Roosevelt Road/Taft Avenue Hotel Sites Ad Hoc Work Group

Agenda Village of Glen Ellyn Roosevelt Road/Taft Avenue Property Redevelopment Working Group Wednesday, April 6, 2022 7:00 PM Glen Ellyn Police Department Community Room 65 S. Park Blvd., Glen Ellyn, IL 60137 Meeting Procedures Statement Visitors are most welcome to attend all meetings of the Ad Hoc Working Group and can find copies of the Agenda on their chairs or online at www.glenellyn.org prior to the meeting. Any individual with a disability requiring a reasonable accommodation in order to participate in a meeting should contact The Village of Glen Ellyn ADA Coordinator, 630-469-5000, at least five (5) business days in advance of the next scheduled meeting. A. Call to Order B. Roll Call C. Ad Hoc Working Group Introduction D. Open Meetings Act (OMA)/Freedom of Information Act (FOIA) Trainnig E. Audience Participation 1) Members of the public are welcome to speak to any item not specifically listed on tonight's agenda for up to (3) three minutes. For those items which are on tonight's agenda, the public will have the opportunity to comment at the time the item is discussed. In either case, please complete the Audience Participation form and turn it in to the Working Group. It is requested that, if possible, one spokesman for a group be appointed to present the views of the entire group. Speakers who are recognized are requested to step to a microphone and state their name, their topic and the group, if any, they are representing prior to addressing the Working Group. Individuals wishing to address the Working Group shall exercise proper decorum and respect for the proceedings and the business of the Working Group, and shall refrain from abusive demeanor and language. The practice of ceding time to other speakers shall be prohibited, except in the discretion of the presiding officer of the meeting. Public officials are not obligated to respond to questions. F. Discussion 1) Available Information: Roosevelt Road Hotel Properties Redevelopment 2) Public Feedback Received To-Date G. Next Meeting Date H. Adjourn Village of Glen Ellyn Page 1 of 44  Glen Ellyn Roosevelt Road/Taft Avenue Meeting 4/6/2022 7:00 PM Hotel Site Ad Hoc Work Group Department: Administration 535 Duane Street Department Head: Glen Ellyn, IL 60137 Category: Other Prepared By: AGENDA ITEM (ID # 2022-2080) DOC ID: 2022-2080 Available Information: Roosevelt Road Hotel Properties Redevelopment Statement of the Issue: Information regarding the Roosevelt Road hotel properties available on the Village's website here. These documents include staff memos, presentations, contracts, ordinances and other documents, as listed below:  Open House Presentation - Part 1  Open House Presentation - Part 2  Public Engagement Process Presentation  Village Board Memo Public Engagement Process  Village Board Memo Design Charrette Process  Village Board Memo Hotel Property Acquisition  Village Board Memo Kon Savoy Contract  Roosevelt Road Hotel Properties RFP Presentation  Ordinance Approving Purchase and Sale Agreement - Hotels 675-677 Roosevelt - 2021  Press Release - Hotel Closing  Press Release - Hotel Purchase & Sale Agreement  Request for Proposals (RFP)- Developer Recruitment Services  2021 Draft Comprehensive Plan Concept Plan  Phase I ESA  Appraisal - 675-677 Roosevelt Road - Hotels  2021Property Survey 2021  Glen Ellyn Roosevelt Road Market Analysis 12-20-21 In addition to the above documents, staff has attached the Market Analysis, a general site map and draft Frequently Asked Question's document for your reference. Analysis: Budget Impact: Page 2 of 44 Action Requested: Attachments: 1. Glen Ellyn Roosevelt Road Market Analysis 12-20-21 2. Site Location Map 3. RR Hotel FAQ_04.07.22 Page 3 of 44 Glen Ellyn Redevelopment Roosevelt and Exmoor Glen Ellyn, IL Market Analysis DATE December 2021 PRODUCED FOR Village of Glen Ellyn Page 4 of 44 I. SUMMARY AND CONCLUSIONS 1 II. RESIDENTIAL MARKET 5 III. RETAIL/RESTAURANT MARKET 18 IV. OFFICE MARKET 22 V. APPENDIX 26 Page 5 of 44 SUMMARY AND CONCLUSIONS These can be at a variety of price points. Attached, for-sale homes are an important part of a Sites community’s housing mix for the same reasons. The focus of this analysis is the potential Retail/Restaurant redevelopment area of the hotel property between Roosevelt Road and Taft Avenue on the north and There is demand for 15,000-25,000 square feet of south, and on both the east and west sides of new retail space at this location. This would be Exmoor Avenue in Glen Ellyn. The site is comprised either a free-standing building or a strip shopping of two existing hotel buildings and their parking lots. center focused around an anchor store on the ‘‘end cap.’’ In either scenario a particular interested user The total site area is approximately 2.2 acres. It is would drive the development layout. Achievable possible that Exmoor Avenue will be vacated as a retail rents near the top of the market appear to be public street and made part of a redevelopment, in the mid-$20s per square foot triple net per year, though it is not known whether such a layout would with the tenant's pro-rata share of taxes, insurance, retain ingress/egress onto Taft Avenue. and common area maintenance additional. However, a chain with specific needs may pay up to Roosevelt is a major commercial corridor through $35/SF/year. the western suburbs, including Glen Ellyn, with approximately 35,000 average daily trips in this Also, materials and construction costs are a vicinity as of 2019. The streets north and south are challenge at this time, pushing necessary rents in primarily residential in character. This location is general toward this $30-$35/SF level once tenant- appropriate for multiple uses. and ‘‘vanilla box-’’ improvements are made -- - installing basic finishes and climate control. For a Development Potential restaurant or drive-through, this could push the net rent to $40/SF. Not all retailers can pay this much, Residential but some can. It will just take finding the right user. Residential use has high development potential. Market statistics from international brokerage Realtors are positive about the market demand for CBRE and real estate data service Reis show a for-sale residential development, including healthy local retail market overall despite the townhouses, other attached single-family housing, challenges facing all bricks-and-mortar retail. condos, and apartments. The site is not appropriate Broker commentary paints a positive picture as well. for single-family housing, which is also not the These factors support retail development on the “highest and best use” at this location. Market Roosevelt Road frontage at this location. support exists for new market-rate and affordable (senior and non-age-restricted) apartments. High quality apartments can cater to a wide range of ages including later middle-aged people and seniors downsizing from single-family homes, and younger households who can't afford to buy a house in the village or who prefer to rent for another reason. 1 Page 6 of 44 Office subject's co-location with these businesses would be positive for retail development here. Attention Commercial brokers and owners see minimal needs to be given to the Firestone facility between demand for new office space, but local service the site and the Starbucks and Chipotle to maximize providers could be tenants in the Taft frontage of a the benefit. new shopping center if they are not too price sensitive. The Roosevelt Road frontage should be Retail brokers emphasize the reduced value and reserved for retail use. Some brokers indicated that appeal for retail without Roosevelt Road frontage. medical offices could be part of the mix. However, However, extending a retail building south to Taft this would only work if there were a "tenant in hand", should be viable if there is good landmark signage such as a local medical or regional user looking to and if a vacated Exmoor Road is designed for easy relocate or expand. customer access, which could include ingress and egress on Taft. (Any signage would need to meet the Market statistics and broker commentary are Village’s signage standards and would be tailored negative regarding the East-West suburban and for appropriateness in this location.) Glen Ellyn office markets. Without a tenant "in hand," there is not support for new office Residential buildings could be built entirely along development. the Taft frontage, if retail is restricted solely to the northern part of the site. It also would work to the Site Recommendations east and west of a retail building if the retail extends south to Taft in a straight line. The eastern part of Multiple options for redevelopment exist from a the site along Taft already contains a hotel, so the market standpoint. Within some constraints, footprint is likely similar to what a new multi-family designers and the community will be able to building would require. Townhomes could be west of determine the best mix given the space available the current Exmoor alignment. and possible configurations. Some options are: Proximity to Panfish Park and its trail system to the Retail could be developed solely on the Roosevelt- south is a major plus for residential development. fronting portion with residential development to the This amenity provides an attractive environment for south along Taft. This can include a mix of successful townhouses along the park’s eastern residential types. Alternately, retail could reach side. Other amenities include two grocery stores in farther south to Taft in a north-south linear walking distance, multiple restaurants, proximity to arrangement but would not include portions of the employers, major commuting routes, and bus site east and west along Taft. service by two Pace routes accessing Metra. The Roosevelt Road frontage is only approximately However, the existing townhouses are more 125 feet. This is not sizeable but is similar to the sheltered from