrial Flex Condominiums) Packet Pg. 28

6 PRODUCT DESCRIPTION Everyone needs a space to call their own. Whether it's collecting vintage cars, storing the family boat or RV, or pursuing a business, Big Door offers ownership of secure and customizable units ranging from 500 to 2,500 square feet. These units allow the owner to create a space that fits their induvial needs while being able to have an asset that builds equity and gives them the freedom from rental payments. A Big Door development is a benefit to the community. It provides a low impact, attractive facility that is maintained to the strict standards created by the HOA. The individually parceled units add to the tax basis of the property and provides surrounding neighborhoods with a good option for storage of large recreational vehicles. With a broad base of potential users, the development allows for those in the local community to find a finically beneficial outlet for their storage related needs. PRODUCT BACKGROUND The garage condo took its current form in the mid 2000 s. Since then it has found success across the country, albeit at a small scale. The most mature market in the country is Denver, CO, with 30 successful developments throughout the metro region. Chicago, on the other hand, only has one development. With such a strong appetite in a much smaller market, it would seem there is a clear underserved segment in Chicago and its surrounding suburbs. TEAM John Victor Principal John has over 10 years of experience in real estate, including investment and management. He is founding Principal of Giant Steps Mobile Home Communities. He has extensive experience in property management, sales and marketing. Dave Miller Principal Dave s background is in operations and investment management. Prior to Big Door, he was Senior Vice President at StellaService, and held various positions at Dimensional Fund Advisors. He has experience managing multi-faceted projects involving large teams. PG 1 Presentation; Industrial Flex Condominiums) Packet Pg. 29

7 TEAM (CONTINUED) Buzz Victor Advisor Buzz was a founder of the Self-Storage Association, the industry's trade association and served as President for two terms. Through his career he has developed over 2.5 million square feet of rentable space in markets all over the country. Mike Ard Advisor Mike has compiled a successful 13-year track record in the design, development, marketing and management of garage condominium projects--12 of which were with one of the largest developers of storage condos in the United States. To date, Mike has completed five sites in the metro Denver area, accounting for the sales of more than 400 garage condominium units. PG 2 Presentation; Industrial Flex Condominiums) Packet Pg. 30

8 Presentation; Industrial Flex Condominiums) Packet Pg. 31

9 Intro to Garage Condos Packet Pg. 32

10 Contents Overview 03 Unique benefits 04 Benefits to community 05 Potential owners 06 Example exterior photos 10 Example interior photos 15 Example uses 19 Example site plans 22 Example amenities 28 Contact information 31 Packet Pg. 33

11 Everyone needs a space to call their own. Whether it's collecting vintage cars, storing the family boat or RV, or pursuing a business, Big Door offers ownership of secure and customizable units ranging from 500 to 2,500 square feet. Overview 3 Packet Pg. 34

12 Customizable space Power, water, cable/internet in each unit Individual heating and air conditioning 24 ceilings allowing for mezzanine level 14 garage door with separate man door Ownership benefits Complete financial control An asset that can build equity Freedom from rent payments Safety + security 24-hour surveillance Gated and fenced Unit-level security system ready Unique benefits 4 Packet Pg. 35

13 Benefits to the community Added tax basis Developing vacant land adding higher tax value basis Creating many units on which to individually tax Low-impact development Minimal traffic Designed and landscaped to fit into property surroundings Managed by HOA to enforce permitted uses Community asset Provides RV / auto / ATV parking off local streets High pride-of-ownership product Allows for safe and secure storage of a contractor s supplies and equipment 5 Packet Pg. 36

14 Potential Owners 6 Packet Pg. 37

15 The Collector For those with a love for cars, antiques, or worldly collectibles Add a mezzanine or car lift Build out the ultimate mancave Showcase your most prized possessions 7 Packet Pg. 38

16 The Outdoor Enthusiast A great home for all your recreational toys under one roof Keep your RV ready with electrical hook-up and on-site water and dump stations Work on your boat, ATVs or motorcycles Move with ease into and out of your unit with oversized driveways 8 Packet Pg. 39

17 The Collector For those with a love for cars, antiques, or worldly collectibles Add a mezzanine or car lift Build out the ultimate mancave Showcase your most prized possessions 9 Packet Pg. 40

18 The Contractor A perfect place to safely store inventory and company vehicles while managing day-to-day business needs A perfect place to safely store inventory and company vehicles Build out a small office with cable/internet capability Receive and ship packages 10 Packet Pg. 41

19 Example exterior photos 11 Packet Pg. 42

20 Entrances with architectural features Example exterior photos Entrances with architectural features 12 Packet Pg. 43

21 Diverse ways to match surroundings Example exterior photos Diverse ways to match surroundings 13 Packet Pg. 44

22 Pre-cast construction Example exterior photos Pre-cast construction 14 Packet Pg. 45

23 Pre-engineered metal construction Example exterior photos Pre-engineered metal construction 15 Packet Pg. 46

24 Example interior photos 16 Packet Pg. 47

25 14 door with 24 clear Example interior photos 14 door with 24 clear 17 Packet Pg. 48

26 Ability to combine units HVAC Example interior photos Ability to combine units / HVAC 18 Packet Pg. 49

27 Mezzanine ready Example interior photos Mezzanine ready 19 Packet Pg. 50

28 Example uses 20 Packet Pg. 51

29 RV / Auto storage Potential uses RV storage 21 Packet Pg. 52

30 Motorsports garage Office / Record Storage Potential uses Motorsports garage / Office / Record Storage 22 Packet Pg. 53

31 Example site plans 23 Packet Pg. 54

32 Example site plans 24 Packet Pg. 55

33 Example site plans 25 Packet Pg. 56

34 Example site plans 26 Packet Pg. 57

35 Example site plans 27 Packet Pg. 58

36 Example site plans 28 Packet Pg. 59

37 Example amenities 29 Packet Pg. 60

38 On-site HOA meeting room Example amenities On-site HOA meeting room 30 Packet Pg. 61

39 Vacuum and air compressor RV water-fill and dump station 6.B.a Example amenities Vacuum and air compressor / RV water-fill and dump station 31 Packet Pg. 62

40 John Victor Principal Dave Miller Principal bigdoor.com Packet Pg. 63

41 Baskin Rd Location Map: Wilhelm Road Garage Condominium Concept 6.B.b Leighton Rd M-1 C-2 C-3 C-2 C-2 Townline Rd IL Route 60 E IL Route 60 Grosse Pointe Cir OS M-1 Oslo Ct Mccormick Blvd R-4 C-2 M-1 M-1 Wilhelm Rd Derby Ln R-4 Newport St R-4 R-5 Armour Blvd Reidel Rd Orleans Dr R-5 M-1 Leeds Ct Butterfield Rd S Butterfield Rd M-1 Attachment: Location Map - 0 Wilhelm (3037 : Concept Plan Presentation; Industrial Flex Condominiums) Legend Parcels Railroads Road Centerline ,000 Feet Canterbury Ln Lake County GIS Division µ Map Date: 05/07/2018 Packet Pg. 64

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