the residences at hamilton lakes

THE RESIDENCES AT
HAMILTON LAKES
NEW MULTIFAMILY DEVELOPMENT
• RENOWNED HAMILTON LAKES BUSINESS PARK • SUBURBAN CHICAGO • 297 LUXURY UNITS •
HAMILTON PARTNERS
300 Park Blvd
Itasca, IL 60143
MARK HAMILTON
Phone: 630.697.0200
Email: [email protected]
RON LUNT
Phone: 630.250.9700
Email: [email protected]
CENTRAL LOCATION
RENTAL MARKET OVERVIEW
CONCLUSION
Fox Lake
94
45
Waukegan
From 1990 to 1999 there was parity in the rent/own equation, loan
requirements
were stricter,
and there was a lower availability of for-sale housing
Round
Lake
stock as compared to today. During this time, rents for
luxury apartments enjoyed
a 3.6% average yearly growth rate. The softening of apartment
Gurnee
Grayslake
fundamentals from 2001 to 2005 was a disruption of this long-term, steady positive growth trend in multifamily in Chicago.
120
North
120
When the apartment market returned from 2005 to 2007, it was in the following context: Chicago
25 MILES
Single-family housing prices soared, due largely to historically lax underwriting standards and low interest rates, and removed any economic
21
•
137
advantage
of home ownership.
31
58
•
176
Lake Bluff
Libertyville
176
Wauconda
Home ownership rates stabilized well above sustainable levels. Even with recent drops, home ownership rates are 3% to 4% above the
43
Mundelein
historical mean.
LAKE
Since then,
•
12
Lake Forest
60
Lake Zurich
Home buyers haveCary
returned to the rental market due to tightening credit standards, and
22
PROPERTY
SUMMARY
•
Employment
uncertainty
rental
Long
Grovepool.21
14 has kept potential home buyers in the
41
22
15 MILES
Lincolnshire
Unit Amenities:
Highland Park
Barrington
83
Deerfield
Number fo Units:
252
Rents in the suburban market are approximately 27% below the 10-year trend
line established
from 1990
decline of the for-sale
• Attached
Garages (select
units - to
as 1999.
detialed The
below)
Address:
6690 Double
EagleinDrive
LAKE
single-family
housing market
is resulting
the return to a balancedBuffalo
rent/own
Grovemarket.
11 Direct Access
to 3BR unit Glencoe
MICHIGAN
68
Woodridge, IL (DuPage County)
68
Palatine
99 Accessible via Common Area Hallway
Wheeling
Unemployment
has already
add jobs, demonstrated
by Northbrook
job growth in each of the rst four months of 2010.
Year Built:
1996 peaked and the market is starting to 12
Winnetka
110 Total Attached Garages
Northfield
Consistent
with
historical
performance,
the
long-term
employment
outlook
for
Chicago
is
positive,
and the
rental apartment market is well positioned
Location:
adjacent to Seven Bridges Golf Course, along
Arlington Heights
for continued growth in the
rents
with
historically
Full-sized washer/dryer in all units Kenilworth
eastcommensurate
and west sides
Double
Eagle high construction• costs.
62 of
31
58
294
Drive, approximately 1/4 mile north of
25
58
94 gas-¿Wilmette
14
43individual
Central
air conditioning
andboth
red forced
airthe
heating
Mount
Prospect
Despite occupancies below
historic norms, suburban Chicago’s occupancy of •92.7%
and
Downtown are
improving
and
conrm
underlying
90 Hobson Road
Glenview
21
strength of the market. A vacant apartment
development
pipeline
combined
with
strengthening
apartment
demand
is
expected
to
push
rents
in both
• Vaulted ceilings in select
72
58 units
Site Size:
+/- 13.19 acres
58 lines of 3.6% by 2013, if not sooner. A normalized housing market and favorable demographic trends are expected
markets
Elginback towards historical trend
• Wood burning ¿replace in select units
Evanston
Building Description: 10 three-story apartment buildings and
Skokiean opportunity for outsized
to provide a boost beyond59recent market performance above the market’s historical
Desmean,
Plaines therefore, the next decade presents
1 cluhouse building
Schaumburg
Walk-in closets
• Ceiling fan(s)
90 • growth.
returns for apartment investors because of the probability for above-average rent
Lincolnwood
19 Garage Spaces
Parking Spaces:
110 Attached
290
E lg
g in O ’ H a
Park
Ridge
20
14
•
Private
patio
or
balcony
•
Intrusion
alarm
re E x
pres s
O'Hare
110 Tandem Parking Spaces
wa y
Airport
Common Area Amenities: 90
260Hanover
Surface
ParkParking Spaces
Bloomingdale
Bloom
miingddale
m
l
Norridge
480 Total Parking Spaces BBl
• Elevators
• Outdoor pool and spa
COOK
5 MILES
G a ry A v e .
