To say the 55-unit building in Chicago’s South Shore neighborhood was in disarray when it was changing hands in 2009 would be an understatement.
>” […] the building is among the first in the Midwest — and only three in Chicago — to achieve the Environmental Protection Agency’s new Energy Star certification for multifamily buildings. Also receiving the designation were two condominium buildings in Chicago, 680 N. Lake Shore Drive and River City, at 800 S. Wells.
[…] Jeffery Parkway also stands as an example of how an older, smaller, affordable apartment building can be made more comfortable for its tenants while saving its owner cash in the long run.
Seeking a neutral third party to help them figure out the entire scope of a rehab project, the Soods obtained a free energy audit of the building and its systems from Elevate Energy, a Chicago-based nonprofit that works with consumers and businesses to improve energy efficiency.
Elevate looks at historical analyses of a building’s energy use and compares it with similar buildings in terms of age and size. Then it performs an on-site performance assessment of the existing heating, cooling and lighting systems and makes recommendations for potential improvements. […]
“The average cost of a retrofit is about $2,500 to $3,000 a unit,” Ludwig said. “We’re not talking about huge-ticket items. A lot of times we are trying to identify the most cost-effective retrofit measures, how can we tighten the building envelope. It doesn’t have to mean a new boiler is going in the basement.”
However, in the case of Jeffery Parkway, it did mean a new steam boiler and new water heaters, among other upgrades.
The project was financially feasible because of a loan from nonprofit Community Investment Corp.’s Energy Savers loan program, which offers a seven-year loan with a 3 percent fixed interest rate for qualified upgrades made to buildings in the seven-county Chicago area and Rockford. […]
“We will cover any of the recommendations that show up in the energy assessment, and we’ll also do other energy-related improvements,” said Jim Wheaton, manager of the Energy Savers program. “This is not a program designed for the North Lake Shore Drive high-rise. It’s designed for buildings affordable for working folks.”
Multifamily buildings receive an Energy Star score of 1 to 100, and those that score above 75 can apply for the certification. Nautilus’ building received a score of 99.
“The savings are tremendous,” Sandeep Sood said. “We were facing, just on the gas bill, a $60,000 bill a year. As of last year, our bill was $18,000. It was an unbelievable savings.” […]”<