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Vol. 25 No. 5 CONSTRUCTION COST CASE STUDY
The costs for this case study are from a project that IVI has monitored on behalf of a lending institution.
May 2010
Project
High-Rise Office (Core and Shell)
Chicago, Illinois
High Rise Office Building, Chicago, IL
Size 48-story, 1,342,000 SFG; 6-parking levels
Site 0.75 acre
Schedule 28 months
Delivery Guaranteed Maximum Price
Labor Union
Outline Specifications
Site Excavation, grading, utilities, hardscape and landscaping
Foundation Concrete caissons supporting 10’ concrete mat foundation
Superstructure Structural steel frame supporting composite concrete/metal deck elevated floor slabs
Facade Aluminum and glass curtain wall
Roof “Green Roof” – planting substrate, filter fabric, protection mat over rigid insulation, and fluid applied asphalt membrane waterproofing
Lobby Stone flooring and walls with painted drywall ceilings
Elevators 20 gearless traction elevators and two (2) geared traction elevators
Sprinklers 100% coverage; dry pipe system in parking levels; wet pipe sprinkler system elsewhere
Plumbing Cast iron sanitary waste and vent piping; copper domestic water supply; electric domestic hot water heaters
HVAC Three (3) 1,100-ton electric chillers and rooftop cooling towers, distributed via VAV boxes; heating all electric: electric resistance coils within the VAV boxes on office floors; electric unit heaters in parking areas
Electrical 30,000 amp, 277/480 volt, 3-phase 4-wire service, and a 1,500kW emergency generator
Direct Cost Synopsis
Trade Rounded Cost Cost Per SF
Excavation $1,603,000 $1.19
Caissons 1,099,000 0.82
Site Improvements 1,407,000 1.05
Subtotal Site $4,109,000 $3.06
General Conditions (8%) $329,000 $0.25
General Contractor Fee (3%) 133,000 0.10
Total Site $4,571,000 $3.41
Concrete $26,478,000 $19.73
Masonry 8,356,000 6.23
Metals 33,880,000 25.25
Carpentry/Drywall 6,393,000 4.76
Thermal/Moisture Protection 5,408,000 4.03
Doors/Windows 39,433,000 29.38
Finishes 2,262,000 1.69
Specialties 681,000 0.51
Equipment 205,000 0.15
Elevators 15,661,000 11.67
Fire Protection 2,693,000 2.01
Plumbing 4,753,000 3.54
HVAC 11,693,000 8.71
Electrical 16,138,000 12.03
Subtotal Base Building $174,034,000 $129.68
General Conditions $13,923,000 $10.37
General Contractor Fee 5,639,000 4.20
Total Base Building $193,596,000 $144.26
Total Rounded Direct Cost $198,167,000 $148.00
Cost Distribution
Case Study Pie Chart

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