traffic, noise, and adjacency to the nearby Jimmy John's at Roosevelt Road and Park fire station than the Exmoor sites, so sale prices Boulevard, immediately east (approximately 110 here would need to be lower. Realtors indicated that feet). The adjacent Chipotle and Starbucks together townhouses at this location should be in a middle have 200 feet of Roosevelt frontage, and their price range, at $250,000-$300,000 today for 1,800 location adjacent to other shopping creates greater square foot units with basements and two-car benefit for them. A site design that exploits the attached garages (basement not included in the 2 Page 7 of 44 total square footage). For condos, pricing could be similar for three-bedroom units with indoor parking. To fetch the same price as townhouses, interior finishes would need to be higher quality. These units would attract younger households that might not be able to afford a single-family home in Glen Ellyn, as well as middle-aged households looking for a less maintenance-intensive option. A condo or apartment building of 4-5 stories would be appropriate given the commercial character of Roosevelt Road. Three-story structures are common in the surrounding neighborhood, and the nearby Brookdale Glen Ellyn senior building is 5 stories. The location across from open space with excellent access to shopping along Roosevelt Road makes this a desirable residential location. Although there have been few recent comparable land sales in Glen Ellyn, an appraisal prepared for the Village provided the following sales comparables.  Bucky's gas station, $16.96/SF in 2017 with 300 feet of frontage at 1125 Roosevelt Road.  Mattress Firm at 369 Roosevelt Road (east of Lambert), $21.70/SF in 2015 (141 feet on Roosevelt)  A car wash at 290 Schmale Road in Carol Stream, $19.84/SF  Culver's in Naperville, $17.85/SF with 217 feet of primary frontage on Naperville-Wheaton Road  A restaurant in Naperville, $23.81/SF in 2019 for 127-194 feet of primary frontage Based on the ultimate use, construction costs, sales or rent rates, a developer will determine what he or she can afford to pay for the land. 3 Page 8 of 44  NEWTON PARK ATRIA PARK OF GLEN ELLYN [SENIOR LIVING] STEPHANIE LN DUPAGE BLVD SOUTH SIDE PARK EXMOOR AVE BROOKDALE 1776 SENIOR MAIDEN LN GLEN ELLYN CARE POST OFFICE [SENIOR LIVING] [SENIOR SERVICES] FAITH LUTHERAN CHURCH PARK PLAZA ALDI TRADER NICOLL WAY BINNY’S JOE’S AVE RETAIL BLDG U.S. [MULTIPLE TENANTS] 5/3 RETAIL BLDG BANK SID E BANK [MULTIPLE TENANTS] PAR JIMMY RETAIL DANBY’S K JOHN’S ADVANCE ROSIN STATION FANNIE OFFICE RETAIL BLDG AUTO CAFE MAY [MULTIPLE TENANTS] PARTS ROOSEVELT RD 4 EXMOOR AVE WINGSTOP SHELL DUNKIN FIRESTONE STARBUCKS CHIPOTLE PANERA CHASE GLEN ELLYN PARK BLVD CVS CARE OF TREES CROSSING ANIMAL [MULTIPLE TENANTS] HOSPITAL 8 OFFICE ROSS DRESS JEWEL-OSCO 7 FOR LESS 1 2 3 5 6 TAFT AVE FIRE STATION [VILLAGE OWNED] ROOSEVELT GLEN OFFICE BLDG [MULTIPLE TENANTS] CORPORATE CENTER KINGSBROOK GLEN [TOWNHOMES] PERSHING AVE GLENGARRY [APARTMENTS] NICO PANFISH PARK [VILLAGE OWNED] POLICE Y DEPARTMENT WATERS EDGE LL WA [VILLAGE OWNED] [TOWNHOMES] WILSON AVE HARDING AVE 0 100 200 400 ft Site # Property Owner PIN Area (sq ft) Area (acres) Existing Zoning Land Use (per Comp Plan) Use 1 Glengold Hospitality LLC 05-23-200-012 22,286.86 0.51 C3: Service Commercial Corridor Commercial Budgetel Inn & Suites 2 Glengold Hospitality LLC 05-23-200-016 9,841.13 0.23 C3: Service Commercial Corridor Commercial Budgetel Inn & Suites 3 Glengold Hospitality LLC 05-23-200-021 7,198.13 0.17 C3: Service Commercial Corridor Commercial Budgetel Inn & Suites 4 Glengold Hospitality LLC 05-23-201-026 17,248.82 0.40 C3: Service Commercial Corridor Commercial Budgetel Inn & Suites 5 Glengold Hospitality LLC 05-23-200-007 8,114.59 0.19 C3: Service Commercial Corridor Commercial Vacant Lot 6 Glengold Hospitality LLC 05-23-200-008 7,903.41 0.18 C3: Service Commercial Corridor Commercial Vacant Lot 7 Glengold Hospitality LLC 05-23-201-028 23,426.60 0.54 C3: Service Commercial Corridor Commercial Vacant Lot 8 Glen Ellyn Properties LLC 05-23-201-024 23,839.14 0.55 C3: Service Commercial Corridor Commercial Care of Trees Last Revised: October 27, 2021 Redevelopment Site Data ROOSEVELT ROAD HOTEL REDEVELOPMENT SITE | VILLAGE OF GLEN ELLYN, IL 4 Page 9 of 44 RESIDENTIAL MARKET people making less money, including returning grown children, and working people in lower-paying Community Demographics industries such as retail, restaurants, personal and property services, assistant positions in medicine, To examine the residential market in Glen Ellyn, we education, and public service. This situation can looked at basic demographics for the community. also apply to seniors on fixed incomes, and with less The village has an estimated 27,600 people in savings. 10,500 households as of 2021, for an average household size of 2.6 people. The population and As of 2021, two thirds of Glen Ellyn’s households are household counts are projected to remain similar headed by a householder younger than age 65 (7,200 through 2026. Based on these predictions, new households). While this number will decrease 5.8% residences would be filled by those relocating from by 2026, the community will still have almost 6,800 existing housing in the village, and those moving out younger households. These are generally quite of the village will be offset by others moving in. If affluent with 68% earning over $100,000 or more more housing is approved in this desirable (4,900) (Table 4). However, 2,300 make less, community, growth is possible beyond these including 800 with incomes under $35,000. These predictions (Table 1). households are typically burdened by their housing costs, paying more than 30% of their income on The median age is almost 42 years, which indicates housing. Of the 3,300 senior households in Glen an older age profile in the community overall. We Ellyn, only 37% (1,250) make $100,000 or more, would expect an area characterized by younger though this number is expected to increase to 44% families to have a median age in the mid-30s. by 2026 (Table 5). On the flip side, almost one Significant growth is projected in the population age quarter of senior households have incomes under 65+ in the next five years led by aging Baby Boomers. $35,000 (800) and would qualify for affordable As such, the population age 65+ is expected to senior housing under the Low-Income Housing Tax increase by 15.5% (800 people, while the population Credit program. age 55-64 will decrease by 9.9% (-400) (Table 2). This is consistent with regional trends. Glen Ellyn is a high-income community, with a median household income of almost $119,000, anticipated to increase nearly 10% to almost $130,000 by 2026. Two thirds of households make $75,000 or more – just under 7,000. This contributes to a healthy for-sale residential market, as households can afford to buy, but it also supports high-quality apartments with rents to match. It also aids retail attraction and retention and enables the community to provide a wider range of private and public amenities (Table 3). However, prices and rents in high-income communities can be unattainable for younger 5 Page 10 of 44  Table 1 GLEN ELLYN POPULATION CHARACTERISTICS Number Percent Population 2000 Census 28,048 2010 Census 28,077 Change, 2000-2010 29 0.1% 2021 Estimated 27,577 Change, 2010-2021 -500 -1.8% 2026 Projected 27,538 Change, 2021-2026 -39 -0.1% Households 2000 Census 10,575 2010 Census 10,658 Change, 2000-2010 83 0.8% 2021 Estimated 10,544 Change, 2010-2021 -114 -1.1% 2026 Projected 10,556 Change, 2021-2026 12 0.1% Average Household Size, 2021 2.61 Population by Age, 2021 Under 5 1,565 5.7% 5-14 4,014 14.6% 15-24 3,124 11.3% 25-44 6,140 22.3% 45-54 3,572 13.0% 55-64 4,048 14.7% 65-74 2,887 10.5% 75+ 2,228 8.1% Median Age, 2021 41.9 Source: Esri 6 Page 11 of 44  Table 2 GLEN ELLYN SENIOR POPULATION BY AGE GROUP Population Change 2010-2021 Change 2021-2026 Age Group 2010 2021 2026 Number Percent Number Percent 55-64 3,623 4,048 3,649 425 11.7% -399 -9.9% 65-74 1,794 2,887 3,239 1,093 60.9% 352 12.2% 75+ 1,910 2,228 2,669 318 16.6% 441 19.8% Total 55+ 7,327 9,163 9,557 1,836 25.1% 394 4.3% Total 65+ 3,704 5,115 5,908 1,411 38.1% 793 15.5% Source: Esri Table 3 GLEN ELLYN 2021 AND 2026 INCOME CHARACTERISTICS Number Percent 2021 Household Distribution 10,544 Under $15,000 566 5.4% $15,000-24,999 542 5.1% $25,000-34,999 488 4.6% $35,000-49,999 784 7.4% $50,000-74,999 1,229 11.7% $75,000 or more 6,935 65.8% Median Household Income $118,141 2026 Household Distribution 10,554 Under $15,000 473 4.5% $15,000-24,999 454 4.3% $25,000-34,999 413 3.9% $35,000-49,999 709 6.7% $50,000-74,999 1,169 11.1% $75,000 or more 7,336 69.5% Median Household Income $129,623 Note: Numbers may not sum to given totals due to rounding. Source: Esri 7 Page 12 of 44  Table 4 INCOME CHARACTERISTICS OF GLEN ELLYN HOUSEHOLDS UNDER 65 2021 2026 Change Number Percent Number Percent Number Percent Households by Age 10,544 10,556 12 0.1% Age 15-24 187 1.8% 167 1.6% -20 -10.7% Age 25-34 1,071 10.2% 1,060 10.0% -11 -1.0% Age 35-44 1,664 15.8% 1,714 16.2% 50 3.0% Age 45-54 1,930 18.3% 1,771 16.8% -159 -8.2% Age 55-64 2,344 22.2% 2,067 19.6% -277 -11.8% Total Under 65 7,196 68.2% 6,779 64.2% -417 -5.8% Age 65+ 3,345 31.7% 3,777 35.8% 432 12.9% Household Income - Under Age 65 $0-$14,999 323 4.5% 240 3.5% -83 -25.7% $15,000-$24,999 226 3.1% 165 2.4% -61 -27.0% $25,000-$34,999 265 3.7% 196 2.9% -69 -26.0% $35,000-$49,999 381 5.3% 305 4.5% -76 -19.9% $50,000-$74,999 604 8.4% 521 7.7% -83 -13.7% $75,000-$99,999 539 7.5% 488 7.2% -51 -9.5% $100,000-$149,999 1,307 18.2% 1,191 17.6% -116 -8.9% $150,000-$199,999 1,091 15.2% 1,148 16.9% 57 5.2% $200,000+ 2,460 34.2% 2,525 37.2% 65 2.6% Source: Esri 8 Page 13 of 44  Table 5 GLEN ELLYN HOUSEHOLDS 65+ BY INCOME 2021 2026 Change 2021-2026 Number Percent Number Percent Number Percent Total Households 65+ 3,345 3,777 432 12.9% Under $15,000 243 7.3% 233 6.2% -10 -4.1% $15,000-$24,999 316 9.4% 289 7.7% -27 -8.5% $25,000-$34,999 223 6.7% 218 5.8% -5 -2.2% $35,000-$49,999 401 12.0% 404 10.7% 3 0.7% $50,000-$74,999 623 18.6% 648 17.2% 25 4.0% $75,000-$99,999 289 8.6% 321 8.5% 32 11.1% $100,000+ 1,250 37.4% 1,664 44.1% 414 33.1% Source: Esri for studios, $1,198 for one-bedrooms, $1,519 for Non-Age-Restricted Apartments two-bedrooms, and $2,279 for three-bedrooms. VSKA examined the market in Glen Ellyn for both Over the last year, 224 units were absorbed in the market-rate and affordable non-age restricted submarket, more than double the average annual apartments and performed a preliminary affordable absorption rate of 94 units over the last 10 years. market penetration analysis, which is a common The average vacancy rate is low at 4.4%, which is way to assess demand. slightly higher than the long-term average of 4.1%, but 0.9 percentage points lower than the current Market-Rate Apartments Chicago metro average of 5.3%. We obtained data from Reis, a national real estate For newer apartment buildings built from 2010- data company, and analyzed apartment market 2019, the average asking rent per unit for all floor trends in the Glen Ellyn-Wheaton submarket and the plans is much higher at $2,932, with a low vacancy Glendale Heights-Lombard submarket to get the full rate of 4.1%. Apartments built after 2019 have a picture of the apartment environment in and near vacancy rate of almost 52%, as they are still being Glen Ellyn. absorbed into the market. Leasing was slower in 2020 due to the COVID outbreak. The Glen Ellyn-Wheaton submarket contains over 15,500 market-rate rental units. Over the last 10 The Glendale Heights-Lombard submarket includes years, 751 units were added, for an annualized over 18,000 market-rate rental units. In the past 10 inventory growth of 0.5%, compared to the metro years, 1,765 units have been added, amounting to a Chicago growth rate of 1.3% annual rate over this greater inventory growth rate of 1% annually. period. Average rents in the submarket are $1,093 Average rents in this submarket are much higher 9 Page 14 of 44 than in the Glen Ellyn-Wheaton submarket, with bike storage, a club room with kitchen and lounge, a studios averaging $1,415, one-bedrooms $1,582, dog-wash station, stainless steel appliances, quartz two-bedrooms $1,990, and three-bedrooms $2,744. counters, walk-in closets, balconies, and even wine These are among the highest averages in the refrigerators in some units. Chicago metro area, though some landlords seem to be increasing the value of rent concessions offered Rents for one-bedrooms with or without a den range to attract tenants. from $1,975-$2,475 and up for large units with 868- 1,030 square feet. Two-bedroom units with a basic Most apartment complexes in Glen Ellyn are layout or with a sitting or dining room and/or den considered Class B, generally built in the 1970s and with 1,277-1,615 square feet are $3,175-3,975 and 1980s. These are larger and less competitive up. These rents are at or near the top of the market properties. Near Roosevelt Road are also some and are higher than what is likely achievable on the small, mostly 6-unit Class C apartment buildings subject Roosevelt Road site given downtown’s that are the least competitive. added appeal. During the last year, submarket absorption totaled Apex 400 (107 units) and Glenwood Station (86) are 214 units, 41% over than the average annual rate of fully approved and under or approaching 151 units over the past 10 years. The current average construction in Glen Ellyn. Avere on Forest (77) and vacancy rate is 5.9%, which is higher than the long- Acacia Building Residences (12) are earlier in the term average for the submarket and the Chicago planning pipeline and are not yet approved. As these metro area. Developers have added apartments are downtown properties, new apartments in a recently at high rents, and, while these apartments different type of location on Roosevelt Road would are being absorbed, they have led to increased – but be sensible to give potential residents an still acceptable – vacancy in the near term. Most of alternative, likely at a somewhat lower price point. these newer high-end apartments opened in Lombard. Other high-quality developments in Wheaton, Lisle, Downer’s Grove, and Lombard have limited For apartment buildings built in 2010-19, the availability except for The 450 in Lombard, which has average asking rent per unit for all floor plans is many available units since it only opened recently. In $2,290 with a somewhat high vacancy rate of 12.7%. Lombard, Lilac Station is also being built with 118 These represent a much greater share of the overall units, and plans are in place for additional inventory in this submarket than units of the same apartments near Yorktown Center east of Route 53 age in the Glen Ellyn-Wheaton submarket. Some north of Butterfield Road. built in 2019 may not have been fully absorbed before the pandemic. Here as well, apartments built Tracy Cross & Associates, a reputable real estate after 2019 have a high vacancy rate of almost 56% research company, performed a market analysis for and are still being absorbed. Glenwood Station Apartments in late 2020 that is part of the public record. This report estimated The newest completed development in Glen Ellyn is market support for construction of 975 rental units Avere on Duane, a 48-unit luxury development through 2025, or 195 units annually. This is with the downtown. It opened in Spring 2021 and is now fully caveat that the market area extended from Roselle occupied. It has one- and two-bedroom floor plans south to I-88, encompassing a large area with other with condo-quality finishes, underground parking, communities that are also seeing new apartments – 10 Page 15 of 44 Lombard among them. Nonetheless, apartments penetration rate, the greater the need and support here would make up a small part of that demand and for more units. should find a place in the market. Glen Ellyn has an estimated 7,200 households Affordable Apartments headed by a person under age 65, of which 1,300 (18%) have incomes less than $55,000, the There are only two affordable non-age restricted approximate four-person maximum income. The properties in Glen Ellyn with a total of just 19 existing penetration rate in Glen Ellyn is an affordable units. Both were built or otherwise extremely low 1.4%. This indicates significant financed using Low-Income Housing Tax Credits support for more affordable housing from current (LIHTC) through the Illinois Housing Development residents given how few properties the community Authority (IHDA). Both are southwest of the subject currently has. This number is somewhat sites on Pershing Avenue. A third, just north of conservative because households headed by a Roosevelt Road on Greenwood Street nearby to the person age 65+ can also reside in affordable non- west, is designated Supportive Housing by IHDA, so age restricted properties. A market area is usually is not comparable. While these appear to be in good not thought at risk of market saturation until it condition, they are older and not very comparable to reaches 20%-25% penetration. newly built affordable housing. Additionally, the law in recent years has changed to Apartments financed with LIHTCs are required to allow tax credits to be used for new affordable have rents that keep most, if not all, of the units properties to serve a limited number of households affordable to households with incomes less than with incomes up to 80% AMI, or $74,550 for a family 60% of the Area Median Income (AMI). Maximum of four. With both these populations included, the allowable rents and incomes are set by HUD each penetration rate will be even lower. Most new year and are used by IHDA to determine affordable projects are in the range of 60-70 units affordability. Maximum incomes are based on given funding guidelines. household sizes, so for two people the maximum is currently $44,760 in DuPage County. For four Senior Apartments people, it is $55,920. Maximum rents that can be charged are $1,049 for a one-bedroom apartment or We also looked at the opportunities for both market- $1,258 for a two-bedroom, for example. Developers rate and affordable senior rental housing. try to set rents to the maximum possible considering what the market will support. In general, new LIHTC Market-Rate Independent Living properties are very high quality and often stay full with waiting lists. At this time there are no According to senior data provider, NIC (National affordable family projects approved for funding or Investment Center for Seniors Housing and Care), planned in Glen Ellyn. Glen Ellyn has five market-rate senior properties, only one of which is majority independent living (the In order to determine whether there is market others are mostly memory care or assisted living). support for affordable family apartments, we looked These are Arden Courts, Brookdale, Park of Glen at the market penetration rate -- the number of Ellyn, Charter Senior Living, and Maple Glen Memory affordable units divided by the number of income- Care. Three are more than 20 years old, while the eligible households (Table 6). The lower the market other two opened within the last 4-6 years. 11 Page 16 of 44 Meaningful summary statistics are not available for We expect the market will recover well whenever the this small set of properties for data privacy reasons, pandemic tapers off or stays at a manageable but they are available for an expanded set of senior normal. Market support exists for new independent properties including those in Wheaton and Lombard, senior apartments at market rents given the which together form a reasonable market area. projected increase in the senior population, especially those age 75+, and the high incomes in These three communities have 15 properties with the village and nearby communities. 