Preserving the Past, Ensuring the Future Capital Campaign Fund

WELCOME TO THE NEW ERA OF ALPHA BETA OF THETA XI

Your Help is Needed NOW!!!!

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New Era – New House – Same Tradition

Brothers, we stand on the precipice of a new era for Alpha Beta of Theta Xi. In May, 2008, the old house we all know and love will be demolished in order to build a new house that will anchor the new era of Alpha Beta.

Our History—Nearly a hundred years ago, our predecessors made a historic decision to transform from Pi Pi Rho to Theta Xi. Shortly thereafter, a small group of devoted brothers embarked on a mission to raise the largest fraternity house in the nation, perched impressively atop the mounding corner at 205 East Armory. Funded through the generosity of parents of active members and the Chicago T.X. syndicate, the house became reality in 1926.

Spacious 1^st floor common areas including the foyer and east and west lounges became the perennial social gathering spaces. A fourth floor gymnasium was ultimately converted into the beloved chapter room. The basement, including kitchen, dining room and klotch also saw weight rooms, apartments for house-moms and chefs, Club TX, TV pits, and study rooms. Ahhh…and the open-air dorms where most guys slept until single and double occupancy began to take hold in the 70s and 80s.

But for the enterprising efforts of Brother Fran Koenig (AB162), the fraternity may have met its demise during the great depression. Many of our brothers have served honorably in wars that have transpired during our occupancy of 205 E. Armory, including World War II, Korea, Vietnam, Desert Storm and now Iraq. Unfortunately, time has not been kind to our beloved Chapter house. The way guys lived 50 and 75 years ago is not how college men live today. Housing alternatives are just simply too attractive for Alpha Beta to remain a competitive fraternity on campus.

Our Memories—We each have vivid memories of the rooms we occupied, our roommates, pledge brothers, fellow actives and girlfriends. Whether it was a tremendously successful exchange or pledge dance or a quiet night studying in the dining room, our friendships were formed and nurtured through each life experience in the house. We celebrated sporting victories together and consoled one another after tragic losses of friends and family. There were many a night pursuing the targets of our affections and sometimes we ended up marrying a house sweetheart.

Our Legacy—That house, our house, has stood as the symbol of Alpha Beta for more than 80 years. But the physical structure of the house does not define our fraternity—our bonds define us as Alpha Betas of Theta Xi. We have the benefit of over 1,300 living alumni and we have an obligation to hundreds of our brothers who have passed before us. We, the brothers of Alpha Beta of Theta Xi, must stand tall and support the future generations of our cherished fraternity by contributing our time and money to this new fraternity house to make it everything that we have enjoyed all these years.

It is with this legacy in mind that we ask for your help today with our capital campaign. The wheels are in motion, the contract has been signed and the construction begins this month, May, 2008. By this time next year, the house pictured here to the right will be a reality. Its success will depend in large part to your generosity and support. Please read on!

The Economics of Our New House

After almost ten years of evaluation, fundraising and hard work, the Board of Directors of the Alpha Beta Association of Theta Xi (the “Board”) voted in August 2007 that the best course of action for the future viability and sustainability the chapter is to raze the current physical structure and build a new fraternity house.

Address: 205 E. Armory
Square Feet: 20,900
Occupancy: 77
Profile: Basement + 3 floors above grade
Exterior: Brick +
Total Build Cost: $2,900,000

Funds Pledged to Date: $727,500 (net of allowance for non-collection)
Funds Collected to Date: $415,000
Remaining to be collected: $312,500

Recent Cash Flows

              0 -     Beginning cash
   415,000 -     Pledges collected
(197,000) -     Mortgage paid off
  (25,000) -     Architecural fees
  193,000  -     Remaining cash 5/1/08

Use of Funds remaining

Cost            -     Item
$150,000     -     Half year rent in reserve as a contingency
$150,000     -     Capital reserve
$125,000     -     Kitchen build out - additional costs for mechanicals, equipment, and engineering
$115,000     -     Bedroom, desk, armoire furniture for all suites
$ 85,000      -     Construction upgrades
$ 40,000      -     Common area furniture for all suites
$ 40,000      -     TX items, including crest, stand for Ben, secrets, guard, stars, etc.
$ 50,000      -     Lounge furniture, window coverings and chapter/TV area construction and electonics
$ 20,000      -     Additional landscaping - hardscapes and extra trees
$ 20,000      -     Piano (used Baldwin or Steinway)
$ 10,000      -     Removal and storage of preserved architectural finishes and dining room furniture

$805,000 - Total Needed to restore Theta Xi as a classic fraternity building

($505,000) - Cash and pledges remaining to be collected

$300,000 - NEEDED FROM ADDITIONAL FUNDRAISING

Site Plan & First Floor Plan

Basement & Second Floor Plan

• If you haven’t committed yet, pledge today; better yet, write a check today!
•  If you have already pledged/contributed, double your pledge.
•  Call a brother and encourage him to donate.
•  Volunteer to be a class agent in order to reach out to more brothers.
•  Consider listing Alpha Beta as a beneficiary in your estate plan (call Darrell Butler for details).

As part of the demolition, we have saved 500 bricks from the old house. We are offering these bricks to our brothers in recognition of a one-time donation to the capital campaign of $500.

For More Information Please Contact
Darrell Butler 312-559-1904 or dmbutler@billowbutler.com
Tom Wake 630-536-3701 or tom.wake@eby-brown.com
www.thetaxi-ab.org

TX AB Support To Date

The current capital campaign has been tremendously successful, having received commitments exceeding $700,000, more than ½ of our original goal. Further, it has been one of the most successful capital campaigns at the University of Illinois. However, it is critical that we achieve our original goal of $1,250,000 in order to ensure the financial security of Alpha Beta.