1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

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1 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

2 May 28 th, 2007 To Whom It May Concern, Please accept this loan and investment booklet for your considerations. Emerald Isle Partners, LLC has been retained to raise equity and debt financing for the enclosed project. In this booklet you will find the following: An Executive Summary Listing of Sources and Uses Project Pro Forma and Budget A Resume on Each Principal Supporting Market Data This booklet is to be used as a snapshot of the project. To get more detailed information, Emerald will gladly set up a conference call with each of the sponsors. Please feel free to contact me with any questions you may have, at either of the numbers provided below. Thank you in advance for your consideration of this deal. Respectfully, David R. Carey Emerald Isle Partners, LLC Oakbrook Terrace, IL (Office) (Mobile) 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

3 Executive Summary THE PROPERTY The Project, known as 4979 S. Indiana in Lisle, Illinois, is a classic office condo conversion. The building, formerly owned by Tellabs as part of a multiple building complex, is 51,973 square feet, three stories, and is set at the end of a cul de sac which backs up to a forest preserve. It offers a secluded, serene setting that is quite unique in the Western Suburban office market. Additional area surroundings include a first class office campus of the Molex Corporation, as well as a brick exteriored Lisle Township Building, which sits next door to the subject property. With an abundance of parking (5.2 paces per 1,000 square footage of building space vs. comparable market properties of 3.75 spaces per 1,000 square footage of building space), this project offers an affordable, spacious, and peaceful setting in the vibrant Route 34/I-355 corridor. THE PROJECT The goal of the project is to convert the existing, vacated building to office condos. Competing projects, which mostly consist of new construction, range in prices from $194 to $225 per square foot for a warm shell, meaning there is no individual space build out. The acquisition price of for the subject property is approximately $56 per foot. The office condo conversion will include, but not be limited to the following: Constructing a new entry and lobby. (Drawing included in this booklet.) The addition of a new passenger elevator (Unique to this market.) Bathroom upgrades consisting of granite counter tops and high-end fixtures. Complete upgrade of the existing landscaping. (See drawing in booklet) Addition of a new irrigation system. New signage. Common area upgrades, such as upgrading corridors and flooring. New HVAC and new electrical panels for each unit, as well as new light fixtures. A state of the art board room/conference room, in addition to a first class ground floor, kitchen and break room will be available to all tenants, free of charge. The conversion will also include a model office and marketing center to enhance the selling process. Storage units will be available for purchase by unit owners on the lower level of the building. 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

4 FINANCIAL DETAILS The attached packet includes a Sources and Uses for the conversion. To highlight a few of these items, the acquisition price is approximately $2,900,000, and the property is currently under contract with earnest money deposited. Total conversion costs are expected to be roughly $2,000,000, creating a Total Hard Cost in the deal of around $93 per square foot. Other soft costs, such as marketing, commissions, legal, contingencies, and carrying costs will add another $1,200,000, creating a Total Project Cost of about $116 per square foot. The plan is to market the project in the $165 per square foot range, allowing the sponsor/developer to discount pricing for lower floors, which will have less than attractive views than the upper floors. Factoring in these costs and sales prices, the project is expected to generate in excess of $2,000,000 in profit. THE DEVELOPER Mack Properties, LLC is an entity formed by Jim Mack McClelland and Phil Wegele to acquire and re-develop commercial properties with the primary goal of creating enhanced ownership equity. Mr. McClelland has rehabbed and developed many properties in the Chicago Suburban, while Mr. Wegele has worked for a number of commercial development companies, and has been part of an impressive list of successfully completed projects. Their resumes are included in this booklet. 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

5 SOURCES & USES OF FUNDS 4979 Indiana Avenue, Lisle, IL Sources Amount Uses Amount Primary/Construction Loan $5,133, Property Acquisition $2,962, Equity Financing $ 570, Site Improvements $ 60, Construction: Demolition $ 155, New Entry/Elevator $ 276, Model Office/Mkt Center $ 72, Common Areas $ 376, HVAC/Electrical $ 590, General Conditions $ 88, GC Overhead $ 93, A&E $ 78, Permits & Insurance $ 39, Contingency $ 80, Total Construction $1,847, Legal $ 60, Marketing $ 25, Interest Reserve $ 650, Contingency $ 100, Total Sources $5,704, Total Uses $5,704, Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

6 UNIT SALES (EXIT) 4979 Indiana Avenue, Lisle, IL UNIT SALES $155 psf average x 51,973 sf Total Sales Revenue $ 8,055,815 Commissions $ 402,790 Net Sales Revenue $ 7,653,025 Investment $ 5,704,000 Gain on Project $ 1,949,025 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