1,875 total senior units of any kind. They average approximately 25 years of age. Fifty-four percent (1,010 units) are independent living, which would be appropriate for this location given the access to both park space and shopping. They are 88.5% occupancy, which would be low in normal times but is actually very favorable during the pandemic. Senior properties have needed to exercise great caution around moves-in, if not freeze them entirely, and seniors and their families have been justifiably reluctant to congregate. The average rent of $4,075 is similar to last year’s level. Fifty-two percent of the independent living units are one-bedrooms, 33% are two-bedrooms, and almost all of the rest are studios. This is a common unit mix for senior housing, since senior households have only one or two people, and the cost of living over time becomes a concern. (Smaller units usually rent for less, as one would assume.) Each floor plan type is equally well occupied. Rents average $3,507- $5,147 for one- or two-bedrooms. As of 2019 and into 2020, independent living occupancy at these properties generally exceeded 95%, indicating a very healthy market in the midst or tail-end of a massive disruption from COVID. Rents rose steadily since 2006 before leveling off in 2020. 12 Page 17 of 44  Table 6 GLEN ELLYN AFFORDABLE APARTMENT PENETRATION AND CAPTURE RATES 2021 2026 Market Area Households - Householder < 65 Years 7,196 6,779 Income Under $15,000 323 240 Income $15,000-$24,999 226 165 Income $25,000-$34,999 265 196 Income $35,000-$49,999 381 305 Income $50,000-$54,999 121 104 Total with income < $55,000 (approx. 60% AMI for 4 people) 1,316 1,010 Income $55,000+ 5,880 5,769 Example Development 75 Total affordable units 50 Market rate units 25 Development Capture Rates Affordable units' capture rate of MA households < 65 with incomes < $55,000 4.9% Market Area Penetration Rates Existing and planned family affordable units with development affordable units 19 69 Market penetration of affordable family units and all development units of MA 1.4% 6.8% households < 65 with incomes under $55,000 Note: A specific development proposal would require a full market study defining a market area including places outside Glen Ellyn and determining detailed income targets. Source: Kretchmer Associates based on estimates & projections from Esri 13 Page 18 of 44  Figure 1 INDEPENDENT LIVING OCCUPANCY TREND - GLEN ELLYN, WHEATON AND LOMBARD (IL Comparable Set) IL Chicago, IL Metro IL Comparable Set Primary Markets 100.0% 95.0% 90.0% 85.0% 80.0% 75.0% 70.0% 4Q2005 4Q2006 4Q2007 4Q2008 4Q2009 4Q2010 4Q2011 4Q2012 4Q2013 4Q2014 4Q2015 4Q2016 4Q2017 4Q2018 4Q2019 4Q2020 Source: NICMAP Figure 2 INDEPENDENT LIVING AVERAGE RENT TREND - GLEN ELLYN, WHEATON AND LOMBARD (IL Comparable Set) IL Chicago, IL Metro IL Comparable Set Primary Markets $4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 4Q2005 4Q2006 4Q2007 4Q2008 4Q2009 4Q2010 4Q2011 4Q2012 4Q2013 4Q2014 4Q2015 4Q2016 4Q2017 4Q2018 4Q2019 4Q2020 Source: NICMAP 14 Page 19 of 44 Affordable Independent Living sense, since townhouses were more likely to have more than two bedrooms. At present there is only one affordable senior property in Glen Ellyn with a total of 80 apartments. According to a knowledgeable local realtor This is Forest Apartments, a property deeply contacted for this market analysis, townhouses subsidized by HUD. The 6-story building is located should be in the middle price range from about northeast of downtown on Forest Avenue in pleasant $250,000-$300,000 for 1,800 square foot units with surroundings and with excellent access to basements and two-car attached garages amenities. Residents in this building must qualify by (basement not included in that total square income, with a limit often set at 50% of the area footage). This is conservative since the site is closer median. They then pay 30% of their income for rent to Roosevelt Road and less surrounded by open plus utilities. This makes it possible to serve both space and residential streets than nearby people with incomes similar to residents of a LIHTC comparables. building and those with no income at all. In many cases, this includes younger people with a disability. Slightly higher pricing or somewhat smaller units – or both – could also be supportable. A reasonable To determine support for additional affordable comparable subdivision is Baker Hill, located senior housing, we looked at the number of primarily along Tanglewood Drive approximately ½ households ages 65+ with incomes under $45,000, mile northeast, on the north side of Roosevelt Road. the current 60% AMI maximum for two people (Table Since 2019, 25 homes have sold there. These are 7). The current penetration rate is only 7.6%, also a also a mid-range product, and they are older (built low rate. This also shows significant support for 1999-2002), which can compensate for the favored more affordable senior housing in Glen Ellyn. location north of Roosevelt Road (though close). Sale prices at this time ranged from $251,000-$367,000 For-Sale Attached Single-Family Housing for units with 2 stories, 2-car garages, 2-3 bedrooms, 1.5-2.5 baths, and 1,460-1,843 square Data from Midwest Real Estate Data show the feet in buildings with 4-6 units. number of sales in Glen Ellyn for single-family attached homes from 2019-2021 to date. This For condos, pricing could be similar for three- includes townhouses, duplexes and condominiums bedroom units with indoor parking. To fetch the (Table 8). same price as townhouses, interior finishes would need to be higher quality. As a rule of thumb, the During these three years, 448 homes sold at a rate of land cost can be assumed to factor in at 20%-30% approximately 150 per year, consistently. Overall, of the eventual sale price. attached single-family housing sold for a median of $195,000, but, within that, condos sold for According to a knowledgeable realtor, the attached substantially less than townhouses or house-like single-family attached developments immediately building types ($156,550 vs. $352,950). Units spent south/southeast of the subject site, Maryknoll and about 2 months on the market, on average, which is Kingsbrook, are successful high-end townhomes reasonable, though condos sold more quickly, and with prices well above average for this product type townhouses and other home types took longer to in Glen Ellyn. Sale prices range from $350,000- sell. Townhouses averaged nearly 1,900 square feet, $600,000 for units with 1,800-2,000 square feet, 2.5 while condos were closer to 1,100; this makes baths, finished basements, and 2-car garages. 15 Page 20 of 44  Table 7 GLEN ELLYN AFFORDABLE SENIOR APARTMENT PENETRATION AND CAPTURE RATES 2021 2026 Market Area Households - Householder 65+ Years 3,345 3,777 Income Under $15,000 243 233 Income $15,000-$24,999 316 289 Income $25,000-$34,999 223 218 Income $35,000-$44,999 267 269 Total with income < $45,000 (approx. 60% AMI for 2 people) 1,049 1,009 Income $45,000+ 2,296 2,768 Example Development 75 Total affordable units 50 Market rate units 25 Development Capture Rates Affordable units' capture rate of MA households < 65 with incomes < $45,000 5.0% Market Area Penetration Rates Existing and planned family affordable units with development affordable units 80 130 Market penetration of affordable family units and all development units of MA 7.6% 12.9% households < 65 with incomes under $45,000 Note: A specific development proposal would require a full market study defining a market area including places outside Glen Ellyn and determining detailed income targets. Source: Kretchmer Associates based on estimates & projections from Esri 16 Page 21 of 44  Table 8 ATTACHED HOME SALES IN GLEN ELLYN - 2019-2021 YEAR-TO-DATE Description* All Attached Condo Townhouse/Other Number of sales (count) 448 281 167 Median sale price $195,000 $156,550 $352,950 Min. sale price $83,000 $83,000 $137,000 Max. sale price $960,000 $815,000 $960,000 Days on market 66 49 92 Size (square feet) 1,448 1,185 1,889 Bedrooms 2.1 1.8 2.6 Full baths 1.8 1.7 2.1 Year built 1985 1978 1997 Property tax (annual) $4,721 $3,093 $7,771 Note: Does not include foreclosures, short sales, or court approved sales. Condo categorization based on VSKA grouping of MRED building types. *Averages unless noted. Source: MRED, VSKA This pricing is similar to some units near Main Street Glen Ellyn. Elevator condo buildings are also an in downtown Glen Ellyn, which is a more sought- option for seniors, but few of these exist in the after location. community. For comparison, older but updated townhomes Conclusions north in the community tend to sell within the mid- $200,000 range, with a 1-2 car attached garage, The subject site is very suitable for residential updates like new trim and woodwork and stainless- development, either apartments, condominiums or steel appliances. These serve as an entry level home townhouses. These could be a 3-5 story building or in the community for those who may eventually buy buildings, or a block of townhomes along Taft a detached house. Avenue. There is demand for both market-rate and affordable apartments in Glen Ellyn, and this Two-story units are the norm for younger buyers and location is suitable for either. are still appropriate for people up to their mid-50s or early-60s Many capable seniors can also handle stairs but anticipating the future, they may search for a single-story unit or one with a first-floor master bedroom and/or the ability to add an elevator, as is the case in some two-story properties in northern 17 Page 22 of 44 RETAIL/RESTAURANT MARKET additional. Retail Environment Market Plaza at 539 Roosevelt Road, is the largest in the corridor with more than 166,000 square feet. Fresh Market was the only large vacancy along Though it has a few vacant spaces, it has strong Roosevelt Road in the vicinity of the subject site, but anchors with Jewel-Osco, Ross Dress for Less, this is farther west in a more “in-between” location. Dollar Tree, and Staples. It is one block west of the It is reportedly