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Mr. John Oxion Historic Preservation Commission of South Bend & St. Joseph County Re: Oliver Chilled Plow Works Buildings 46 and 47 - Forge 2 March 20, 2002 Page 6 We were surprised at the magnitude of this estimate. Breaking it down by building, the average cost for each was $165 /SF for Building 46 and $120 /SF for Building 47. We have recently worked on a similar project in Indianapolis to convert an old automobile factory into an auto museum. The Construction Manager for the project, Shiel Sexton, Inc. indicated that project costs are estimated to be $80 /SF for the 40,000 SF facility. The overall condition of that 1920's facility is better than Forge 2; however, it isn't 1 %z to 2 times as good. Using the $80 /SF value for the Forge 2 building results in a budgetary estimate of $4M. - Finally, a budgetary estimate was developed assuming the two building are simply stabilized and made usable for general storage purposes. Stabilization in this instance has been assumed to include the following work tasks taken from the Ziolkowski Construction, Inc. estimate. - Building Demolition #46 & #47 $248,400 Concrete Work (patching/floor topping) 225,000 Building #47 (roof/floor) 175,500 Building #46 (basement/1 floor) 115,400 Masonry Restoration 214,000 Structural & Misc. Steel Building #47 86,000 Building #46 54,500 Thermal & Moisture Protection (roof) 346,600 Doors and Windows Exterior Doors 37,500 Fire Protection 105,000 $1,382,900 Windows Building #46 160,000 Sawtooth Skylights 225,000 Building #47 185,000 Clearstory 200,000 $770,000 This results in a budgetary estimate of SIAM to $2.2M depending upon the extent of work performed on the windows. In all honesty, budgetary estimates of repairs of this magnitude based -upon a one -day study of a 50,000 SF facility are more guestimates than estimates. A reasonable next step would be for us to sit down with the potential user group and develop a set of Design Development Plans and Specifications suitable for more accurate pricing. These could include alternates such that the various proposed repairs range from "stabilization" to a full scale build -out of the proposed museum with all the "bells and whistles ". This next phase doesn't have to be expensive but is probably necessary before a reasonable judgement can be made based on cost.