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IMMEDIATE AREA AFFECTING MARKETABILITY OF SUBJECT PROPERTY <br /> The subject property is located on the west side of the City of South Bend, <br /> specifically at the northwest corner of the intersection of Western Avenue and Olive Street. <br /> This is a busy intersection with a branch bank located at the northeast corner of Western <br /> and Olive, and a gasoline station located at the southeast corner. There are commercial <br /> buildings on the southwest side of the intersection. Olive Street is a heavily travelled <br /> artery going in a north-south direction, and Western Avenue is an extremely active artery <br /> going in an east-west direction. <br /> Historically, the land located north and east of the intersection was the location of <br /> the Singer Sewing Machine Manufacturing Company,which operated in the late 1800s and <br /> early 1900s. This encompassed several acres of land and several multistoried buildings. <br /> The Singer Co. left South Bend in the 1960s, and their property was purchased by <br /> Rommy Hammes, an investor, who turned a large portion of the old Singer Buildings into <br /> Marycrest Commercial Building. Also,the portion fronting on Olive Street was remodeled <br /> as the Rommy Hammes Ford Dealership. The corner was first turned into a restaurant,and <br /> later became a branch bank. <br /> The west side of the City for several blocks surrounding this intersection was <br /> largely populated by Polish Immigrants who worked in the surrounding factories. It was <br /> ( therefore only logical when the subject property became available that it was purchased by <br /> the PNA Fraternal Group as their Lodge Headquarters. This was within walking distance <br /> of many of the Polish homes and members of this alliance. <br /> Over the years, the ethnic composition of the surrounding neighborhoods has <br /> changed dramatically. Presently the Hispanic population has replaced the Polish <br /> population. Western Avenue continues to be a densely developed commercial artery. <br /> However, Hispanic businesses have replaced the former Polish business that were located <br /> along the street. It should be noted that Western Avenue is also known as SR 2. It carries <br /> traffic from downtown South Bend westward to LaPorte,Michigan City and Chicago. <br /> As a result of the changes in ethnic population,the PNA is no longer within walking <br /> { distance of most of its members.This undoubtedly has had an effect of the membership. <br /> { <br /> 10 <br />