America Is the Target; Israel Is the Front Line _ Andy Blumenthal _ The Blogs...
South of the bridge at fort sheridan
1. :: OFFERING MEMORANDUM
Brokerage | Land Services Group
±37 ACRE PROPERTY LOCATED ON THE SHORES OF LAKE MICHIGAN
E a s t a n d W E s t o f P at t E n R oa d
HIGHLAND PARK AND HIGHwOOD, ILLINOIS
:: INVESTMENT OPPORTUNITY
2. TA B L E O F C O N T E N T S
H I G H L A N D P A R K A N D H I G H W O O D - ± 3 7 A C R E S | TA B L E O F C O N T E N T S
Executive Summary 3
The Offering ........................................... 4
ALTA/ACSM Land Title Survey .................. 5
Existing Utility Conditions ........................ 6
Area Location Map.................................. 7
Chicagoland Location Map .....................8
Aerial Photograph ................................... 9
Area Overview 10
Area Highlights ..................................... 11
Highland Park ...................................... 12
Highwood ............................................ 13
Fort Sheridan........................................ 14
Demographic Snapshot......................... 15
The Property 16
Aerial Location Aerials......................17-18
Concept Plans 19
Concept Plan ........................................20
Traditional Single Family........................ 21
Neotraditional Single Family.................. 22
Traditional Single Family........................ 23
Appendix 24
Exclusive Agents.................................... 25
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3. H I G H L A N D PA R K A N D H I G H W O O D - ± 3 7 A C R E S | E X E C U T I V E S U M M A R Y
Executive Summary
The Offering
ALTA/ACSM Land Title Survey
Existing Utility Conditions
Chicagoland Location Map
Aerial Photograph
3
8. Fort Sheridan
H I G H L A N D PA R K A N D H I G H W O O D - ± 3 7 A C R E S | C h i c a g o l a n d L o c a t i o n M a pHighland Park, Illinois
Antioch Winthrop Harbor
Hebron 94
Spring 45 Zion
Grove Old Mill
Creek Wadsworth
47 59 Lake Beach Park
31
12 Villa Lindenhurst
Fox Lake 83
Johnsburg 132 41
Wonder Lake Round Lake Beach
Gurnee Waukegan
Round Lake
120
14 McHenry
Lakemoor Grayslake SITE
SITE
Volo 21 North Chicago
Woodstock Bull Valley 60
Libertyville
Lake Bluff
Prairie Grove Island Lake 176
Wauconda Mundelein
Oakwood
Mettawa
Crystal Hills Lake Forest
Hawthorn
Lake Vernon Hills
Lakewood
Cary
Lake
Barrington
Fox River Grove
Lake
Woods
22 94
!
Zurich Kildeer Lincolnshire
Lake in the Hills Highland
Long 43 Park
Deer Park Grove 45
Huntley Algonquin 25 12 Buffalo Deerfield
Barrington Grove
90 Barrington Hills 68 Glencoe
14 53 Northbrook
Carpentersville Wheeling
Inverness Palatine
62 294 Winnetka
West East Arlington
72 20 Dundee Dundee South Barrington Heights Glenview
Pingree Wilmette
Grove 90 Mount
58 Hoffman Estates Prospect Morton
47
Elgin Evanston
Grove
72 Skokie
Streamwood Des
Niles
59
Schaumburg
290
Elk Grove
Village
Plaines Park
Ridge 94
Lake
South
Elgin
31
Bartlett
Hanover
Park Roselle
Wood Dale
´ Michigan
Lily 20 O'Hare
O'Hare
O'Hare
O'Hare
O'Hare 19 41
64 Lake
Wayne
Bloomingdale 171
Addison
Franklin 50 90
Carol Glendale Park
St Charles Stream 94
Heights 64
Melrose Oak
38 West Elmhurst
Elburn 355 Park
Geneva Chicago Park
Winfield 83
290
Glen Lombard Chicago
Wheaton Ellyn
88 Batavia
88 Cicero
Oak LaGrange 43 55
Warrenville Brook Park
34 Lyons
Downers Hinsdale
Sugar
Lisle Grove ´ Midway
Midway
Midway
Midway
Midway
Hodgkins Bedford
30 Grove Naperville
Aurora Woodridge Park
Darien Burr Justice
Ridge Burbank
Montgomery Hickory
53 55 Willow Hills Oak Evergreen
Park 20 12
Springs Lawn 90
Oswego Bolingbrook Palos
Hills 57
171
34 Lemont 45 Alsip
Palos Blue
Yorkville Heights Island 912
294 Riverdale
Romeoville
94 East
Homer Orland Midlothian Chicago
Glen Park Calumet
71 126 Plainfield
6
Oak Forest Harvey 90 12
8 Lockport
South
Holland
City
Hammond Gary
59 Tinley Lake
Crest Hill 355 Portage
10. 10
Area Overview
Area Highlights
Demographics
Highland Park
Fort Sheridan
Highwood
H I G H L A N D PA R K A N D H I G H W O O D - ± 3 7 A C R E S | M A R K E T O V E R V I E W
11. AREA OVERVIEW
Area Highlights
• Highland Park and Highwood have multiple
attractions including downtown shopping
and entertainment districts.
