05-26-15 Agenda, Packet & Committee Meeting Notice

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City of South Bend ffiecomeakwart ' • - Minis JMS Historic Building Res nryleprad vdlbSarrahryM Historic JMS Building C (filing ng ( g Pending) u� �DtidD re Limited Liability Company riNpwatidta wwe- gresfakescapital.com developer /sponsor"lisite 'fled d€ ' ° x ": °' Office f',A`i 14 40 15 CITY CLERK, MOUTH BEND, IN Bradley Toothaker gt PCTIP .w L � 14 I•w 1111165 Historic JMS Building LLC under contract for sale Director 574.251.4400 bctooUakar�grea5ekescapkel.com Partner btopthaken0greatlakescapital.com Great Lakes Capital, based in South Send, IN, as sponsor of the project, is a real estate private equity firm engaged in the development of a diverse portfolio of real estate assets. The Historic JMS Building LLC was fomrotl to purchase, renovate and reposition the primarily office structure into a mixed use commercial retail and muPo family property. Currently, the property is In poor condition and auffem from a large amount of obsolescence and extensive deferred maintenance. In addition, the building is over 75% vaunt and in need of extensive renovation in order to become economically viable. The JMS building is a historically significant landmark building (listed on tha National Historic Register), constructed in 1909 by John M. Studebaker, President of the former Studebaker Corporation. The budding In a beautiful eight S story stucure . believed to be the very first 100% concrete super structure built in dwmtown South Send. In addition, the building's elegant Terre Colts exterior is one of only 2 remaining downtown structures with Terre Coda exteriors and the only such multi story building of its style and type. Beyond the historical significance, restoration of the JMS building will add a great deal of notoriety and affirmation to the evolving redevelopment efforts In downtown South Bond. As such, this renewal effort will serve as a comerstone project signxtcantly contributing to the vitality of the downtown core area. 106.110 North Main St nP South Band, IN 46601 seeafeApproximately jZ 0.4 acres rsfeet offasNNy Approximately 65,000 sq ft ��YOatrlgaMTdrlf3Qfisnx Bryse Toolhaker 112West Jefferson Blvd, tY :sty ziP _, South een4 1N 46601 'fled d€ ' ° x ": °' Office f',A`i 14 40 15 CITY CLERK, MOUTH BEND, IN Bradley Toothaker gt PCTIP .w L � 14 I•w 1111165 Historic JMS Building LLC under contract for sale Director 574.251.4400 bctooUakar�grea5ekescapkel.com Partner btopthaken0greatlakescapital.com Great Lakes Capital, based in South Send, IN, as sponsor of the project, is a real estate private equity firm engaged in the development of a diverse portfolio of real estate assets. The Historic JMS Building LLC was fomrotl to purchase, renovate and reposition the primarily office structure into a mixed use commercial retail and muPo family property. Currently, the property is In poor condition and auffem from a large amount of obsolescence and extensive deferred maintenance. In addition, the building is over 75% vaunt and in need of extensive renovation in order to become economically viable. The JMS building is a historically significant landmark building (listed on tha National Historic Register), constructed in 1909 by John M. Studebaker, President of the former Studebaker Corporation. The budding In a beautiful eight S story stucure . believed to be the very first 100% concrete super structure built in dwmtown South Send. In addition, the building's elegant Terre Colts exterior is one of only 2 remaining downtown structures with Terre Coda exteriors and the only such multi story building of its style and type. Beyond the historical significance, restoration of the JMS building will add a great deal of notoriety and affirmation to the evolving redevelopment efforts In downtown South Bond. As such, this renewal effort will serve as a comerstone project signxtcantly contributing to the vitality of the downtown core area.