Ryland Homes, the nation’s third largest home builder, began testing the waters in the Chicago market in the fall of 1993, and now intends to make a big splash.
Last year, Ryland sold 124 homes here, placing it about 30th in volume in the Chicago area.
But Ryland’s sales goal this year is 500 homes, according to Don Siegel, president of the Chicago division. That total would put Ryland in the top 10.
Siegel said plans call for Ryland to have 11 subdivisions by the end of 1995.
“Our aim is to be in the top 3 in three years,” he said.
Steve Hovany, president of Strategy Planning Associates, a Schaumburg-based firm that tracks home sales, said Ryland has taken an “aggressive stance.”
Hovany added that a national company like Ryland has a lot of options, because of its financial clout, if it wants to become a major player in the Chicago area.
Ryland’s Chicago operation is based in Schaumburg, while the company headquarters is in Columbia, Md.
Nationally, Ryland operates in 17 states and sells about 10,000 homes a year. It has sold more than 110,000 homes since being founded in 1967.
Michael Kelahan, sales and marketing manager, said that even though Ryland is a national company, all the homes here are designed for the Chicago market.
Ryland has six subdivisions locally, one that is opening soon, and four that are in the approval process.
Two of the current developments-Autumn Meadows at Oakhurst in Aurora, and Fieldstone Village in Crystal Lake-are nearly sold out.
Other projects include Autumn Lakes, a townhouse project at Oakhurst, with prices ranging from $107,990 to $172,990; Autumn Grove, a single-family subdivision at Oakhurst, with prices from $142,000 to $172,000; and Heron Bay, a single-family subdivision in Lake in the Hills, with prices from $157,990 to $206,990.
Fairhills of Canterfield just opened in West Dundee. The 65-acre development at the northwest corner of Illinois Highway 31 and Boncosky Road offers 122 lots of about a half-acre each.
The single-family homes range from $215,990 to $249,990.
Scheduled to open soon is McKenzie Station, a 14.5-acre townhouse project in Lisle.
It is planned for 99 units priced from the $140,000s to the $160,000s. McKenzie Station is located on Ogden Avenue, about a half-mile west of Interstate Highway 355.
Two Ryland developments that still are in the approval process are Briargate in Grayslake and Wyndham Cove in Schaumburg.
Briargate, a 25-acre townhouse project planned for 200 units, is located at Illinois Highway 83 and Lexington Lane.
Units are expected to range from the $110,000s to the $130,000s.
Wyndham Cove, an 11.6-acre townhouse project, is planned for 84 units priced from the $140,000s to the $160,000s.
It is located at the southeast corner of Schaumburg and Meacham Roads.
Ryland also is seeking approval for new developments in Algonquin and Naperville.
– Chicago-based Norwood Builders Inc. has opened preconstruction sales at River’s Edge at Sauganash, a new condominium development in Chicago’s Northwest Side.
Planned for 260 condominiums, River’s Edge will include five five-story buildings.
The one-, two-, and three-bedroom units are priced from $109,900.
River’s Edge is situated on 16 acres bordered by the LaBagh Woods Forest Preserve and the North Branch of the Chicago River. The site includes 80-foot-tall mature oak trees.
The 11 floor plans include one to two baths, 6-by-16-foot balconies and master suites with private baths.
The buildings will have all-brick exteriors and indoor, heated parking.
River’s Edge is located at the northwest corner of Foster Avenue and Pulaski Road.
– Phase 2 has opened at Filmworks Lofts, an 86-unit condominium building at 1330 S. Wabash Avenue in the South Loop.
The 30-unit Phase 2 includes six two-bedroom, two-bath penthouse units on the 10th floor, offering views of the Loop and Lake Michigan.
Ranging in size from 1,442 to 1,902 square feet, the penthouses are priced from $209,500 to $289,500.
The three penthouses on the north side have 17-foot vaulted ceilings. All of the apartments have balconies.
In addition to the penthouses, another 20 units are available on floors six through nine.
The 13 two-bedroom units are priced from $144,500 to $192,500, while the seven one-bedroom units are priced from $119,500 to $139,500.
The development, which includes a three-story building, has more than one parking space per unit.
Indoor and private garage spaces range from $9,500 to $14,500, while outdoor spaces are $3,500.
It is located in an historic loft building district, which served as a film exhange and supply area for the exhibitors who ran Chicago’s 1,100 movie theaters.
The district deteriorated in the 1960s after the emergence of television and the closing of many movie houses.
The developer is Wolverine Investments.
– A five-acre tract of land with an approved site plan for a six-lot subdivision will be auctioned by Rick Levin & Associates, a Chicago-based real estate auction firm.
Located on the south side of 87th Street just east of Madison Avenue in Burr Ridge, the site originally was priced at $1.25 million.
On-site inspections are scheduled from noon to 2 p.m. on Wednesday and April 6.
Deadline for sealed bids is 5 p.m. April 14. For more information, call 312-587-8800.
– John P. Carroll has been named president and chief operating officer of Kirk Corp., based in Streamwood.
In his new position, Carroll will be responsible for overseeing day-to-day operations. He will report directly to the firm chairman, Donald Kirk.
Prior to his appointment, Carroll, 33, served as executive vice president of Kirk Corp., beginning in October, 1993.
An 18-year veteran of the home building industry, Carroll served as a project manager and director of land acquisition and development for Centex Homes from 1988 to 1993.
Before that, he spent a decade working for Carroll Builders, a Chicago- based home construction firm owned and operated by his family.
Homes by Kirk, a division of Kirk Corp., has four subdivisions under development, including Gleneagle Farm, its newest residential community.
The 190-acre subdivision in Carpentersville is planned for 322 single-family and 287 multifamily homes.
The other three communities include Bloomfield Village in Bolingbrook, Wildmeadow in South Elgin and Roseglen in Buffalo Grove.
– Preconstruction prices are available at Thomas Charles Estates in southwest suburban Hickory Hills.
Located on the northeast corner of 87th Street and 86th Avenue, the development is being built by Eire Construction.
Four buildings will be constructed, each with five or seven townhouses. Prices range from $122,400 to $131,400.
The 24-unit project offers two-story residences with 1,500 square feet of living space and 600 square feet of additional space for storage or recreation use in the full basement.
