❞ كتاب MARKET ANALYSIS OF HISTORIC GAS STATION PROPERTY by Russ Kashian & Renee Pfeifer‐Luckett Fiscal and Economic Research Center University of Wisconsin – Whitewater Hyland Hall August ❝

MARKET ANALYSIS OF HISTORIC GAS STATION PROPERTY by Russ Kashian & Renee Pfeifer‐Luckett Fiscal and Economic Research Center University of Wisconsin – Whitewater Hyland Hall August

2011م - 1445هـ
MARKET ANALYSIS OF
HISTORIC GAS STATION PROPERTY
by
Russ Kashian
&
Renee Pfeifer‐Luckett
Fiscal and Economic Research Center
University of Wisconsin – Whitewater
Hyland Hall
August 2010
Contributors:
Principal Researchers
Russell Kashian
Renee A. Pfeifer‐Luckett
Justin J. Kasper
Data Administration and Auditing
Christie Kornhoff, Administrative Assistant
Table of Contents Page
Introduction 1
Historical Overview 1
Location Overview 1‐2
Literature Review of Historic Service Station Renovation 2‐4
Current Economic Outlook for Janesville 4‐5
Funding Renovation & Redevelopment 5‐6
Wisconsin Historic Preservation Tax Incentives
Tax Incremental Financing
Situation Analysis 6‐7
Conclusion 7
Appendices:
Appendix A: Business Located Near Franklin & Wall Streets (two‐block radius) 9
Appendix B: Current Use of Historic Gas Stations (90 mile radius of Janesville) 10
Appendix C: Wisconsin Economic Outlook, August 2010 (attachment)
Appendix D: Wisconsin Historical Society ‐ Historic Preservation Tax Incentives (attachment)
Appendix E: Wisconsin Historical Society ‐ Guidelines for Planning Historic (attachment)
Preservation Tax Credit Projects
‐iIntroduction
This market study for the Standard Oil “Super‐Service Station” property located in downtown
Janesville Wisconsin was prepared to provide information to those interested in making productive and
profitable use of property. Included in the market analysis is an overview of the property and it’s location,
a literature review revealing how like properties have been managed in other communities, an economic
outlook for Janesville, and a discussion of property renovation funding opportunities. Lastly, this report
provides a situation analysis or “SWOT” of repurposing the gas station property.
Historical Overview
On the corner of Franklin and Wall Street in downtown Janesville resides an historic – yet
currently vacant – 1930’s Spanish Colonial‐style Standard Oil Service Station. The L‐shaped building
includes details such as decorative tile insets and red‐clay‐tile, as well shed‐roofed parapets that resemble
the tile roofs of typical Spanish Colonial homes of the era. Standard Oil originally constructed this brick
super‐service station in an effort to take advantage of a prime location on the city’s main thoroughfare,
Route 14 (now Business Route 14).
Built as a “super‐service station,” Standard Oil consolidate a number of automobile‐related
activities under one roof and created an attractive “one‐stop shop” for customers The former superservice
station housed a sizable showroom to display the newest product lines of tires, batteries, and
other automobile accessories. By expanding the products and services sold, the visibility of the business
increased and the super station was able to generate supplementary income. A high degree of
competitive pressure, coupled with the turbulent economy of the Great Depression, forced petroleum
retailers such as Standard Oil to provide a wide variety of reliable products and services to their customers
in order to create a competitive advantage in the marketplace. In this regard, Janesville’s super‐service
station once offered practically any product or service needed to maintain an automobile of the time –
from brakes and tires to oil changes and washing. The large service bays were outfitted with latest
equipment of the era, including hydraulic lifts (instead of pits), machines to repair tire tubes, and
specialized equipment for changing car batteries.
Standard Oil’s super‐service station in downtown Janesville housed tire‐ and automobile‐related
businesses throughout its existence, with the exception of a period in the late 1970’s when it was vacated
for several years. In the early 1980’s, H&H Automotive took over operations and continued to occupy the
super‐service station for more than twenty years. In 2002, new Janesville police facilities were proposed
to be built on the site of the historic service station; however, the building survived the threat of
demolition. The City of Janesville now owns the building.
Despite the fact that the Standard Oil super‐service station is eligible for listing on the National
Register of Historic Places, the future of building has once again come into question (2008 Wisconsin
Historical Society Press). Furthermore, the gas station has gained significant notoriety “online,” and is
prominently featured on the blog “Fuelish Thoughts: Wisconsin Gas Stations” (visit
http://fuelishthoughts.blogspot.com/).
Location Overview
The City of Janesville is considering the renovation of the 1930’s super‐service station by
appropriate investors/developers. Since the building, which is located in what some would consider the
“center of city government,” currently crowds the east wall of the police station. Due to its location, the
building also runs the risk of being torn down to provide additional parking or green space. However, due
to the building’s historic significance and interesting architectural features, renovation of the building by
an appropriate investor/developer is an attractive alternative.
‐1‐
Franklin



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