• Ravinia Festival, summer home of Chicago
Symphony Orchestra.
• Multiple art and seasonal festivals.
• Evening Gourmet Farmers Markets hosted in
downtown Highwood weekly in the summer.
• Home of Midwest Young Artists a renowned
not-for-profit music school.
• Numerous homes designed by prominent
architects including Frank Lloyd Wright,
Howard Van Doren Shaw, David Adler,
John S. Van Bergen and Robert E. Seyfarth
to name a few, as well as several parks
designed by acclaimed Landscape Architect
Jens Jenson.
• Property is within short and convenient
Attribution: Krystyna Cygielska http://en.wikipedia.org/wiki/File
walking distance to multiple Metra Stations.
• Property is served by award winning North Shore School Districts 112 and Township High School District 113.
• Sewer, water and all utilities stubbed to site.
• Close proximity to acclaimed restaurants, shopping, and numerous recreational and cultural facilities.
• Convenient Access to Interstate Highways and Rail Transportation.
• An abundance of recreational amenities, together with neighborhood parks, walking and biking trails, work to create a village-wide
sense of community.
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12. AREA OVERVIEW
City of Highland Park
Highland Park is geographically situated along five Lake Michigan. The community enjoys an indoor ice
miles of beautiful Lake Michigan shoreline, just 26 rink facility, many excellent tennis courts, and racquet
miles north of downtown Chicago. Highland Park is ball courts, as well as the beautiful 96 acre Heller
a vigorous community that offers an unusual wealth Nature Preserve.
of beautiful parks, recreation facilities, and individual
Orientation
centers for youth and seniors. Its lovely homes range
There is a strong and positive relationship of house
in style from Frank Lloyd Wright to classic Victorian.
to street. Builders have been encouraged to build to
A richness of history and culture come together in the street setback line and orient front doors toward
Highland Park’s internationally acclaimed Ravinia the street to enclose the street space and encourage
Festival, where the world’s great artists of music, pedestrian street activity. Garages have been rear-
dance, and theater perform each summer. loaded, side-loaded or setback so garage doors are
less visible.
Nationally and regionally honored schools and
an impressive library offering more than 190,000 Park District
volumes and 14,000 audiovisual materials provide The Park District of Highland Park, founded in 1909,
residents quality educational and cultural resources. operates and manages over 650 acres of land in
Churches and synagogues represent major religious 44 park areas, and offers approximately 3,000
denominations. Expert medical care is available at recreation and seasonal programs. Facilities include
the 325-bed Highland Park Hospital. The downtown an indoor ice arena, tennis and racquetball complex,
business district, a focal point for shoppers, has won two recreation centers, a nature center, an 18-hole
many awards for its creative design. Two additional golf course, driving range, adventure golf, aqua
shopping areas and various convenience outlets park, indoor pool, beaches, boat launch ramp and
serve the city’s shopping needs. yacht club on Lake Michigan.
This All America City has received two national Area Entertainment
volunteerism awards, earned a Presidential award Highland Park is home to the Ravinia Festival,
for excellence in education, has twenty-seven times which has been attracting music lovers since 1899.
been cited as a Tree City, USA, and has received More than 500,000 people attend the festival’s
gold medals for its Park District. An atmosphere of summer programs, running from early May until late
community pride is created by involved residents. The September each year.