now under contract, nonetheless. subject site and has sold twice in the past few years, the most recent time this month. This indicates that One broker characterizes the Roosevelt Road it remains attractive for investment, including any corridor in Glen Ellyn as a market mostly served by vacancies. community residents with little regional draw compared to its neighbors. Retail demand is The shallow depth of the subject site is a challenge primarily from service, food, and fitness users. for a development of any real size, but the ability to Another broker indicated that the market is very handle stormwater in Panfish Park is a major offset good, and he is quite positive about this corridor and to reduce buildable area spent on infrastructure. the site's co-location opportunities. Another very experienced broker in the area says market demand Retail Market Trends and Conditions exists provided the right deal can come together. Glen Ellyn is part of the Far West Suburbs retail The Pickwick shopping center across Roosevelt submarket according to the global commercial Road from the site had explored options for updates brokerage firm CBRE. The submarket largely and redevelopment in the past couple of years, coincides with the DuPage County boundary. though nothing has progressed to date. It currently has 22,100 square feet available in three spaces, but As of the third quarter of 2021, the submarket the center is well-occupied overall with Trader Joe’s contains over 22.7 million square feet of retail and Binny’s exerting major drawing power alongside space, a reduction of over 520,000 square feet since Kriser’s Natural Pet and others. Typically, Trader the 4th Quarter 2020. However, less space is vacant Joe’s draws beyond a host community or than at year-end 2020 (14.6%), although vacancy is neighborhood. still higher than prior to the COVID-19 pandemic in early 2020 (Table 9). Glen Ellyn Crossing, the neighboring center with Starbucks and Chipotle (17,422 SF gross leasable Annual net absorption had been positive in 2017 and area), had 2,800 square feet available for over a year 2018 and about neutral in 2019 but became negative during the pandemic, but now has a letter of intent during the pandemic. Alongside this shift, average for the space with a retailer – not a medical or office asking rents decreased in 2020 and 2021. Suburban user. This is a good quality center built in 2006. The Chicago overall has not seen the same asking rent actual rent agreed upon could not be shared, but the decreases, though vacancy increased in 2020 before asking rate was $22 NNN (triple net), with taxes, falling in 2021, with 1 million+ square feet of positive common area maintenance (CAM), and insurance net absorption. 18 Page 23 of 44  Table 9 FAR WEST SUBURBS & TOTAL SUBURBAN CHICAGO RETAIL MARKET TRENDS 2017-2021 Sub-Market Year Gross Building Area Net Absorption Average Asking (SF) Vacancy (SF) Lease Range Far West Suburbs 2017 22,357,389 14.9% 76,494 $15.11-$17.48 2018 23,079,050 13.9% 844,924 $15.16-$17.72 2019 Q3 23,078,703 13.9% -299 $15.27-$17.43 2020 23,227,096 15.4% -220,640 $14.87-$17.33 2021 Q3 22,706,632 14.6% -251,736 $14.54-$16.75 All Suburban Chicago 2017 118,837,408 10.6% 1,717,027 $17.08-$20.24 2018 120,669,168 11.5% 579,570 $16.67-$20.33 2019 Q3 122,458,499 11.2% 1,926,722 $16.54-$20.53 2020 121,967,325 12.1% -1,448,803 $16.55-$20.66 2021 Q3 122,947,220 11.9% 1,002,779 $16.47-$20.48 *Fourth quarter except where noted. Source: CBRE Real estate data firm Reis allows for the selection of average than in the submarket. a group of properties specifically within Glen Ellyn as well as a predefined submarket with additional data Rents and vacancy rates are only available for 10 points. Looking at both sources helps understand properties in Glen Ellyn, but across the submarket retail activity in the community. The submarket runs rents are within the range noted by CBRE, while along I-290 then roughly to Lake Street on the north, vacancy is a reasonable 8.4%. This is notable in a I-294 on the east, I-88 on the south, and the DuPage time of struggling physical retail, where center County line on the west. occupancies in the 80% range or less are common in many places. Glen Ellyn has a total of nearly 1.5 million square feet of retail space, a large amount but a small share These are positive metrics that support pursuing of the submarket’s total 29.7 million square feet additional retail development on the corridor. (Table 10). Property sizes are much smaller on 19 Page 24 of 44  Table 10 RETAIL IN GLEN ELLYN AND ADDISON-LOMBARD SUBMARKET* Glen Ellyn Submarket Number of Properties 95 589 Total Square Footage 1,482,424 29,723,983 Average Property Size (SF) 15,940 53,653 Average Year Built 1973 1978 Average Asking Rent $20.85 $19.35 Average Effective Rent $18.33 $17.01 Vacancy Rate 4.4% 8.4% * Includes I-290 then roughly Lake Street on the north, I-294 on the east, I-88 on the south, and the DuPage County line on the west. Note: Statistics not available for all properties (only 10 in Glen Ellyn show rent and vacancy rate). Sources: Reis; Kretchmer Associates Retail Market Potential potential is highest. A measure called the MPI – Market Potential Index – can assist with this. This In the past, retail analysis has often included an score ranks how likely households in a place are to examination of the retail spending gap, the amount make purchases in given categories compared to an of retail sales estimated to be leaking out of a average U.S. household based on a combination of community if it is under-retailed – if shoppers must local demographic composition and national travel outside the community for their purchase. purchasing patterns. (A score of 100 signifies Glen Ellyn has the potential to attract shoppers from average likelihood to make a purchase.) other places, particularly given the fact that Roosevelt Road is a major arterial leading to I-355. Glen Ellyn households have higher than average In recent times, this analysis has lost much of its market potential scores, which makes intuitive meaning given the shift to online shopping, as sense given the community's high incomes. Some of increasing amounts of spending leak out of the the top categories in which Glen Ellyn purchasing community to the Internet. could “outperform” the average include buying or leasing a new vehicle, owning an Apple computing In this context, it makes sense to discuss relative device or a digital SLR camera, printing digital retail market potential instead. This is relevant to photos, spending $1,000 or more on a recent home retailer locational decisions since they ultimately computer, attending live theater, exercising at a club must compare their potential to succeed across 2+ times weekly, traveling, and simply spending different communities and ultimately locate where more than $2,000 monthly on a credit card. (The full 20 Page 25 of 44 list appears at the end of this report.) Many of these behaviors can be carried out online or in person, while some may only take place in a physical location. In general, the spending potential is there for retailers and service providers to capture with the right offering and if the competitive environment make sense. Conclusions The subject site is small and likely to accommodate one or a small number of stores or restaurants. As such, the key is finding the user that isn't already represented here or is in the village or nearby but wants to relocate to a new building in this higher visibility location. Given feedback from retail brokers, the site will be attractive to this type of business. If any additional parcels adjacent to the subject site were to become available, the retail offering could be expanded, which would facilitate more options. 21 Page 26 of 44 OFFICE MARKET Existing properties like these will continue to serve a need, but the market for new office development in Office Environment Glen Ellyn is minimal. The office market in Glen Ellyn is at best stable with Office Market Trends and Conditions local, mostly long-time tenants, in older office buildings that have been maintained well but do not CBRE includes Glen Ellyn in its East-West Tollway offer the highest buildout or amenities. One office submarket, which is a large area west of Cook interviewee called it “very timid” and warned County, north to between US-20 and North Avenue, developers away from any speculative office and south just beyond I-55. As of 2021’s third development. The pool of users is small. Meanwhile, quarter, the direct vacancy rate (not including this holding pattern may mean low but consistent subleases) of the submarket’s nearly 40.5 million SF occupancies. Existing buildings serve local needs at of office space is very high at 22.4%, an increase relatively affordable prices, but this is not a growth over 2020’s year-end 20.3% (Table 11). sector. Vacancy is highest in the best properties, Class A, of Important examples along the Roosevelt Road which 23.7% is vacant. Older Class B and C corridor are the different sections of Roosevelt Glen properties like those in Glen Ellyn fare better, but Corporate Center. This campus straddles the north still have a high 20.6% vacancy. Tenants may be like and south sides of Roosevelt Road. Both sides were those mentioned above – long-term, satisfied with developed as a single property by the Stahelin the lower quality level that meets basic needs, and family, who then sold the south side in the 1980s. able to afford the lower rents. That side is on its third owner, who bought it as a distressed asset, and it is currently only 55% Absorption turned negative beginning in 2019, so the occupied. According to the leasing agent, this level is situation cannot be attributed entirely to the sustainable. The property is in good condition with pandemic. However, vacancy shot up in 2020 while recent updates, and it can sit at this level absorption dropped, with nearly 1 million more indefinitely. It is a 10-acre, 