The herons live free at Valley Lakes.
Humans, though, have to pay for their “nests” at the huge, new housing development in north suburban Round Lake.
The natural setting attracts both birds and people.
Unlike so many subdivisions with fanciful names, Valley Lakes is a fairly accurate description of the gently rolling property. A large wetland and a lake lie in a valley, while homes are being built on higher ground.
A heron rookery at the center of the wetland will be fenced so the birds are not disturbed. The herons fly in every year and stay from mid-April to mid-August.
Home buyers, naturally, come for a longer stay.
Dan and Tracy Schmidt and their 14-month-old twins recently moved into a home at Heron Landing, one of the 21 neighborhoods at Valley Lakes.
“I like the parks and the nature preserve,” said Dan. Another plus is that his mother and stepfather live just a block away. He grew up in the area and works in Libertyville.
Tracy explained that they had been living in Round Lake and needed more room because of the twins, Marisa and Zachary.
Built by Cambridge Homes, their four-bedroom house is on a cul-de-sac. “It’s quiet and our back yard looks out on trees and land that won’t be developed. A pond is nearby and a big park is about a block away,” she said.
The park is one of the amenities put in by the overall developer of Valley Lakes, Pritzker Realty Group, the real estate arm of the Pritzker family.
One of the Chicago area’s mega housing developments, Valley Lakes spreads out over 865 acres. Planned are more than 1,800 residential units that will add 4,000 to 5,000 new residents to Round Lake when construction is completed in an estimated four to five years.
The housing mix will include 1,000 single-family homes, 575 townhouses and 260 rental units. Plus, 25 acres have been set aside for commercial use.
Since opening in 1998, more than 200 homes have been occupied and sales are expected to hit 300 by year-end, said Stephen Fennell, vice president of Prizker Realty Group.
The master plan calls for more than half of the acreage to be left open. An estimated 30 to 35 percent of the lots will border on trees, ponds, parks and nature areas, said Fennell. He estimates the total value of construction at Valley Lakes will be $350 million at build-out.
“There are many ways to create an identity. At Valley Lakes the theme is natural beauty and open space,” said Fennell. With that theme as the main selling point, other ways to develop the property were rejected, including building a golf course or a recreation center with a swimming pool.
In addition to capitalizing on the natural amenities, the master plan sets a traditional tone. “We’re trying to re-create the feeling of an older, established community,” said Fennell. Features include a gazebo in the park, vintage-style street lights and a land plan to promote neighborhood friendliness. “We cluster homes on smaller lots, have narrower streets and reduce the setbacks from the streets.”
As the land developer, Prizker installs the infrastructure–water, sewer, streets, sidewalks, parks and ponds–and then sells the improved lots to builders.
Located southwest of the intersection of Illinois Highway 134 and Fairfield Road, Valley Lakes is divided into two sections. About two-thirds of the land is north of Nippersink Road and one-third is south.
Two Metra commuter stations are nearby, including one that will be within walking distance when the Valley Lakes trail system is complete.
Four builders are operating at Valley Lakes: Centex Homes, Cambridge Homes, Neumann Homes and William Ryan Homes. A fifth builder, Remington Homes, recently purchased land for 52 single-family homes and 87 townhouses, according to Fennell.
All this competition works to the advantage of potential buyers, who can make comparisons. Most of the homes are in roughly the same price range, with the major appeal to first-time buyers and first-time moveup buyers.
“Valley Lakes is a great piece of property,” commented real estate analyst Trace Cross. He predicts that “it will come into its own over time. The location will become more valuable as other projects in the area sell out and as the economic base strengthens.”
A resolution of the Brooks Farm problem also will be helpful, Cross added.
Brooks Farm, a large subdivision at the northwest corner of Valley Lakes, was shut down earlier this year by the bankruptcy of United Homes, the builder. Several boarded-up, half-finished homes line the streets.
The only building going on now at Brooks Farm is being done by Remington Homes, which bought part of the tract.
Meanwhile, work continues at Valley Lakes, which is preparing to open a new section south of Nippersink Road.
Roads are almost completed and landscaping is under way. An 8.5-acre park will be built in the heart of this phase. Another park of 11.5 acres will be developed overlooking the wetland in the north section.
The first builder at Valley Lakes was Centex, which is building the Grove and the Arbors, with 109 and 160 lots, respectively. The homes, from 1,486 to 2,560 square feet, are base-priced from $154,990 to $210,990.
Centex’s sales manager, Tony Albachiara, praised the development: “They (Pritzker) did it right, but some first-time buyers are not willing to pay 3 to 6 percent more for the amenities here.”
As for schools, Albachiara pointed out that a new elementary school is being built nearby at the southwest corner of Nippersink and Wilson Roads. “Big Hollow Elementary District 38 saw growth coming and (is) planning for it,” he said.
Cambridge Homes is building 80 homes at Herons Landing. Offered in 11 styles, they range in size from 1,450 to 2,475 square feet with base prices from $167,990 to $196,990.
Neumann Homes began with Prairie Springs, and now will start two new neighborhoods south of Nippersink Road–Parkside, with 83 lots, and Summer Glen, with 82. The homes range in size from 1,397 to 3,115 square feet and in base prices from $150,990 to $225,490.
William Ryan Homes is just getting rolling at Valley Lakes. Its neighborhood, called Ancient Oaks, comprises 47 lots, and the company has an option to buy 80 more. Two models are are expected to open by the end of October, according to Peter Balistreri, vice president of sales and marketing for William Ryan.
“We’re targeting moveup buyers,” he said. The residences range in size from 1,924 to 2,803 square feet and have base prices from $197,990 to $230,990.
“Almost all our lots back onto wetlands, woods or ponds, and we offer walkout basements on about 50 percent of the sites. Nowhere else in Lake County can you get wooded home sites with walkouts in this price range,” Balistreri maintained.
William Ryan has a three-car garage option. Balistreri believes it will be popular because many buyers will want the extra space for a boat. The Chain o’ Lakes recreation area is just a short drive away.
As Valley Lakes develops, it will have an almost custom look because of the architectural variety offered by all the different builders, said Balistreri.
Homeowners at Valley Lakes, who receive Lake Michigan water, pay an annual association fes of $240, mainly for maintenance of the landscaping and wetlands.