Park District of Highland Park maintains about 600 Information obtained from the City of Highland Park Website: http://www.cityhpil.com/
Attribution: Jeremy Atherton
acres of parklands, including three parks located on http://commons.wikimedia.org/wiki/
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13. AREA OVERVIEW
City of Highwood
The population of Highwood was reported to Also adding to the location’s appeal is the Open- Metra commuter trains run from Kenosha, Wis-
be 4,143 according to the 2000 Census, with a lands’ Fort Sheridan Lakefront Preserve, which has consin to Chicago, Illinois over twenty times a day
median household income of $42,993. Of all of been dedicated to restoring the bluffs and ravines with nearby train stations located in Highwood, Fort
the North Shore lake front communities, Highwood along Fort Sheridan’s shoreline. This organization Sheridan and Highland Park. The express train from
has consistently offered a lower priced housing has protected the open areas within Fort Sheridan, Highwood to Chicago takes only thirty minutes.
stock than its neighbors, although that has rapidly and ensured the public can enjoy this environmen- Highwood is easily accessible via IL Route 22, IL
changed with the redevelopment of Fort Sheridan. tally rich area along Lake Michigan. Route 131 and U.S. Route 41.
Currently, its housing prices are on the rise, boosted
by the 550 unit new residential units developed in Education Recreation
Fort Sheridan, which is partially located in Highland North Shore Elementary School District #112, Highwood benefits from its close proximity to many
Park and partially located in Highwood. which includes Oak Terrace Elementary School, Elm recreational and cultural facilities. With over five miles
Place Middle School, Edgewood Middle School and of Lake Michigan shoreline, Highwood’s neighbor,
Highwood has long been known for its excellent
Northwood Junior High School, serves Highwood. Highland Park has three parks located along Lake
and abundant supply of restaurants. While its retail
Highland Park High School offers secondary educa- Michigan. During the summer months, the North
amenities are more modest, its restaurants are widely
tion to Highwood residents. One parochial school is Shore becomes a midwestern recreational hub. The
acclaimed and draw a large clientele from the sur-
also located within the city. public beaches are open from Memorial Day to Labor
rounding area. Many of these restaurants consistently
make the lists of the best restaurants in Chicago, in- Day and are carefully maintained. Water-lovers of all
Highwood/Highland Park provides excellent aca- ages enjoy volleyball, windsurfing, swimming, sun-
cluding Carlos’ and Gabriel’s. Recent improvements
demic options for its residents. The percentage of bathing, beachfront bonfires or just relaxing at the
to the streetscape in the retail district included bury-
residents with a bachelor’s degree or higher are sig- beaches.
ing power lines, new brick pavers and street lighting,
nificantly higher than the Illinois state average. There
landscaping, and new building façade renovations.
are numerous opportunities for higher education Highwood is home to a variety of festivals including
within a twenty-mile radius of Highwood including the Evening Gourmet Farmers Market, the new North
The central business district of Highland Park is situ-
the following four-year institutions: Lake Forest Col- Shore Flea Market and Garlic Festival in the sum-
ated approximately 1.5 miles south of Highwood’s
lege, Northwestern University, Northeastern Illinois mer and the annual Record Breaking Pumpkin Fest,
business district, and also provides neighborhood
University and Trinity International University. College and Highwood for the Holidays in the fall and winter
shopping amenities for Highwood’s residents. High-
of Lake County is a community college that offers a months.
land Park’s central business district was expanded
two-year program.
within the past 5 to 10 years with the development of
Port Clinton and more recently, Renaissance Place, Within walking distance to the property is the Mid-
which features a Saks Fifth Avenue, major national Transportation west Young Artists (MYA), a not-for-profit music
retailers, restaurants, a movie theater, and luxury Residents of Highwood have access to the Chica- school. Founded sixteen years ago, this institution
rental apartments. This is a dynamic and vibrant re- go Loop (27 miles), O’Hare Airport (20 miles) and has become well known a among professional musi-
tail location, and has been a major asset to the resi- other suburban sites via Metra’s Chicago & North cians and educators as a place for students to study
dents of the North Shore. Western/North Line commuter trains and Pace bus with master teachers, and compete in world class
service. competitions.