7-building property with square feet vacant compared to year-end 2019. simple gross leases of $16.50/SF and many small Prior vacancy was well below 20%, though still high. 1,000-2,000 square foot spaces, aside from 6,000- At this time, it is not known how the office market 12,000 SF space that has not been subdivided on will fare in the coming years and how prevalent the purpose. Some small spaces have fewer than 1,000 work from home trend will be in the future. This SF, but these are no longer actively leased. could have a major impact on the demand for office space everywhere, not just in Glen Ellyn. The north side is approximately 80% occupied with mostly long-term tenants and a more stable history. In addition to looking within Glen Ellyn, we defined a The mix includes accountants, attorneys, custom office market area to understand Reis data psychologists, etc. The business owners tend to live for the local market. This includes the area between in Glen Ellyn. The rents are similar at $13.50-$16/SF North Avenue, Butterfield Road, I-355, and Winfield modified gross, with tenants paying their own Road. Reis only tracks four office properties within electricity. the village, totaling 589,481 square feet (Table 12). These are old, having been built in 1982 on average. The current vacancy rate is lower than reported for 22 Page 27 of 44 the larger CBRE submarket at 17.2% and is Conclusions consistent with pre-pandemic vacancy for that geography. The average asking rent of $19.47 is The statistics above are consistent with our consistent with current Class B/C rents for that impressions of the office environment based on our larger area. interviews with brokers. They do not support speculative office development along Roosevelt Expanding the view to the larger market area Road. It may be possible that a single user wants to outlined in the previous paragraph includes 27 be in Glen Ellyn and on Roosevelt Road, but this is properties with nearly 1.35 million square feet. Their less likely. Some small office users could locate in a age is similar, while their asking rents are $2-3 retail center, either in a storefront or a second floor. lower, and the vacancy is higher than in Glen Ellyn. If any office is included, it will be a small part of the mix. Retail uses should be emphasized on the ground floor. 23 Page 28 of 44  Table 11 EAST-WEST TOLLWAY SUBMARKET OFFICE TRENDS - 2017-2021 Year- Bldg. Rentable Area Direct Vacancy Annual Net Gross Asking End* Class (SF) Rate Absorption (SF) Lease Rate/SF 2017 Total 39,766,346 16.6% 302,091 $22.74 Class A 12,697,961 13.0% -95,819 $28.70 Class B 19,187,352 18.2% 338,644 $22.08 Class C 7,881,033 18.6% 39,266 $16.98 2018 Total 39,262,218 16.2% 146,44 $23.57 Class A 12,272,961 12.8% 74,652 $29.98 Class B 19,107,525 17.9% -36,874 $22.77 Class C 7,881,733 17.2% 108,666 $17.11 2019 Total 39,262,218 17.3% -55,563 $23.77 Class A 12,272,961 15.4% -71,626 $29.28 Class B 19,107,524 18.3% 36,721 $22.77 Class C 7,881,733 17.9% -20,208 $17.38 2020 Total 40,169,808 20.3% -935,060 $24.27 Class A 13,474,112 20.7% -234,258 $29.30 Class B 18,913,891 20.4% -614,623 $22.46 Class C 7,782,805 19.3% -86,179 $17.56 2021 Q3 Total 40,419,799 22.4% -769,201 $24.34 Class A 13,828,112 23.7% -391,410 $29.63 Class B 18,862,404 22.1% -302,857 $22.20 Class C 7,729,283 20.6% -74,934 $17.75 * Fourth quarter except where noted. Source: CBRE 24 Page 29 of 44  Table 12 OFFICE PROPERTIES IN GLEN ELLYN AND VICINITY* Glen Ellyn Glen Ellyn & Vicinity Number of Properties 4 27 Total Square Footage 589,481 1,345,424 Average Property Size (SF) 147,370 49,831 Average Year Built 1982 1985 Average Asking Rent $19.47 $17.14 Average Effective Rent $14.75 $12.96 Vacancy Rate 17.2% 21.7% * Includes area between North Avenue and Butterfield Road and from I-355 to Winfield Road. Sources: Reis; Kretchmer Associates 25 Page 30 of 44 APPENDIX A. Retail Market Potential report B. Representative market-rate apartments table C. Representative market-rate apartments map D. Affordable non-age-restricted and senior apartments map 26 Page 31 of 44  Retail Market Potential Glen Ellyn Village, IL Prepared by Esri Glen Ellyn Village, IL (1729756) Geography: Place Demographic Summary 2021 2026 Population 27,577 27,538 Population 18+ 20,810 20,991 Households 10,544 10,556 Median Household Income $118,141 $129,623 Expected Number of Percent of Product/Consumer Behavior Adults or HHs Adults/HHs MPI Apparel (Adults) Bought any men's clothing in last 12 months 10,508 50.5% 103 Bought any women's clothing in last 12 months 9,791 47.0% 104 Bought any shoes in last 12 months 11,728 56.4% 105 Bought costume jewelry in last 12 months 3,788 18.2% 113 Bought any fine jewelry in last 12 months 4,088 19.6% 107 Bought a watch in last 12 months 2,969 14.3% 98 Automobiles (Households) HH owns/leases any vehicle 9,601 91.1% 105 HH bought/leased new vehicle last 12 months 1,344 12.7% 140 Automotive Aftermarket (Adults) Bought gasoline in last 6 months 18,905 90.8% 106 Bought/changed motor oil in last 12 months 8,799 42.3% 93 Had tune-up in last 12 months 5,457 26.2% 109 Beverages (Adults) Drank bottled water/seltzer in last 6 months 15,046 72.3% 102 Drank non-diet (regular)in last 6 months 7,117 34.2% 81 Drank beer/ale in last 6 months 9,394 45.1% 109 Cameras (Adults) Own digital point & shoot camera/camcorder 1,922 9.2% 115 Own digital SLR camera/camcorder 2,186 10.5% 132 Printed digital photos in last 12 months 5,868 28.2% 128 Cell Phones (Adults/Households) Bought cell phone in last 12 months 6,392 30.7% 95 Have a smartphone 19,216 92.3% 103 Have a smartphone: Android phone (any brand) 6,827 32.8% 81 Have a smartphone: Apple iPhone 12,390 59.5% 124 Number of cell phones in household: 1 2,744 26.0% 86 Number of cell phones in household: 2 4,225 40.1% 105 Number of cell phones in household: 3+ 3,390 32.2% 108 HH has cell phone only (no landline telephone) 5,528 52.4% 81 Computers (Households) HH owns a computer 8,911 84.5% 113 HH owns desktop computer 4,341 41.2% 118 HH owns laptop/notebook 7,091 67.3% 114 HH owns any Apple/Mac brand computer 2,881 27.3% 136 HH owns any PC/non-Apple brand computer 6,918 65.6% 108 HH purchased most recent computer in a store 4,148 39.3% 112 HH purchased most recent computer online 1,980 18.8% 119 HH spent $1-$499 on most recent home computer 1,314 12.5% 87 HH spent $500-$999 on most recent home computer 1,905 18.1% 109 HH spent $1,000-$1,499 on most recent home computer 1,404 13.3% 129 HH spent $1,500-$1,999 on most recent home computer 774 7.3% 148 HH spent $2,000+ on most recent home computer 620 5.9% 133 Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by MRI-Simmons in a nationally representative survey of U.S. households. Esri forecasts for 2021 and 2026. ©2021 Esri Page 1 of 4 27 Page 32 of 44  Retail Market Potential Glen Ellyn Village, IL Prepared by Esri Glen Ellyn Village, IL (1729756) Geography: Place Expected Number of Percent of Product/Consumer Behavior Adults or HHs Adults/HHs MPI Convenience Stores (Adults) Shopped at convenience store in last 6 months 12,371 59.4% 97 Bought brewed coffee at convenience store in last 30 days 2,667 12.8% 102 Bought cigarettes at convenience store in last 30 days 1,190 5.7% 63 Bought gas at convenience store in last 30 days 6,883 33.1% 90 Spent at convenience store in last 30 days: $1-19 1,594 7.7% 110 Spent at convenience store in last 30 days: $20-$39 2,087 10.0% 107 Spent at convenience store in last 30 days: $40-$50 1,708 8.2% 101 Spent at convenience store in last 30 days: $51-$99 884 4.2% 77 Spent at convenience store in last 30 days: $100+ 3,904 18.8% 86 Entertainment (Adults) Attended a movie in last 6 months 13,856 66.6% 112 Went to live theater in last 12 months 3,718 17.9% 144 Went to a bar/night club in last 12 months 4,155 20.0% 113 Dined out in last 12 months 12,517 60.1% 118 Gambled at a casino in last 12 months 2,890 13.9% 105 Visited a theme park in last 12 months 4,356 20.9% 113 Viewed movie (video-on-demand) in last 30 days 4,754 22.8% 153 Viewed TV show (video-on-demand) in last 30 days 3,154 15.2% 149 Watched any pay-per-view TV in last 12 months 1,891 9.1% 122 Downloaded a movie over the Internet in last 30 days 2,274 10.9% 116 Downloaded any individual song in last 6 months 4,130 19.8% 107 Used internet to watch a movie online in the last 30 days 6,752 32.4% 100 Used internet to watch a TV program online in last 30 days 4,668 22.4% 106 Played a video/electronic game (console) in last 12 months 1,859 8.9% 94 Played a video/electronic game (portable) in last 12 months 973 4.7% 96 Financial (Adults) Have home mortgage (1st) 8,453 40.6% 124 Used ATM/cash machine in last 12 months 12,306 59.1% 110 Own any stock 2,722 13.1% 158 Own U.S. savings bond 1,361 6.5% 134 Own shares in mutual fund (stock) 2,686 12.9% 160 Own shares in mutual fund (bonds) 1,675 8.0% 154 Have interest checking account 7,963 38.3% 128 Have non-interest checking account 6,509 31.3% 102 Have savings account 14,024 67.4% 113 Have 401K retirement savings plan 4,658 22.4% 128 Own/used any credit/debit card in last 12 months 18,460 88.7% 107 Avg monthly credit card expenditures: $1-110 2,080 10.0% 88 Avg monthly credit card expenditures: $111-$225 1,507 7.2% 99 Avg monthly credit card expenditures: $226-$450 1,595 7.7% 104 Avg monthly credit card expenditures: $451-$700 1,616 7.8% 114 Avg monthly credit card expenditures: $701-$1,000 1,656 8.0% 125 Avg monthly credit card expenditures: $1001-2000 2,348 11.3% 142 Avg monthly credit card expenditures: $2001+ 2,592 12.5% 183 Did banking online in last 12 months 10,561 50.7% 118 Did banking on mobile device in last 12 months 7,444 35.8% 111 Paid bills online in last 12 months 12,467 59.9% 109 Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by MRI-Simmons in a nationally representative survey of U.S. households. Esri forecasts for 2021 and 2026. ©2021 Esri Page 2 of 4 28 Page 33 of 44  Retail Market Potential Glen Ellyn Village, IL Prepared by Esri Glen Ellyn Village, IL (1729756) Geography: Place Expected Number Percent of Product/Consumer Behavior Adults/HHs Adults/HHs MPI Grocery (Adults) HH used beef (fresh/frozen) in last 6 months 7,223 68.5% 101 HH used bread in last 6 months 9,909 94.0% 100 HH used chicken (fresh or frozen) in last 6 months 7,258 68.8% 104 HH used turkey (fresh or frozen) in last 6 months 1,531 14.5% 104 HH used fish/seafood (fresh or frozen) in last 6 months 6,229 59.1% 107 HH used fresh fruit/vegetables in last 6 months 9,325 88.4% 105 HH used fresh milk in last 6 months 8,842 83.9% 101 HH used organic food in last 6 months 3,084 29.2% 122 Health (Adults) Exercise at home 2+ times per week 7,593 36.5% 122 Exercise at club 2+ times per week 4,123 19.8% 138 Visited a doctor in last 12 months 17,198 82.6% 107 Used vitamin/dietary supplement in last 6 months 12,686 61.0% 111 Home (Households) HH did any home improvement in last 12 months 3,552 33.7% 118 HH used any maid/professional cleaning service in last 12 months 2,433 23.1% 150 HH purchased low ticket HH furnishings in last 12 months 2,046 19.4% 108 HH purchased big ticket HH furnishings in last 12 months 2,665 25.3% 109 HH bought any small kitchen appliance in last 12 months 2,541 24.1% 103 HH bought any large kitchen appliance in last 12 months 1,529 14.5% 108 Insurance (Adults/Households) Currently carry life insurance 10,511 50.5% 114 Carry medical/hospital/accident insurance 17,085 82.1% 109 Carry homeowner/personal property insurance 12,116 58.2% 119 Carry renter's insurance 1,793 8.6% 93 HH has auto insurance: 1 vehicle in household covered 2,723 25.8% 89 HH has auto insurance: 2 vehicles in household covered 3,412 32.4% 117 HH has auto insurance: 3+ vehicles in household covered 2,787 26.4% 115 Pets (Households) Household owns any pet 5,306 50.3% 95 Household owns any cat 2,051 19.5% 84 Household owns any dog 4,024 38.2% 95 Psychographics (Adults) Buying American is important to me 7,173 34.5% 95 Usually buy items on credit rather than wait 2,999 14.4% 106 Usually buy based on quality - not price 4,185 20.1% 107 Price is usually more important than brand name 5,530 26.6% 91 Usually use coupons for brands I buy often 3,426 16.5% 105 Am interested in how to help the environment 4,450 21.4% 102 Usually pay more for environ safe product 3,236 15.6% 104 Usually value green products over convenience 2,259 10.9% 93 Likely to buy a brand that supports a charity 7,520 36.1% 102 Reading (Adults) Bought digital book in last 12 months 3,555 17.1% 120 Bought hardcover book in last 12 months 5,279 25.4% 122 Bought paperback book in last 12 month 6,849 32.9% 116 Read any daily newspaper (paper version) 3,697 17.8% 121 Read any digital newspaper in last 30 days 10,968 52.7% 118 Read any magazine (paper/electronic version) in last 6 months 19,545 93.9% 104 Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by MRI-Simmons in a nationally representative survey of U.S. households. Esri forecasts for 2021 and 2026. ©2021 Esri Page 3 of 4 29 Page 34 of 44  Retail Market Potential Glen Ellyn Village, IL Prepared by Esri Glen Ellyn Village, IL (1729756) Geography: Place Expected Number of Percent of Product/Consumer Behavior Adults or HHs Adults/HHs MPI Restaurants (Adults) Went to family restaurant/steak house in last 6 months 15,842 76.1% 105 Went to family restaurant/steak house: 4+ times a month 5,360 25.8% 104 Went to fast food/drive-in restaurant in last 6 months 18,862 90.6% 101 Went to fast food/drive-in restaurant 9+ times/month 7,201 34.6% 91 Fast food restaurant last 6 months: eat in 7,082 34.0% 105 Fast food restaurant last 6 months: home delivery 1,779 8.5% 96 Fast food restaurant last 6 months: take-out/drive-thru 9,722 46.7% 98 Fast food restaurant last 6 months: take-out/walk-in 4,957 23.8% 116 Television & Electronics (Adults/Households) Own any tablet 12,577 60.4% 118 Own any e-reader 3,015 14.5% 141 Own e-reader/tablet: iPad 8,814 42.4% 138 HH has Internet connectable TV 4,330 41.1% 112 Own any portable MP3 player 3,288 15.8% 109 HH owns 1 TV 1,925 18.3% 86 HH owns 2 TVs 2,754 26.1% 98 HH owns 3 TVs 2,376 22.5% 107 HH owns 4+ TVs 2,292 21.7% 124 HH subscribes to cable TV 5,341 50.7% 127 HH subscribes to fiber optic 1,141 10.8% 186 HH owns portable GPS navigation device 2,243 21.3% 111 HH purchased video game system in last 12 months 993 9.4% 115 HH owns any Internet video device for TV 4,083 38.7% 116 Travel (Adults) Took domestic trip in continental US last 12 months 13,460 64.7% 121 Took 3+ domestic non-business trips in last 12 months 3,582 17.2% 135 Spent on domestic vacations in last 12 months: $1-999 2,406 11.6% 109 Spent on domestic vacations in last 12 months: $1,000-$1,499 1,581 7.6% 118 Spent on domestic vacations in last 12 months: $1,500-$1,999 960 4.6% 115 Spent on domestic vacations in last 12 months: $2,000-$2,999 1,214 5.8% 134 Spent on domestic vacations in last 12 months: $3,000+ 2,446 11.8% 165 Domestic travel in last 12 months: used general travel website 1,985 9.5% 142 Took foreign trip (including Alaska and Hawaii) in last 3 years 8,692 41.8% 137 Took 3+ foreign trips by plane in last 3 years 2,160 10.4% 155 Spent on foreign vacations in last 12 months: $1-999 1,464 7.0% 129 Spent on foreign vacations in last 12 months: $1,000-$2,999 1,082 5.2% 116 Spent on foreign vacations in last 12 months: $3,000+ 2,640 12.7% 177 Foreign travel in last 3 years: used general travel website 1,903 9.1% 146 Nights spent in hotel/motel in last 12 months: any 11,670 56.1% 121 Took cruise of more than one day in last 3 years 2,770 13.3% 136 Member of any frequent flyer program 6,601 31.7% 154 Member of any hotel rewards program 6,103 29.3% 137 Data Note: An MPI (Market Potential Index) measures the relative likelihood of the adults or households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the U.S. An MPI of 100 represents the U.S. average. Source: These data are based upon national propensities to use various products and services, applied to local demographic composition. Usage data were collected by MRI-Simmons in a nationally representative survey of U.S. households. Esri forecasts for 2021 and 2026. ©2021 Esri Page 4 of 4 30 Page 35 of 44  REPRESENTATIVE CLASS A MARKET-RATE APARTMENTS DECEMBER 2021 Community/Property/ Floor Plan Rent Size (SF) Availability Total Units Glen Ellyn Avere on Duane 1/1 $1,975+ 868 Full or 437 Duane St. 1/1 + Den $2,475+ 1,030 nearly 48 units 2/2 $3,175+ 1,360 full 2/2 + Sitting $3,475+ 1,470 2/2 + Dining $3,525+ 1,277 2/2 + Dining + Den $3,975+ 1,615 Wheaton Courthouse Square 1/1 $1,913 774 1 250 S Naperville Rd. 149 units Wheaton 121* Studio $1,499-1,699 558 1 121 N Cross St. 1/1 $1,599-2,099 762-897 5 306 units 2/1 $2,099-3,199 1,134 1 2/2 $2,099-3,199 1,105 1 3/2 $3,799-4,199 1,509 1 Lisle Marq on Main* 1/1 $1,823-1,957 676-833 1 4755 Main St. 2/2 $2,146 934 1 202 units Downer's Grove Studio $1,505 507 1 ReNew Downer's Grove 1/1 $1,820-1,845 772-820 1 2845 Easton St. 2/2 $2,280-2,345 1,101-1,226 1 294 units Lombard Apex 41* Studio $1,540 571 1 2760 S Highland Ave. 1/1 $1,680-2,200 719 4 181 units 2/2 $2,229-3,230 1,116-1,386 8 City View at the Highlands 1/1 $1,616-2,108 598-791 12 2720 S Highland Ave. 2/2 $2,052-2,223 1,035 8 403 units The 450 Studio $1,774-1,874 625 12 450 Woodmoor Dr. 1/1 $2,005-2,272 815-976 101 288 units 2/2 $2,790-3,165 1,281 42 * Marq on Main offering 1 month free with December moves. Apex 41 offering 1-2 months free on certain units with 16-month leases (rents shown are for 12 months). Wheaton 121 giving $2,400 discount on studio unit. Note: Availability based on active listings for December 2021. Most buildings will have a handful more available in January. The 450 is still within initial lease-up after first moves began March 1, 2021. 31 Page 36 of 44 Representative Class A Market-Rate Apartments Avere on Duane Wheaton 121 Courthouse Square The 450 City View at the Highlands Apex 41 ReNew Downer's Grove Marq on Main Source: Kretchmer Associates 32 Page 37 of 44 A�ordable Apartments in Glen Ellyn Forest Apartments Brandon Court 520 Pershing Ave. 555 Pershing Ave. Source: Kretchmer Associates 33 Senior All ages Page 38 of 44 Page 39 of 44  Roosevelt Road Hotel Properties DRAFrequently Asked Questions Updated 4.4.2022 SITE INFORMATION 1. What is the size of the of the hotel site? The site consists of six parcels and the Exmoor Avenue right-of-way. In total, the site is 2.2 acres with frontage on both Roosevelt Road and Taft Avenue. 2. What about the current buildings on the site? There are two buildings on the site – a third building was previously demolished. The eastern building is two stories and the western building is a combination of two and three stories. Each building is approximately 20,000 square feet for a total of 40,000 square feet. Both buildings are currently vacant. 3. What is the current zoning? The property is currently zoned C3 commercial zoning which allows for a wide range of auto-oriented commercial uses. 4. What is the Comprehensive Plan designation? The 2001 Comprehensive Plan designates the site for commercial uses. The draft 2021 Comprehensive Plan identifies the site as a catalyst site for redevelopment, appropriate for office, retail or other commercial uses. 5. Is the property within a Tax Increment Financing (TIF) District? Yes, the properties are located within the boundaries of the Roosevelt Road TIF District, which was established in 2013. For more information on the TIF, click here. 6. What are the current site constraints that may impact redevelopment? The site has many challenges. The frontage along Roosevelt Road is limited at approximately 125 feet. The frontage along Taft Avenue is more significant (850’) but less desireable from a commercial standpoint. Exmoor Avenue is public right-of-way VILLAGE OF GLEN ELLYN 1 ROOSEVELT ROAD HOTEL PROPERTIES FAQ’S Page 40 of 44  that splits the property. A large storm water structure is located underneath Exmoor, which will necessitate maintaining an easement overtop the structure. This easement cannot be built upon, restricting potential building layouts. Roosevelt Road is a state route and access is controlled by the Illinois Department of Transportation (IDOT). Changes to site access to/from Roosevelt Road must be reviewed and approved by IDOT. There is also a significant grade change from the north (Roosevelt) to the south (Taft) of the site, which will impact redevelopment costs and site design. 