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Home Value Surpasses Marketplace Average

Chicago Tribune
February 26, 2005
Special Real Estate Section

With six communities in the west and southwest suburbs and two more planned later this year, Naperville-based Gladstone Homes is a rising star in the Chicagoland new housing market.

"Our success has been phenomenal," said Gladstone Founder and President Dave Bolger. "Beyond the numbers - which we're very pleased with - we measure success by the feedback we get from customers. We find that they are truly satisfied, appreciate the elegant décor and top-of-the-line amenities, and recognize the superior value of a Gladstone home." One of the things that sets apart Gladstone Homes is value that goes beyond the initial purchase of its fair-priced, high-quality homes. Data shows that the appraisal value of a Gladstone home increases an average of 10 percent per year, compared to an estimated industry average of 6 percent.

"This means that many of our customers are seeing six-figure increases in the appraisal value of their home in as little as three years," Bolger said.

Gladstone homes are known for their attractive architectural touches, such as tray ceilings, crown moldings and wainscoting that are available throughout most models. They are built with quality timber construction, Barber and Ross double-hung wood-frame windows, furniture-quality cabinets by Wellborn Cabinetry, Inc., and two-story foyers and family rooms.

Many of the homes have look-out basements and offer standard features, such as custom oak staircases, six-panel solid-wood doors and all-brick fireplaces, that are not typically available on similar quality homes.

A straightforward, customer-focused approach and a philosophy of providing a warm and welcoming environment to homebuyers before, during and after their home is built also distinguishes Gladstone.

"A lot of companies will boast about great floor plans and ease of the buying process," said Bolger. "There are a lot of good homebuilders in the region. However, we believe we raise the bar a bit higher."

Bolger says the Gladstone difference is apparent as soon as you walk through the door of one of his homes, or even when you look at the company's Web site. He encourages homebuyers to compare it to other builders' sites to see the extra care that is taken to make home buying easy and pleasant.

"It's the little things we offer, like large, clearly displayed and easy-to-read floor plans that include room dimensions, virtual tours and, coming this summer, our Design Center online," he said. "We put a lot of emphasis on making sure the quality and elegance of Gladstone Homes is evident on the site. It's the first point-of-contact with many of our buyers and we want them to know, right off the bat, that we make an extra effort every step of the way."

Bolger's philosophy stems from a lifetime in the housing business. In 1958 his father, Vincent, founded Gladstone Realty in Franklin Park. Dave took his home-grown real estate knowledge, added a degree in real estate and construction management from the University of Denver, and founded Gladstone Builders and Developers, Inc., with a single parcel of in-fill land in 1989. He was just 25 years-old.

After completing a degree in business management at Lewis University, Greg Bolger, Dave's brother, joined the firm in 1992. Along with serving as vice president and a key strategist, Greg oversees construction of new homes and is the firm's lead on efforts with Habitat for Humanity and green construction initiatives.

"Greg has made significant contributions to our growth," his elder brother said. "Raised with the same service-oriented philosophy, it was natural to have him on board with me." In just a little more than 15 years, the company has grown to employ nearly 30 people and is expected to build more than 200 homes this year. Homes planned for Eaglecrest at Grande Reserve, a new master-planned community near Yorkville are among the count.

Gladstone is offering single-family homes on 90 premier sites that are adjacent to or within easy walking distance to Grande Reserve's Aquatic Center and Clubhouse. Eaglecrest is one of 19 distinct neighborhoods being developed at Grande Reserve and will offer 10 different models with outstanding floor plans and pre-construction prices ranging from $300,000 to $500,000.

Other Gladstone communities include:

Moose Lake Estates of North Aurora encompasses more than 133 acres of land, and offers lots at least 14,000 square feet, along with 17.8 acres of open space and an on-site park. It is located near Randall Road, just minutes from I-88 with prices starting at $382,000. Heritage Oaks of Plainfield offers a blend of townhomes and single family homes with 28 acres of open space in Plainfield School District 202. Prices begin at $379,000 for single-family homes and near $250,000 for townhomes.

The Estates of Thornberry Woods at Woodridge/Naperville is composed of 64 choice lots near 75th and Green Road, just minutes from I-355, Route 53 and Metra lines. Prices start at $542,000 in this School District 203 community.

Water's Edge of Plainfield, on Route 126 near I-55, and Woodland Meadows of Gilberts, near Randall Road and I-90, are in their final phases of development with completion expected this year.

Gladstone also will offer homesites this year at Windemere in Grande Park, another master-planned community, in Plainfield.

To see Gladstone Homes' floor plans, take a virtual tour of its homes, find locations of models to visit and register with a Gladstone sales consultant, go to www.gladstonehome.com. You also may reach Gladstone Homes at (630) 428-4000.