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14. AREA OVERVIEW
Fort Sheridan
Fort Sheridan was developed in the late 1880s When the redevelopment of the Fort was planned, Historic adaptive reuse product is quite unique in
as a military installation by the U.S. Army. Parts of the various government agencies and private the North Shore market, and Fort Sheridan is the
Fort Sheridan were designated a National Historic developers involved established certain established only development in the area providing this type of
Landmark District by the National Park Service certain standards and guidelines for the exterior product.
in 1984. Ninety-four structures are included as preservation and restoration of nearly all of the
contributing buildings within the Historic District, with Fort’s military homes and barracks. This agreement As part of the development, the U.S. Army deeded
66 of the buildings designed by Holabird & Roche required adherence to strict design guidelines for the about 260 acres, including the golf course at Fort
in the late 1880s and early 1890s. They include construction of new homes, plus preservation of trees Sheridan to the Lake County Forest Preserve. The
officers’ quarters, barracks, stables, a drill hall, and and vegetation. The redevelopment of Fort Sheridan master plan for the Fort Sheridan Preserve calls for
other service and institutional buildings, including has been completed, with the exception of a few rebuilding the golf course, restoring the Preserve’s
the tall water tower that dominates the Fort. small adaptive reuse buildings, which were sold to bluffs and ravines, providing public access through
individual developers and are currently undergoing new trails and beach access, and constructing a new
Fort Sheridan was selected for closure in 1988 and renovation. clubhouse/visitor’s center. The golf course closed in
officially ceased operations as a U.S. Army installation the fall of 2004 in anticipation of this work.
on May 28, 1993. Of the 714 acres at the base, the With the dramatic transformation of Fort Sheridan,
U.S. Army has retained two parcels of 114 acres, property values have continued to increase.
which continue to serve Army Reserve missions. The
Navy purchased 185 acres from the Army for use
as military housing and office functions. 415 acres
remained as surplus property for disposal by the
Army. 230 of the 415 acres comprise the National
Historic Landmark District and the remainder is open
space.
Redevelopment
The redevelopment of Fort Sheridan began in the
late 1990s, with approximately 550 residential
units developed on the site. This includes a mix
of new construction single-family homes, new
construction townhomes, a luxury new construction
mid-rise condominium building, adaptive reuse
condominiums, and restored officer mansions. The
single-family homes generally range from the high
$500,000s to over $1 million.
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15. Fort Sheridan
Highland Park, Illinois
H I G H L A N D PA R K A N D H I G H W O O D - ± 3 7 A C R E S | D e m o g r a p h i c S n a p s h o t
DEMOGRAPHIC REPORT
1 mile radius 3 mile radius 5 mile radius
A more detailed report of the 2010 Estimated Population 8,296 36,840 85,858
demographics for the area, which 2015 Projected Population 8,389 37,086 86,728
are summarized in the table to the 2000 Census Population 8,066 36,116 83,470
right, is available upon request. 1990 Census Population 8,366 35,706 80,439
Growth 2000-2010 2.85% 2.01% 2.86%
Growth 2010-2015 1.12% 0.67% 1.01%
2010 Estimated Median Age 34.73 37.83 40.68
2010 Estimated Average Age 35.44 38.22 39.09
2010 Estimated Households 2,666 12,548 29,950
2015 Projected Households 2,651 12,604 30,209
2000 Census Households 2,686 12,381 29,310
1990 Census Households 2,878 12,218 27,937
Growth 2000-2010 -0.73% 1.35% 2.18%
Growth 2010-2015 -0.56% 0.44% 0.86%
2010 Est. Average Household Size 3.08 2.82 2.79
2010 Est. Median Household Income $66,092 $104,207 $120,562
2015 Prj. Median Household Income $69,097 $107,870 $125,290
2000 Cen. Median Household Income $57,774 $93,175 $107,233
1990 Cen. Median Household Income $38,488 $63,756 $73,178
2010 Est. Average Household Income $100,762 $156,849 $170,221
2010 Estimated Per Capita Income $32,582 $54,116 $59,488
2010 Estimated Housing Units 2,839 13,125 31,163
2010 Estimated Occupied Units 2,666 12,548 29,950
2010 Estimated Vacant Units 173 577 1,213
2010 Est. Owner Occupied Units 1,366 9,621 25,314
2010 Est. Renter Occupied Units 1,300 2,927 4,636
2010 Est. Median Housing Value $413,831 $571,581 $559,713
2010 Est. Average Housing Value $520,610 $625,437 $625,499
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16. 16
Area Location Aerials
The Property
H I G H L A N D PA R K A N D H I G H W O O D - ± 3 7 A C R E S | P R O P E R T Y D E S C R I P T I O N