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The Reserve Hotel – 7/2019 Update
Demolition is completed


Demolition was completed for all floors 18-22. We are at the final phase of the inspection process. We have applied for construction permits and anticipate receiving it in August and starting construction as soon as possible.We are excited to enter a new phase and look forward to open the hotel in early 2021, approximately 18 months for construction.

The Reserve Hotel – 7/2018 Update
Pre‑construction phase: Demolition


We have completed the soft demo phase of the project, with 18-20 floors completely gutted. We are now in the process of preparing for inspection of these floors, and then submitting for construction permits. We will continue to demolish floor 21-22 in the upcoming months. As the building has one hundred year history, the process and the inspection are tedious to ensure any mechanical system that are connected with the rest of the building are intact.

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The Reserve Hotel – 3/2018 Update
Pre‑construction phase: Demolition


In March of 2018, Mr. Muoi, a Vietnamese investor came to visit the Reserve Hotel site accompanied by Mr. Henderson Le from the Grand Aster Agency. The project has been under demolition since November of 2017. The site shows the 18th floor demolition has been completed and work is now in progress on floors 19 and 20. We also had Ms. Grace Fu, our guest from China, visit our projects in the financial district of Chicago.

They all stayed at the Residence Inn by Marriott at 11 S. LaSalle Street, Chicago, the 1st EB5 project of The Prime Group. This project was completed and had a grand opening in September of 2015. We have already received numerous I-526 approvals for this project within 15 months after submission.

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The Reserve Hotel – 2/2018 Update Pre‑construction phase: Demolition


In February of 2018, demolition has started on the 19th and 20th floor. These floor plans are very similar to the 18th floor. We anticipate the work will go smoothly without delay.

We have guests from India this month.

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The Reserve Hotel – 1/2018 Update
Pre‑construction phase: Demolition


January of 2018 shows more progress with the demolition while snow is outside on the ground. We are lucky this is a renovation project, not started from the foundation. The demolition is expected to be done in the spring and pass inspections before construction can start in the summer of 2018.

We are pleased to see the crew at night often clean up after their work in the same area, making our visit a bit easier. We make sure not to step into the “under demolition” area until it is completely clear out.

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The Reserve Hotel – 12/2017 Update
Pre‑construction phase: Demolition


December demolition was fully underway. Our CFO Jeff Breaden took the time to walk through the floors with our investor groups during their visit. He explained the steps the workers have to take in order to satisfy the inspections in each area of the demolition. They have to coordinate the inspection sequence at different stages; wall partitions, electricity, furnace, water pipes, sprinklers, and more. Much of the previous materials used to construct the ceiling tiles and walls have been in the building a long time. This material is not up to today’s code as some may contain asbestos and have to be removed carefully. Therefore, each stage will be inspected before the next things can be removed.

This building was designed by the renowned architect Mr. Daniel H. Burnham and was completed in 1914. Much of the structure is being preserved and some utilities are shared by the entire building. The entire project has 151,625 square feet, Mr. Breaden said the demolition and inspection process will take about 5-6 months to complete.

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