Capital Reserve Study - Manhattan Station
Project Details: Carlile Group conducted a Capital Reserve Study for Homestar Bank in partnership with Cornerstone Engineering, Inc.
In the study, the property was inspected with all systems including: mechanical, landscaping, masonry, roofing, electrical, and facade.
The evaluation included observations, photographic documentation, estimation of remaining useful life left in each component, and estimated cost to repair.
A Capital Reserve Study is a budgeting tool often used by home-owner associations, condominiums, and other communities who share common areas and capital expenditures. This identifies the current condition of property assets and systems, and projects when major repairs and replacements will be necessary. This study includes estimated cost projections for the repairs and replacements, allowing for the community to establish a plan to generate sufficient funds to cover the expenditure when it actually occurs.
Project Year: 2016
Location: Commercial Condominiums
25640 Gougar Road
Manhattan, IL 60442
Scope: Property Capital Reserve Study and Report.