Plante Moran Cresa determined market values of individual portions of the property, enabling the leadership team to isolate assets and make cost-effective decisions as future needs arise.
The challenge
The Benedictine Sisters of Chicago needed expert guidance to assist them in determining whether the time was right to renovate their existing monastery, build a new monastery, or explore other creative alternatives, such as relocating to a larger existing facility.
The solution
The sisters engaged Plante Moran Cresa (PMC) to investigate all practical options based on the community’s financial realities and mission needs.
Our team first gathered all basic property information on the existing monastery. Then, we gathered and analyzed operational costs, capital needs, market value, and high level TRENDS information. Finally, we developed a master plan for the community’s real estate.
The benefit
PMC subsequently performed a financial analysis to take advantage of potential market opportunities for repurposing the building beyond selling. Our team also determined market values of individual portions of the property, building, and land, enabling the leadership team to isolate assets and make cost-effective decisions as future needs arise.