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11 Phillip W. Wegele, SIOR PROFILE Phil Wegele has over 25 years of broad and unique experience assisting clients in the acquisition, management, leasing and disposition of commercial real estate assets, offering specialized expertise with investment sales, sale/leasebacks and build to suits, bridge crane facilities for steelrelated uses, warehousing and logistics, and manufacturing. Phil has provided services to a wide variety of major national clients including Boeing, Ball Corporation, Chesebrough-Pond s, Deere & Company, Nestle, Pillsbury, Prudential, Ryder, and Xerox, as well as regional and local companies. EXPERIENCE Phil Wegele & Company, Chicago, IL Principal Head of commercial real estate services firm providing professional expertise in investment sales, tenant representation, strategic planning, development consulting and property marketing. Trammell Crow Company, Chicago, IL Senior Vice President Head of the Chicago industrial brokerage team. Provided strategic advisory and tenant representation services to the firm s corporate clients. Duke Realty Investments, Indianapolis, IN Vice President and General Manager Head of Duke s largest business unit, the Indiana Industrial Group, an 18 million square foot portfolio generating approximately $50 million in FFO on $300 million in assets. 4,680,000 square feet in leases signed and 1,132,000 square feet in new development started. Designed and implemented the company s first National Accounts Program. Acquisitions institutional-grade industrial portfolios and up-side/re-development opportunities. Cushman & Wakefield, Chicago, IL Director Industrial/Technology Group Concentration on sale and leasing of larger manufacturing/distribution properties and crane-served facilities, sale/leasebacks, investment sales and build to suits. Chicago Office s Top Industrial Broker, Midwest Area s Top Industrial Producer, Most Valuable Player, Deal of the Year, Top Ten and Top One Hundred nationally. Member of the firm s National Industrial Advisory Committee. Ashley Capital, Chicago, IL Partner/General Manager Acquisition, re-development, leasing, and management of the firm s 4 million square foot portfolio. 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

12 EDUCATION University of Chicago MBA Florida State University MS Educational Administration/School Finance BS Business Administration PROFESSIONAL/COMMUNITY INVOLVEMENT Society of Industrial and Office Realtors (SIOR) President Board of Education, Palos Community Consolidated School District 118 Chairman New Church Building Committee, Christ Community Church Executive Committee of the Board Options for People, Inc. President of the Board Calumet Area Industrial Commission SELECTED MAJOR TRANSACTIONS PROJECT LOCATION SIZE Calumet Business Center Chicago, IL 2,000,000 sf U.S. Metalsource Chicago, IL 1,000,000 sf Deere & Company Indianapolis, IN 921,000 sf Prudential/Opus North Corporation Indianapolis, IN 921,000 sf Brownstown Business Center Detroit, MI 900,000 sf Leaf, Inc. Chicago, IL 585,000 sf Johnson & Johnson Chicago, IL 525,000 sf Cooper Industries Indianapolis, IN 512,000 sf Warren Business Center Detroit, MI 500,000 sf Galaxy Steel Chicago, IL 480,000 sf Cupples Products St. Louis, MO 435,000 sf Chesebrough-Pond s Chicago, IL 303,000 sf S&H Chicago, IL 295,722 sf Customized Transportation, Inc. Munster, IN 251,000 sf Welded Tube Chicago, IL 240,000 sf Boeing Chicago, IL 205,000 sf Trinity Industries Chicago, IL 195,000 sf Houghton Mifflin Indianapolis, IN 172,000 sf Customized Transportation, Inc. Chicago, IL 153,000 sf Goodwill Industries Indianapolis, IN 150,000 sf 1 Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

13 MACK INDUSTRIES, LTD. James K. McClelland Thirty-two years in Real Estate and you d think I d know it all. Well, I m still learning. Here s what I have accomplished: I ve owned Gaslight Realty in South Holland, IL with twenty-five agents. I ve built and sold over fifty properties on out lots throughout the South Suburbs. I developed a PUD of sixty properties in Oak Forest. In 1998 one of my bankers called me to see if I wanted to purchase an REO property that they reluctantly owned. After purchasing and rehabbing the property I discovered that my profit per unit was more than new construction. We currently do approximately one hundred projects a year, which are comprised of single family and commercial real estate. We are the largest redeveloper of single family residential real estate in the Chicagoland area Oak Park Avenue Tinley Park, IL fax Lincoln Centre 15th Floor Oakbrook Terrace, IL 60181

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