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<br />October 11, 2005
<br />
<br />Nfr. Jim Simpson
<br />Tile Bank of ELl( River
<br />630 1vlain Street
<br />Elk River. :MN' 55330
<br />
<br />RE= Conceptual Cost Estimate for Downtovm. Bank Addition
<br />
<br />Dear Tn:n:
<br />
<br />Tad Swedin,. the estimator in our office, put together a conceptual squa~ footage cost
<br />estimate. Weare werking on a more detailed estimate that 'Will be more accurate. T.nese
<br />square foot costs i.llclude building, site work, finishes, and professional fees. rileY don't
<br />include bank equipment" signs and fu..-rniture. Built in cabinet work like the teller.line
<br />work is included.
<br />
<br />We do not have the exact level offinish determined but this is a level comparable to the
<br />pT"'...sen! building.
<br />
<br />New Construction
<br />
<br />Lower Level
<br />Main Level
<br />Upnet Level
<br />
<br />6,550 SF @ $165/ SF =
<br />6,832 SF@$185 / SF =
<br />8.278 SF (17), $170 I SF =
<br />21,660 SF . =
<br />
<br />$1,080,750
<br />$1,263,920
<br />$1.407.260
<br />$3,751,930
<br />
<br />Remodel of Exisfuzg
<br />
<br />Main Leyel 3,381 SF @ $90 I SF =
<br />Roof Snow Load Structure Oump sum allowance)
<br />
<br />$ 304,290
<br />$ 100,000
<br />
<br />Contingency 2%
<br />
<br />$ 83,124
<br />
<br />Total
<br />
<br />$4,239.344
<br />
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<br />
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<br />
<br />VA?,U;;i.AN .A~'HjnC'T$ AND 3UJ!.D'U.S IN,c,
<br />669 Winnetka Avenue North · Suite 210 . MinneapoHs. J'v~innesota 55427
<br />888.327.2817 (I 763.541.9652. fax 763.541.9857
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