St. Charles
31
58
19
Building
exteriors
are a combination of
Army Tra
il Rd.
20
brick veneer and painted cedar siding, 14
on masonry and wood frame, with
Addison
Carol
Stream
59
reinforced
concrete
slab
foundations
64
59
38
59
DU PAGE
B loomingda le R d.
Exterior:
290
• Clubhouse with great room offering ¿replace, gourmet kitchen and
lounge area, ¿tness center and business center
Franklin
Park barbecue
• Picnic area with
64
59
355
Chicago
290
38
59
25
58
Oak Brook
56
56
34
14
Naperville
90/94
Burr
Ridge
Downers
Grove
355
55
La Grange
34
14
88
Aurora
Cicero
88
Warrenville
90/94
• Children’s play area
Oak
Park
Lombard
Glen Ellyn
COOK
55
Midway
Airport
294
MODERN DESIGN WITH TIMELESS FEATURES
AERIAL NORTHEAST
294
DES PLAINES
Allstate
Arena
90
72
E TOUHY AVE.
FUTURE I
ELK GROVE VILLAGE
Largest Consolidated Business Park in North America
Over 3,600 Businesses Employing Nearly 100,000 People
All Within 5.9 Square Miles
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EVO
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AVE.
Itasca Country Club
K
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RV
P
ING
ROSEMONT / O’HARE
Rivers
Casino
13 Million SF of Oflce Space
100 Million SF of Industrial Space
220,000 Jobs
90
O’HARE INTERNATIONAL
AIRPORT
I-390 ELG
IN O’HARE
WESTERN
ACCESS
ITA
ASCA ME
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AERIAL NORTH
Busse Woods
SINGLE FAMILY HOMES
Alexian Brothers
Medical Center
Elk
Town
Alexian Brothers
Rehabilitation Center
Walmart Supercenter
SINGLE FAMILY HOMES
53
390 ELG
IN-O’
HARE
EXPR
ESSW
AY
HAMILTON
VILLAGE
290
HAMILTON LAKES BUSINESS PARK
AR
LIN
GTO
NH
EIG
HTS
RD
3.5 Million SF of Office Space
80 Acres of Development Land
8,000 Jobs, Adding 600+ Jobs by 2016
SINGLE FAMILY HOMES
E IRVING PARK RD.
Itasca
DOWNTOWN
ITASCA
Itasca
METRA M
ILWAUKE
E DISTRI
CT / WES
T
LIN
ELK GROVE VILLAGE
k Grove
n Center
SINGLE FAMILY
F
HOMES
DEVON AVE.
WOO
WOO
O DF
DFIELD
DFI
FIELD
FI
ELLD
EL
D MA
MALL
L
Salt Creek Golf Club
Topgolf Chicago
N PROSPECT AVE.
E THORNDALE AVE.
North Salt Creek Country
Forest Preserve
NEW
W ZU
ZURIC
ZURIC
R CH HQ
WOOD DALE
a Country Club
NE - CHI
CAGO TO
ELGIN
Target
Jewel-Osco
BU
BU
BUS
BUSS
USSE
SE WOO
WOOD
DS
DS
AERIAL NORTHWEST
290
Hirano
Japanese
Shula’s
Steakhouse
HAMILTON VILLAGE
HAMILTON LAKES BUSINESS PARK
3.5 Million SF of Office Space
80 Acres of Development Land
8,000 Jobs, Adding 600+ Jobs by 2016
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SINGLE FAMILY HOMES
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HAM
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Salt Creek Golf Club
Topgolf Chicago
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THREE LUXURY MID-RISE BUILDINGS + 8,000 SF CLUBHOUSE
PROPERTY DATA SHEET
SITE LOCATION
The site is located near the intersection
of Arlington Heights Road and the current
Elgin-O’Hare Expressway (aka EOWA I-390)
COUNTY
DuPage
SUBMARKET
Schaumburg-O’Hare-GlendaleLombard
LAND AREA
10.7 Acres
BUILDINGS
3
STORIES
4-5 Residential
Lower Level Enclosed Parking
ZONING
R-3 PUD Special Use
SPONSOR/DEVELOPER
M&R Development
Hamilton Partners
ARCHITECT
BSB Design
CONSTRUCTION START
September 2015
PROJECT COMPLETION
February 2017
PROJECT STABILIZATION
September 2017
APARTMENT UNITS
297
AVERAGE UNIT SIZE (SF)
898
TOTAL SIZE (SF)
266,703
GROSS RESIDENTIAL SF
333,756
PARKING & STORAGE SF
83,439
TOTAL GROSS SF
417,195
EFFICIENCY
80%
PUBLIC SURFACE PARKING
294 Spaces
ENCLOSED PARKING
219 Spaces
TOTAL PARKING
513 Spaces (1.72 per Unit)
UNIT
AMENITIES
•
•
•
•
•
9 Foot Ceilings
Hardwood Floors in all areas except Bedrooms and
Baths
Full Size Stackable Washer/Dryer
Quartz Countertops in Kitchens
Backsplash in Kitchen Pendant and Track Lighting
in Kitchen and Dining Areas
Energy Star Stainless Steel Dishwasher, Disposal,
and Range/Self Clean Oven
Energy Star Stainless Frost-Free Refrigerator with
Automatic Ice-Maker
