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3 <br /> For any future owner of this building, a major issue would be to <br /> sort out the division of services between these two buildings. <br /> It appears that negotiation with the owner of the Neumans <br /> building will be required to assure that the Woolworth building <br /> has the necessary services and will never pay for utilities that <br /> are consumed by the Neuman building. An alternative would be to <br /> revise the utilities to make sure the woolworth building has it' s <br /> own systems. <br /> Another interesting piece of information. The lunch counter does <br /> not go with the building. The owner has sold it off to a used <br /> equipment dealer. The dealer has been hoping to find a buyer for <br /> the equipment before he has to move it. He of course will be <br /> taking it out of the building when it is sold. <br /> RENOVATION FOR USE FOR OFFICE SPACE <br /> The main level of this building has 10, 000 sq. ft. of wide <br /> open space. Since this is the most recently used area of the <br /> building, it would be the most adaptable for future use. <br /> Depending on what future use is identified for this space it <br /> could be developed for $20 to $50 per sq. ft. <br /> The upper levels are in much more deteriorated condition. This <br /> space most likely would require all new HVAC and electrical <br /> system. Two new stairs and an elevator would be required to <br /> access these levels. There will be significant demolition to <br /> clear the space for development. With all of the interior work <br /> required the cost of developing these levels would be between $45 <br /> and $75 per net square foot. <br /> The following shopping list of typical costs for remodeling may <br /> be helpful in getting some handle on the cost of developing this <br /> building into some useful purpose. <br /> Low cost High cost <br /> Roofing <br /> Removal and replacement cost at $5/sf $57, 500 <br /> one ply asphalt recoat at $1/sf $11,500 <br /> Installation of stairs to 2nd & 3rd levels <br /> Drywall enclosure & steel stair $10, 000 <br /> 2nd stair 10, 000 <br /> Elevator <br /> Hydraulic elevator to three levels $40, 000 $50, 000 <br /> BLDD Architects - Building Evaluation <br />