Northwest Medical Center,
Barron Road
Purchase cost: $3,495,000
Renovations: $5,595,000
(Estimate, as of June 2017)
Possible layout
Basement: Police dept.
Ground floor: Majority police dept., and city court. Portion Municipal Utilities
Second floor: City hall and Municipal Utilities
Building concerns
Identified in December 2017 appraisal and January 2018 building inspection.
* Basement floods "occasionally" during heavy rains.
Appraisal: Apparently caused from the drainage ditches not being deep enough, and an overgrown storm retention pond on an adjoining property. Appears only suitable for storage, evidenced by fact no units occupied by tenants day of the inspection.
* Parts of the HVAC system are nearing the end of their useful life.
Building inspection: Cooling tower system replacement, $250,000; Glycol leak in cooling system, glycol must be constantly fed into system.
System has 70 ceiling mounted heat pumps, 63 are near end of life. Cost $6,000 per unit, or $378,000. Some types of these units will no longer be available after 2020.
System requires maintenance personnel to adjust operation of cooling tower and boiler system day to day.
*Air dryer system used in basement to keep area dry and free of mold.
Building inspection: Seven air dryers in the basement appear to be functioning properly.
* Depreciation: 41.7 percent
Appraisal: Building has effective age of 25 years. Property has an overall economic life of 60 years. Remaining economic life of improvements would be 35 years.
* Cost to construct building similar to Northwest today.
Appraisal: $8,426,245
Based on cost manual figures and appraiser's personal knowledge of area building costs:
Main/middle level -- 57,245 sq. ft. at $113.74 per sq. ft., $6,511,046.30
Basement/lower level -- 17,449 sq. ft. at $74.26 per sq. ft., $1,295,762.74
Covered parking -- 8,457 sq. ft. at $22.98 per sq. ft., $194,341.86
Canopy -- 1,152 sq. ft. at $32.30 per sq. ft., $37,094.40
Parking lots -- 96,000 sq. ft. at $2 per sq. ft., $192,000
Acres -- 5.02 at $39,000 per acre, $196,000
* Parking lot
Building inspection: Could be professionally sealed to prolong life, may need overlay because is 26 years old. Driveways should be spot repaired to correct pavement failures.
* Roof
Building inspection: Anticipate should be replaced in next seven years. Was replaced in 2005. Some areas have been patched.
* Sewer lines
Building inspection: Majority are cast iron. Some have corroded, few sections may need to be replaced in near future.
* Exterior insulation and finish system
Building inspection: Has sustained some damage. Needs to be repaired by qualified contractors. Some insurance carriers will not cover these systems because of product failure and mold.
* Electrical
Building inspection: Minor electrical deficiencies identified after discussions with building maintenance personnel and visual inspection. Includes some ground fault interrupters not working properly on regular outlets, no electrical disconnect to electrical hot water heaters.