Computer Niches in Select Units
Double-Bowl Vanity Sinks in Most Floor Plans
Spacious Walk-In Closets
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Outdoor Pool
Indoor Pool
Steam Room and Sauna
3 Season Patio with Fireplace
Fitness Center with Aerobic and Weights
Pilates/Yoga Fitness Studio
Media Room
Social Lounge and Party Kitchen
Business Center
Wi-Fi Available throughout Clubhouse
Bike Repair and Storage Room
Pet Grooming
Storage Units available
Dry Cleaning and Package Pickup and Delivery
Indoor Parking (219 total spaces)
•
•
•
•
•
COMMON
AMENITIES
SITE PLAN
SUMMARY UNIT MIX
Unit Mix & Current / Stabilized Rental Rates
Project Mix:
Studio
Studio
1Ba/1Bd
1Ba/1Bd
1Ba/1Bd
2Ba/2Bd
2Ba/2Bd
3Ba/2Bd
Totals
Averages
Avg SF
435
615
705
802
811
1,088
1,236
1,410
266,703
898
# Units
3
18
96
24
48
48
48
12
297
% of Total
1.0%
6.1%
32.3%
8.1%
16.2%
16.2%
16.2%
4.0%
100.0%
PROPOSED ARCHITECTURE
Given the contextual surroundings of the stone, steel, and glass character of the Hamilton Lakes community,
the project’s overall character will feature a contemporary appearance. The building’s styling and look
will be reminiscent of urban contemporary design with a flat roof and materials that will enhance the
project theme, including cornice parapets, stately balconies and alternating sections of brick veneer and
cementitious panel siding exteriors. The use of two color tones of both brick and cementitious panel siding
will add variety and interest to the building’s exterior. In addition, the rectangular façade offsets will project
in height slightly to offer some ‘bounce’ in the line of the roof, thus adding further variety and interest to
the building’s appearance.
THE UNITS
The Residences at Hamilton Lakes will be constructed with finishes appropriate to custom condominium
construction standards, making it one of the premier luxury apartment communities in the Chicago Suburbs.
The units are well designed with spacious living rooms, comfortable dining areas and large, open kitchens.
All units will have 9-foot ceiling heights. The modern kitchens will feature quartz countertops, pendant
lighting, upgraded 42” cabinetry, a complete Energy Star stainless steel appliance package including
refrigerator, dishwasher, gas range, microwave, and garbage disposal.
The entryway, kitchen, living and dining areas will all have hardwood flooring. Bathrooms will include
bathtubs with ceramic tile surround or oversized standing showers with an upscale glass feature, upgraded
vanity cabinetry and fixtures with a monolithic countertop, as well as ceramic tile flooring.
Every apartment home will offer neutral carpeting in the bedrooms. All units include either a stackable full
size or side-by-side washer/dryer depending on the floor plan. Other interior features will include a built-in
home office/computer niche, walk-in closets, entry closets, linen closets, storage closets, and individually
controlled heating and air conditioning systems. Every residence will be cable-ready with wired with CAT 6
internet cabling.
COMMON AREA AMENITIES
The Residences at Hamilton Lakes’ luxurious common area amenity package will cater to the sophisticated
renters’ needs. The communities’ stunning state-of-art clubhouse amenity areas will be centrally located
with convenient access from all residential buildings. The clubhouse will include an upscale outdoor pool
and spa, outdoor BBQ area and pavilion. These features are all part of a beautifically landscaped setting.
Interior features include a fitness center featuring cardio and strength training equipment, a group fitness
studio, sauna and steam room, cyber lounge, demonstration kitchen, a business center and media room.
Pet friendly amenities include a convenient pet spa and quality open space for dog walking. Residential
storage lockers for residents’ use will be provided on individual floors and the lower level garage area.
