PROPOSAL FOR Michael’s Wine & Spirits

1455 W. Taylor Street

ABOUT THE OWNERS • Married to Akata with two children – one in preschool in the community. • Bachelor’s degree in business from DePaul University • Akata has a Bachelor’s degree from UIC and a Master’s in Occupational

Therapy. • Akata works as an Occupational Therapist-Specializing in Pediatrics at

Rush University Medical Center since 2007. • We are homeowners in the neighborhood since 2006. • Small business owner of an upscale wine shop in Rosemont, IL since 2008 • Volunteer in our community on public safety, neighborhood cleanliness

and frequently contact Ald. Ervin re: quality of life issues in our community to better it.

• We live in the neighborhood, are family oriented and have vested interest

in our great community.

Outline of Products & Services

• Décor & Design to fit Little Italy • Specialty Craft and Premium Beers • Imported & Domestic Beers • Wide selection of domestic & international wines from all regions • Premium spirits & eclectic liqueurs • Humidor for fine cigars • Made to order gift baskets for all occasions • Hours of Operation

– Monday to Thursday: 11:00am to 10:00pm – Friday & Saturday: 11:00am to 11:00pm – Sunday: 11:00am to 8:00pm

WILL NOT SELL • Low end malt liquors, 40oz btls or individual bottles or

cans. • Low-end fortified wines, liquors and beers • Low-end boxed wines • Miniature bottles of liquor • Low-end liquor bottles less than 200ml • Lottery, chips etc. • This is not a convenient store, it’s a upscale wine and spirits

shop.

Process thus far • Saw Location • Met the landlord – Wendy • Met Alderman – discussed business plan • Met UVA & C4C – community support/input is important • Adapted business plan according to community concerns per UVA &

C4C • Got UVA approval letter– proceeded further • C4C director visited Rosemont store • Town hall meeting at STEM Magnet to hear further concerns • Addressed all concerns because community input is important

Rosen and Shanes, Taylor Street - October 1988

The Landlord •The property is owned and operated by WG Holdings, LLC. •The Members of the LLC own and operate 10 buildings throughout

•Chicago with an exceptional reputation of well run attractive buildings.

•We are extremely dedicated to the neighborhood and plan to own this building long term. We eat in, shop in, and enjoy this neighborhood immensely.

•The building has 2 large Residential Units + the Retail Space We Fully renovated the interior of the residential units in 2012 • We have exceptional high end professional tenants in the residential units

•Prior tenant – LA Tan vacated the space in November 2012 without notice to the Landlord

Landlord’s Marketing Efforts Of Vacant Commercial Space

•Immediately upon LA Tan’s departure we secured the commercial space and started our efforts to secure a new commercial tenant. •We were unfortunately “tagged” by graffiti 3 times since LA Tan vacated!

•A large sign was put up in the window, we spoke to the UVA about our space in December 2012, local brokers were called, the space was put up on the Multiple Listing Service (MLS) as well as on Loopnet.

•We immediately began receiving phone calls for showing and were excited to move forward.

•Loopnet Displayed our space to 664 people searching for our type of property and location

•The MLS Listing was viewed 93 times

•We had approximately 60 phone calls 20 serious showings between November 2012 and May 2013

Potential Tenant Details • Our most serious negotiations happened with the following types

of businesses:

1. A Caribbean restaurant and bar (seeking a 3am liquor & music license)

2. A music & bar venue (seeking a 3am liquor & music license

3. A Gelato / Frozen Yogurt shop (who pulled out at the last minute when a competing frozen yogurt shop planned their opening a block west of us on Taylor Street)

4. A falafel shop – (who needed “black iron” installed and could not afford the timeline it would take to get the permits from the City)

5. A 7-11 type convenience store (who would have been selling similar alcohol related items like 7-11 down the street)

6. Our most recent call came from a Hookah Lounge operator!

Why We Chose to Go With Michael’s Wine & Spirits

• After many serious inquiries, showings, and negotiations; we chose to move ahead with Mike Sharma’s High End Wine shop for the following reasons: 1. The other potential tenants would have been difficult in

regards to licensing, construction, and / or negative impact on the community.

2. He is an experienced operator of a similar store in Rosemont, IL

3. He and his family are from the UIC / Little Italy neighborhood – he is vested in the success of the store in his neighborhood

4. He was going to be selling only high end products 5. He is making a substantial investment into the space (as

are we!) 6. We feel there is a demand for his store’s products in the

surrounding community. 7. His store lies outside of the 100 feet requirements of the

STEM School location