Phase 1 Budget

Total Phase 1 Budget: $1,757,600 (100%)

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Breakdown by Major Deliverable (with supporting rationale and 2026 market ranges):

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• Building Envelope Restoration (full weather-tight envelope: roofs, walls, windows, doors – priority for historic asset protection and storm damage remediation) Refined Allocation: $685,000 (~39%)

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Detailed Allocation: $685,000 (39.0%)

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• Roof replacement & repairs (multi-building historic scope): $320,000

• Exterior wall/masonry restoration & sealing (storm damage remediation): $185,000

• Window & door restoration/replacement (historic-compatible, energy-efficient): $140,000

• Flashing, gutters, sealing & miscellaneous envelope: $40,000

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Rationale: Chicago-area historic/commercial roof replacement averages $6–$18/sq ft (asphalt/metal); full envelope (roof + walls + fenestration) for a multi-building campus typically runs $150–$300+/sq ft for complex restoration. Allocation prioritizes weather-tight integrity first to prevent further deterioration.

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• MEP Infrastructure & BESS (complete replacement of electrical, water/sewer, resilient fiber systems + 250 kW / 500 kWh Battery Energy Storage System) Refined Allocation: $615,000 (~35%)

 

Detailed Allocation: $615,000 (35.0%)

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• Electrical systems (full replacement & code compliance): $210,000

• Water & sewer systems (full replacement): $145,000

• Resilient fiber optic & communications infrastructure: $65,000​

• 250 kW / 500 kWh BESS (hardware, installation, integration & commissioning): $195,000

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Rationale: MEP systems in gut-level historic renovations range $100–$250+/sq ft in Chicago; commercial BESS installed costs average $360–$690/kWh (mid-range ~$500–$550/kWh selected for 500 kWh capacity yields ~$250K–$275K hardware + installation/integration). Combined allocation reflects full utility replacement plus energy resilience for code compliance and long-term reliability.

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• Historic Church Oratory Conversion (new flooring, MEP systems, interior restoration of the historic church space) Refined Allocation: $225,000 (~13%)

 

Detailed Allocation: $225,000 (12.8%)

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• New flooring installation (durable, code-compliant): $85,000

• Targeted MEP integration (lighting, HVAC tie-ins, plumbing): $75,000

• Interior finishes & historic restoration elements: $45,000

• Fixtures, millwork & final fit-out: $20,000

 

Rationale: Church/oratory adaptive reuse and interior fit-out typically $180–$300+/sq ft for historic spaces; focused scope (flooring + targeted MEP + finishes) keeps costs controlled while activating a key community asset.

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• Security & Site Protection (perimeter security fencing + 9 months of overnight security services) Refined Allocation: $132,600 (~7.5%)

 

Detailed Allocation: $132,600 (7.5%)

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• Perimeter security fencing (commercial-grade chain link/steel, installed): $52,600

• Overnight security services (9 months, 12-hour shifts, 7 days/week): $80,000

 

Rationale: Commercial security fencing in Illinois averages $8–$25/linear ft installed; overnight unarmed security services $15–$30/hour. 9-month coverage plus perimeter installation provides full site safeguarding during and post-construction.

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• Architecture, Engineering & Permitting Services (comprehensive A/E services and full permitting) Refined Allocation: $100,000 (~5.7%)

 

Detailed Allocation: $100,000 (5.7%)

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• Architectural & engineering design services: $72,000

• Structural/mechanical/electrical engineering coordination: $18,000

• Permitting, inspections & regulatory compliance: $10,000

 

Rationale: Historic renovation A/E fees typically 7–15% of hard costs (lower end applied here for efficiency); includes all design, engineering coordination, and regulatory approvals to ensure seamless code compliance.

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Total: $1,757,600

 

Embedded Contingency: $210,000 (~12% across all categories) – allocated proportionally for weather delays, material escalation, or hidden storm damage typical in 2023-damaged historic sites.

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Budget Summary & Key Drivers

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• Phase 1 Total Investment: $1,757,600 (~11.6% of full $15.157M campus)

• Hard Costs (Envelope + MEP/BESS + Oratory + Security): $1,557,600 (88.6%)

• Soft Costs (A/E & Permitting): $100,000 (5.7%)

• Contingency: $210,000 (12%) – standard for post-storm historic restoration

• Primary Cost Drivers: Envelope (39%) and MEP/BESS (35%) – critical for immediate safety, code compliance, and energy resilience

• Market Alignment: Calibrated to April 2026 Chicago/Riverdale conditions, including labor rates, historic preservation premiums (15–25% uplift), and resilient infrastructure benchmarks

• Projected Early ROI: Operational Empower Skills Training Wing by January 2027 generates initial workforce development and corporate training revenue to support seamless transition into Phase 2 (February 2027).

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Alignment with Overall Project & Risk Mitigation

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This $1,757,600 investment delivers:

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• Fully secured, weather-tight, code-compliant campus​

• Resilient 250 kW / 500 kWh BESS and modern utilities​​

• Protected historic assets ready for education, health, and eventual boutique hotel phases

 

Risk Mitigation:

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• 12% contingency for weather/supply chain issues​

• Performance bonds and early permitting engagement​​

• Aggressive 10-month schedule with built-in buffers

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Transition to Phase 2

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Phase 1 completion in January 2027 directly hands over a stabilized, infrastructure-ready campus for immediate launch of school restorations, training programs, and enrollment of 500+ participants in February 2027.