Bike storage will be provided in the lower level garage along with a variety of convenient locations outside
throughout the Property.
Residents will also have use of on-site dry cleaning, package pickup and delivery. Wi-Fi will be available
throughout the building’s common areas. Additional common area amenities of note include: controlled
building access via fob access, 2 residential elevators per building, and on-site management and leasing
offices. Each building will also contain a dual trash and recycle chute system with a lower level collection
room. These exclusive amenities will enhance The Residences at Hamilton Lakes’ reputation as one of the
premier apartment buildings in Suburban Chicago.
PARKING
The Residences at Hamilton Lakes will have a total of 513 parking spaces of which 219 will be contained
in an enclosed parking garage within each building. Each building will contain 73 parking spaces located
in the lower level of each building. There will also be an electric car charging station in each building.
STRUCTURAL DETAIL
OVERVIEW
The three residential building are constructed with a reinforced concrete garage level below 4 floors of
energy efficient wood frame residential construction. Each building has one drive-in door at garage level
and a main residential lobby at courtyard level.
FOUNDATION
Given the excellent bearing capacity of the native soils, conventional spread footings and cast-in place
concrete foundations will be employed.
PARKING GARAGE
Each residential building has one reinforce-concrete garage level providing indoor parking.
EXTERIOR WALLS
The residential exterior envelope consists of a combination of brick, architectural cement−board panels,
and glass.
INTERIOR WALLS
Wood framing integrated into selected and approved UL-rated assemblies.
ROOF
The residential structures have heavily insulated white surface flat roofing system, engineered for interior
roof drainage. Portions of each roof system will be utilized for mechanical systems.
MECHANICAL DETAIL
HVAC
Each residence has an individual high-efficiency heating and cooling system for independent resident
control and energy economy.
ELECTRICAL
Each residence will be individually metered and each resident will be responsible for their own electrical
costs. Lighting systems throughout will comply with LEED guidelines for energy conservation.
PLUMBING
The plumbing system incorporates low-flow premium plumbing fixtures into a system designed to provide
the most current conveniences while meeting LEED standards for water conservation.
FIRE & LIFE SAFETY
Each building and every resident is fully protected by a fire sprinkler system and fire alarm system. All Life
Safety systems are monitored 24/7.
COMMUNICATIONS
CAT 6 and Coaxial cable will be installed in each residence to provide residents with maximum flexibility.
ELEVATIONS
FRONT ELEVATION
RIGHT ELEVATION
ELEVATIONS
REAR ELEVATION
LEFT ELEVATION
SIGNAGE PLAN
GARAGE FLOOR PLATE




ELEVATIONS
AMENITY SPACE: FRONT ELEVATION
AMENITY SPACE: SIDE ELEVATION
AMENITY SPACE: FRONT PERSPECTIVE
AMENITY SPACE OVERVIEW
THE RESIDENCES AT HAMILTON LAKES: CLUBHOUSE (7,391 SF)
AMENITY SPACE: FLOOR PLAN
THE RESIDENCES AT HAMILTON LAKES: CLUBHOUSE
AMENITY SPACE: FLOOR PLAN
FIRST LEVEL FLOOR PLATE
SECOND LEVEL FLOOR PLATE
THIRD LEVEL FLOOR PLATE
FOURTH LEVEL FLOOR PLATE
FLOOR PLANS
STUDIO
UNIT TYPE: STUDIO - TYPE A
UNIT COUNT: 3
UNIT SF: 435
FLOOR PLANS
STUDIO
UNIT TYPE: STUDIO - TYPE B
UNIT COUNT: 18
UNIT SF: 615
FLOOR PLANS
1BD/1BA
UNIT TYPE: 1BD/1BA - TYPE C
UNIT COUNT: 96
UNIT SF: 705
FLOOR PLANS
1BD/1BA
UNIT TYPE: 1BD/1BA - TYPE D
UNIT COUNT: 24
UNIT SF: 802
FLOOR PLANS
1BD/1BA
UNIT TYPE: 1BD/1BA - TYPE E
UNIT COUNT: 48
UNIT SF: 811
FLOOR PLANS
2BD/2BA
UNIT TYPE: 2BD/2BA - TYPE F
UNIT COUNT: 48
UNIT SF: 1,088
FLOOR PLANS
2BD/2BA
UNIT TYPE: 2BD/2BA - TYPE G
UNIT COUNT: 48
UNIT SF: 1,236
FLOOR PLANS
3BD/2BA
UNIT TYPE: 3BD/2BA - TYPE H
UNIT COUNT: 12
UNIT SF: 1,410