7. What is the history of the site? The hotel buildings were constructed in the 1950’s and were operated as traditional hotels for several decades. Unfortunately, previous owners of the hotels failed to maintain the buildings and they fell into disrepair. The eastern building sat vacant for several years while the western building was operated as an extended stay hotel. Due to the deteriorated nature of the building, it attracted criminal activity. The Village Police Department regularly monitored the properties and were frequently called to address drug activity, vandalism and other illegal activities. The properties were for sale on-and- off for several years. In order to address the ongoing deterioration of the structures and continued criminal activity on the site, the Village stepped in to purchase the properties. 8. Did the Village complete an Environmental Site Assessment (ESA) of the property? Yes, the Village completed a Phase 1 ESA, which can be viewed here. PURCHASE 9. Did the Village obtain an appraisal for the site before purchasing it? What did the property appraise for? Yes, the Village obtained an independent appraisal which can viewed here. The property was appraised at $2.175 million. 10. When did the Village purchase the properties? The Village entered into a Purchase and Sale agreement to buy the properties on July 2021. At the time the Village entered into the agreement, there were 19 guests staying on the property. A condition of the sale was that both buildings must be vacant at time of closing. The Village closed on the purchase of the properties on January 12, 2022. 11. What did the Village pay for the properties and how was the purchase funded? The Village purchased the properties for $2.85 million. The Village paid for the properties through General Fund Reserves ($2,000,000), Corporate Reserve Fund ($500,000) and the Roosevelt Road TIF Fund ($350,000). VILLAGE OF GLEN ELLYN 2 ROOSEVELT ROAD HOTEL PROPERTIES FAQ’S Page 41 of 44 FUTURE USE 12. What does the Village plan to do with the site? The Village has hired a consultant, Kon Savoy Consulting Group, to assist the Village Board in evaluating potential uses for the site. Using feedback obtained through the public engagement process and data from Market Assessment completed by the consultant, the Village Board will evaluate the feasibility of various office, commercial and residential. Ultimately, the Kon Savoy will assist the Village in preparing a Request for Proposals (RFP) to solicit development proposals for the site for redevelopment. 13. Will the Village be demolishing the buildings? The Village is currently evaluating whether to demolish the existing building. Both structures have been secured (boarded up). The Village Board will consider estimates to demolish the buildings and if it is determined in the best interest of the community to do so, the Village will solicit bids in accordance with our purchasing policy 14. How is the Village engaging the public? The Village has set forth a multi-step public engagement process in order to gather community input on redevelopment alternatives for the site. The process includes the following steps: a. Community Open House - March 7, 2022 b. Establishment of an Ad Hoc Work Group - Listening Session, April 6, 2022 (Additional listening sessions TBA) c. Concept Design Charrette d. Presentation to Plan Commission of Concepts & Public Comment e. Presentation of Village Board Concept & Public Comment The public may also comment through Social Pinpoint. Comments can be filtered based on content and sorted by date or popularity. 15. What are the results of the Market Assessment? The Market Assessment completed by Kon Savoy in partnership with Valerie Kretchmer and Associates identified a demand for small scale commercial uses and a variety of multi- family housing uses. It did not identify a demand for office uses on the site, due to existing available space in the market area. The complete Market Assessment can be viewed here. VILLAGE OF GLEN ELLYN 3 ROOSEVELT ROAD HOTEL PROPERTIES FAQ’S Page 42 of 44  16. Once a developer is selected then what happens? All development proposals would be required to provide a proforma and illustrate what the return on investment the Village would receive for any particular proposal. Once a proposal is decided upon, the selected developer will have to negotiate the purchase of the property from the Village, seek the appropriate zoning approvals and obtain all required building and storm water management permits. There will be a variety of public input opportunities throughout the review and approval process which is typical with many redevelopment projects within the Village. 17. There has been some discussion about affordable housing on the site? What is meant by “affordable” housing? “Affordable housing” is a general term that has many different definitions which can include many different types of housing and populations. a. Affordable Housing. Housing that has a value, cost or rental amount that is within the means of a household that may occupy moderate-income or low-income housing. In the case of owner-occupied dwelling units, housing that is affordable means housing in which mortgage, amortization, taxes, insurance, and condominium or association fees, if any, constitute no more than 30 percent of the gross annual household income for a household of the size that may occupy the unit. In the case of dwelling units for rent, housing that is affordable means housing for which the rent and utilities constitute no more than 30 percent of the gross annual household income for a household of the size that may occupy the unit. Source: Affordable Housing Planning and Appeal Act, or PA 93-595 b. Attainable Housing. There is no universal definition of attainable housing. Some identify the term as equivalent to affordable housing and yet others define it as for- sale housing that is affordable to households with incomes between 80 and 120 of the area median income. Many reports on the US Department of Housing and Urban Development (HUD), website use the terms interchangeably. For the purposes of this memo, attainable housing is defined as equivalent to affordable housing. c. Age-in-Place Housing. Diversity of affordable housing in a community that allows residents to remain in their community without losing quality of life and access to familiar community services as they age. Age-in-place and age-in-community are sometimes used interchangeably, however age-in-place is more focused on people remaining in their current homes. d. Low-Income Housing. Housing that is affordable, according to the US Department of Housing and Urban Development, for either home ownership or rental, and that is occupied, reserved, or marketed for occupancy by households with a gross household income that does not exceed 50% of the area median household income. VILLAGE OF GLEN ELLYN 4 ROOSEVELT ROAD HOTEL PROPERTIES FAQ’S Page 43 of 44  e. Acheivable or “Missing Middle” Housing. A type of housing classified by both building type and income bracket of residents; consists of duplexes, townhomes, multi-plexes and other multi-family developments scaled to blend within single-family neighborhoods that are also attainable for single persons, couples, and seniors not living within a senior housing development intended for exclusively seniors. f. Affordable Senior Housing. A type of affordable multi-family residential housing or housing subsidy intended for use by people of retirement age, typically benchmarked as age 65 or older, within the middle- or low- income brackets; this can include, but is not limited to, housing developments such as independent living communities, assisted living communities, and memory-care facilities for those experiencing declining memory function; may also consist of programs which subsidize housing costs for qualifying residents (age and income). g. Workforce Housing. Broadly considered housing which is ‘affordable’ for moderate or middle income households’; specifically considered housing which is no more than 30% of the household income for those households earning 80-120% of the area median income; usually excludes households which do not qualify for housing subsidies; intended for households to live in the communities in which they work. h. Supportive Housing. Supportive housing provides on-site or near-site professional and case management services that assist residents in need of specific support in order to thrive while living independently. These services could range from answering questions and help finding community resources to more complex issues involving intellectual or physical challenges. Educational and social programs are also provided to residents. i. Accessible Housing. Housing is accessible when it is close to essential services like public transportation, schools, grocery stores, and medical facilities. Accessible housing is close to community amenities like restaurants, retail stores and libraries. It also includes accessibility in terms of physical access to the building and within the building as well. 18. Does Glen Ellyn have enough “affordable housing”? This is a challenging question to answer as what constitutes “enough” affordable housing is subjective. Under Illinois State Law, the Village is required to have 10% of its housing stock qualify as “affordable”. Currently, the Village of Glen Ellyn exceeds the State requirement, with a total of 16% of our housing stock being considered “affordable”. VILLAGE OF GLEN ELLYN 5 ROOSEVELT ROAD HOTEL PROPERTIES FAQ’S Page 44 of 44