Several new mid-size active adult projects are under way, a sign that it may be some time before we see another really big development like Del Webb’s Sun City in far northwest suburban Huntley. The new developments have 700 to 1,000 homes, much fewer than the 5,500 at Sun City.
It’s difficult to find well-located land for huge projects, developers say. Small projects have appeal for older buyers who want to live near longtime homesteads. The trick for developers is to make the projects just big enough to include the amenities active adult home buyers want, such as golf courses, swimming pools and other activities.
“It’s a big dilemma,” said Steve Hovany, president at Strategy Planning Associates, a housing consulting firm in Schaumburg. He figures an active adult project needs at least 500 houses to pay for country-club style amenities, the costs of which are spread among homeowners through association fees.
Sales recently started at Carillon Club in Naperville, an active adult project by Libertyville-based Cambridge Homes. The 220-acre project, just west of Ill. Highway 59 on 95th Street, will have 443 single-family homes, 260 townhouses and 203 condominiums. Single-family homes range from about 1,700 to 2,500 square feet. Prices range from $363,000 to $456,000. Town homes start at $276,000.
Projects such as Carillon Club with about 1,000 homes are the right size, according to Dave Smith, vice president, marketing and product development at developer Cambridge Homes. “It gives us a nice balance,” he said. “It’s big enough to have the amenities customers want.”
Cambridge has three other active adult projects with sales under way. The largest, Carillon Lakes in Crest Hill, has about 1,100 homes. Only a few homes there remain unsold, Smith said.
Carillon Club will have an 18,000-square-foot community center with indoor and outdoor pools, plus exercise facilities, bocce ball court, walking paths and a three-hole golf course. A separate pool, along with a playground, will be available for visiting grandchildren.
Monthly fees start at about $150, Smith said. (Assessments vary by house size.) The fees not only pay for the clubhouse and pools, but also for landscaping and snow removal. “We want to keep association fees reasonable,” he said.
Homes at Carillon Club will start construction in August. The clubhouse probably will be finished by spring 2007.
Cambridge is planning other active adult, said Smith.
Del Webb, the active adult division owned by home builder Pulte Inc., plans to open sales in August at Grand Dominion in Mundelein. The project, on Ill. Highway 176 west of Ill. 60 and 83, will have 727 single-family homes. About 4,000 people attended six information sessions held in June, said Chris Naatz, vice president of sales and marketing at Pulte’s Elgin office. He attributes the big turnout to the project’s location, close to North Shore suburbs where few active adult projects have been built. Another plus: the price. Home prices at Grand Dominion start at $260,000. “Who can buy a brand new home in Mundelein for that?” Naatz said.
Grand Dominion will have a clubhouse, tennis courts and bocce ball court. A focal point will be Lake Dominion, a natural lake on the property. Monthly homeowner assessments will start at about $160, Naatz said.
Del Webb plans another development in Yorkville at Galena Road and Ill. Highway 47. The West Haven project, which will have 900 to 1,000 homes, is in the approval process, but Naatz anticipates sales to start next spring.
Housing consultant Hovany thinks the big developers will circle the Chicago area with moderate-size projects. “The idea is to get these communities closer to where people are living now,” he said.
Also, look for more small developments without amenities. These projects, some with as few as 14 homes, are often near desirable amenities, such as stores, hospitals or nature preserves.
An example is Grand Reserve in Algonquin. The project has single-family homes, duplexes and quadplexes. Duplex homes start at $265,900.
Grand Reserve has no clubhouse, but the property includes protected wetlands. A walking path winds through the neighborhoods and wetlands. “We are not selling a lifestyle,” said Terry Phillips, sales manager at project developer Grand Pointe Homes in West Dundee. “We did not want to compete with Del Webb.”
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Jane Adler is a Chicago-area freelance writer. Write to her at realestate@tribune.com. Sorry, she cannot make personal replies.
