Gladstone Homes
Gladstone Homes (aka Gladstone Builders & Developers)
Gladstone Homes is a semi-custom homebuilder in Northern Illinois. Its primary focus is new-home construction in Chicago's west and southwest suburbs. It is headquartered in the village of North Aurora, approximately west of Chicago and adjacent to Illinois second-largest city, Aurora.
Gladstone Homes is ranked among Chicago’s Top 50 Builders and its Top Privately Held Companies. The homebuilding market has experienced significant change in recent months with a number of builders facing foreclosure on communities and/or bankruptcy. During the market downturn, Gladstone Homes has continued to actively build and sell new homes. This is attributed in part to its ability to manage costs, renegotiate municipal agreements and supplier costs, thereby allowing them to price their homes competitively for the marketplace, all while maintaining quality construction.
In Q4/2008, using its experience and track record for negotiations that has allowed it to remain competitive and stable during the nationwide housing market downturn, Gladstone Builders & Developers launched a new special asset solutions division which manages and revitalizes distressed and foreclosed-upon communities and land developments on behalf of mortgage lenders.
Company History
Gladstone Homes was founded in 1989 by David V. Bolger. Bolger grew up in a family of real estate entrepreneurs engaged in discussions of real estate principles. As he followed his own career path in new home construction, he launched his own company with a single parcel of in-fill land in Lisle, Illinois.
Gladstone Homes has grown into a profitable and experienced developer of suburban single family residential properties with average company sales exceeding $65,000,000.00 per annum.
Gladstone has the managerial capacity and development discipline to act in today’s changing market conditions, including finance, construction management, land acquisition and positioning properties for obtaining and/or advancing municipal entitlements [i.e. infrastructure and zoning approvals by municipal authorities], having zoned, annexed, and developed more than 1,200 suburban Chicago residential building sites. Gladstone Homes has a staff of 30.
Operations
Gladstone Builders & Developers operates through two divisions: Gladstone Homes and Gladstone Special Asset Solutions.
Gladstone Homes specializes in residential development in Northern Illinois. It currently is building new, semi-custom homes in six communities, and has built homes in a total of 25 Chicago-area communities.
Gladstone Special Asset Solutions is a new division launched in October 2008 that serves the banking industry by helping lenders stabilize and recover the maximum possible value of distressed real estate assets in the 2008 economic downturn. Gladstone's proven track record of actually increasing sales 130 percent in a targeted community while Chicago-area new home sales had dropped 53 percent in the same time period, demonstrates its ability to serve this industry.
Current New Home Communities
As of Q4/2008, Gladstone Homes is currently building at six communities in four Chicago suburbs.
North Aurora
Moose Lake Estates
Moose Lake Estates offers Gladstone Homes' Premiere Series semi-custom single-family homes up to . The community encompasses over of land with close to of open space, two ponds and an on-site park. It is located within minutes of the Reagan Memorial Tollway (I-88) exit at Orchard Road.
The Village of North Aurora offers many parks, a nature center and bike trails along the Fox River corridor. There is also a downtown shopping district and a growing number and variety of retail establishments along the Orchard Road corridor.
Gladstone Homes' model homes at Moose Lake Estates include the Premiere Series Jadestone, Wildstone, Riverstone, Elmstone and Seastone.
Windstone Place
Windstone Place also is located in North Aurora near the Reagan Memorial Tollway and Orchard Road. Windstone Place features the builder's Signature Series of homes starting at .
Model Homes at Windstone Place include the Signature Series Artstone, Foxstone and Penstone.
Oak Creek Townhomes & Villas
Oak Creek features fully landscaped townhomes and villas, two- to five-unit single-family structures. The single-family units start at and have open floor plans, large family rooms, two bedrooms, 2.5 baths and lofts or optional 3rd bedrooms.
Oak Creek is located near the Reagan Memorial Tollway (I-88) west of Farnsworth Ave. on Butterfield Road. It is just minutes away from the Chicago Premium Outlets, one of the areas largest retail outlet malls.
Elgin
Woodcrest at Highland Woods
Woodcrest at Highland Woods is Gladstone Homes' newest community. It is located on the west side of Elgin.
Highland Woods is a Crown Community Development composed of xx neighborhoods and new-home construction provided by custom and semi-custom homebuilders. Gladstone Homes is building seven Premiere Series home designs starting at , including three designs developed exclusively for Highland Woods, in the Woodcrest neighborhood which is located adjacent to the on-site elementary school. Other amenities of the development include an exclusive owner's club featuring an aquatic center, sports courts and state-of-the art fitness center.
Highland Woods is located off Route 20, west of Randall Road and offers a model of Gladstone Homes' Premiere Series Miststone, developed exclusively for Highland Woods, and the Premiere Series Ashstone.
Plainfield
Chatham Square
Chatham Square is Gladstone Homes' third and most recent development in Plainfield. The community consists of 322 single-family, and townhome and villa units designed around eight ponds, nearly of open space including more than of walking paths. Chatham Square is in the Oswego 308 School District, and is located near the corner of Heggs Road and 127th Street. It is the only Gladstone Homes community to offer home designs from all three of Gladstone’s new home series – the Premiere Series, the Signature Series and the Luxury Townhome & Villa Series.
Models at Chatham Square include the Premiere Series Riverstone and Neostone, the Signature Series Penstone and Redstone, and the Luxury Townhome and Villa Series Baystone, Marstone, Welstone and Oakstone.
Yorkville
Eaglecrest at Grande Reserve
Grande Reserve is a master-planned community in Yorkville, southwest of Chicago being developed by MPI Development, LLC. Gladstone Homes is one of four builders at Grande Reserve and the exclusive builder in the Eaglecrest neighborhood.
Grand Reserve includes several parks, and a central aquatic center and clubhouse, and offers an on-site elementary school.
New Home Designs
Gladstone Homes Premiere Series consists of 16 home designs ranging in size from to . Premiere Series homes are available at Moose Lake Estates in North Aurora, Chatham Square in Plainfield, Highland Woods in Elgin and Grande Reserve in Yorkville. Premiere Series designs include: Ashstone, Creststone, Riverstone, Wildstone, Jadestone, Seastone, Neostone, Britstone, Greystone, Miststone, Ivystone, Colestone, Briarstone, Brookstone, Elmstone and Greystone.
The five Gladstone Homes Signature Series designs range in size from to and currently are available at Windstone Place in North Aurora and Chatham Square in Plainfield. The are: Megstone, Artstone, Penstone, Foxstone and Redstone.
Gladstone Homes Luxury Townhome & Villa Series home designs are available in two- and, four-unit configurations at Oak Creek in North Aurora and Chatham Square in Plainfield. Individual units range in size from to . Designs include: Oakstone, Baystone, Welstone and Marstone.