Today, outsourcing jobs to India is increasingly popular. But in the late 1960s, one native of that country outsourced himself to the U.S.
Ishwar Alim left Bombay for better job opportunities in the U.S. An engineer by profession, he had no idea in 1969 that he would later build million-dollar homes here.
Alim selected Chicago for the start of his new life because “that was where the only friend I knew lived,” he said.
He became aware that home building can be profitable after he built his first house in 1978 in Oak Brook.
“My brother, who is an architect, helped me with the design,” Alim said.
At the time, he had a full-time job at General Electric.
“When I sold the house, my profit was almost a year’s salary,” Alim said.
Then he bought a lot in Lincolnshire from former Chicago Cubs player Bill Buckner and built another house, with the same design as the one in Oak Brook.
“When I sold it, I broke even at a time when mortgage interest rates had risen to 22 percent. I realized then that I must be doing something right,” he said.
He continued working, moving to Abbott Labs and then Exxon Corp. before launching a full-time career in home building in 1984.
“I’ve never looked back,” he said.
Alim built his first million-dollar custom house in Oak Brook and parlayed it into more contracts. From 1992 to 1996, he built 11 houses in Donovan Glen in Northbrook.
Based in Lake Forest, Alim Builders has expanded along the North Shore, building some 40 homes in Highland Park, Glencoe, Lake Forest and elsewhere.
Last year, he sold a $3 million mansion in Lake Forest that sported all the latest luxury home bells and whistles, including an automation system, home theater and four-car garage,
Now, though, the market has slowed.
“Interest rates are up and there a lot of homes available. When there’s bubble talk, buyers go into hibernation,” Alim said.
His strategy is to build in a lower price range. The newest project of Alim Builders is at Jonathan Knolls in Wadsworth. The five-lot subdivision offers residences ranging from $800,000 to $900,000 with 4,500 to 5,000 square feet.
Has his background from India helped business?
His buyers are about 15 percent to 20 percent from ethnic backgrounds, Alim said. He caters to Asian buyers with his knowledge of feng shui and its Indian version, Vastu Shastra.
“You position the house so it produces the most positive energy inside,” Alim explained.
