Naperville Housing Market Heats Up – Real Estate

Categories: In the News, Naperville

City leads area with new starts, home closings

June 11, 2013|By Kristy Kennedy, Special to the Tribune 342
This custom home is being built by Overstreet Builders on Naperville's southwest side in the Ashwood Park subdivision.
This custom home is being built by Overstreet Builders on Naperville’s southwest side in the Ashwood Park subdivision. (Kristy Kennedy, Special to the Tribune)

Naperville ranked first in the number of new homes under construction and also in new home closings in the Chicago area during the past four quarters, according to a market research and consulting firm.

Metrostudy, which analyzes new construction in a 12-county area around Chicago that includes Northwest Indiana and southeast Wisconsin, reports Naperville had 222 new home starts in the past 12 months. Pingree Grove, west of Elgin, was second with 215, while Elgin was third with 208. The new construction includes single family and multi-family homes..

“Naperville is still a premiere address in the Chicagoland market,” said Chris Huecksteadt, director of Metrostudy. “If developers are getting houses to market in a community like Naperville, then chances for success are pretty good. That’s not the case in many areas around Chicago.”

While those numbers are nowhere near the 35,000 new homes started in the area in 2005 and 2006, they indicate a bit of a rebound in new housing construction since the market took a hard nose dive in 2008, Huecksteadt said. His market area has seen about 4,000 new housing starts over the past year, up from a low of about 2,500 in 2008.

“We’re well below the historical high, but things are improving slightly,” Huecksteadt said. He views a normal market as having about 18,000 to 20,000 new homes being built in a year.

The number of new construction permits, 214, issued in Naperville in the past fiscal year ending April 30 was nearly double that of the previous year, said John Rutkowski, development services team leader for the city.

“We’re moving in the right direction. It’s good for the city,” he said, adding with undeveloped land in Naperville dwindling, new construction numbers should level off.

About 30 to 40 of last year’s permits were for tear downs, most in Naperville’s downtown, while most of the single-family homes are being built on the city’s southwest side or in pockets of undeveloped land in city neighborhoods. A townhome development near 75th Street and Route 59 also accounted for much of the new construction.

The median transaction value of new Naperville homes sold for most of the months in 2012 was about $350,000, Huecksteadt said, adding that shows the strength of multi-family home sales.

Near 75th Street and Route 59, the townhome Mayfair development by M/I Homes of Chicago is 90 percent sold out, said Cheryl Bonk, vice president of sales and marketing for the company. M/I Homes entered the Chicago market about five years ago.

“We stuck to the old adage of location, location, location. And price,” Bonk said. “Even in a challenging market there is success to be had. The townhome market has a little more resiliency.” The price of Mayfair townhomes range from about $216,000 to about $327,000.

Meanwhile, Pete Stefani of King’s Court Builders said he is heartened by the uptick in business this year. The custom home builder has six homes underway from $550,000 to $1.2 million in Naperville along with other homes in nearby communities. He closed on 26 homes in the past year, down from a high of 73 in 2005, but up from a low of 15 in 2011.

“Certainly, there has been a lot of blood let over the last number of years,” Stefani said of the number of builders and developers who have had to lay off employees or go out of business. Today, he feels there is more demand than inventory in towns like Naperville.

“In comparison to recent years, I’d have to call the market hot,” Stefani said.

The john greene Realtor team continues to grow

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Broker John Wesolowski joins john greene Realtor

March 19, 2013 11:44AM

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Updated: March 19, 2013 11:44AM

John Wesolowski recently joined the john greene real estate office as a broker. He will work with buyers and sellers. Wesolowski, a 20-year real estate sales veteran, was previously associated with Coldwell Banker.

“We’re very excited to be adding yet another sales professional of John’s caliber to our office,” said Reid Pederson, managing broker of john greene Realtor, in a press release. “He is extremely customer-service oriented and shares our commitment to professionalism and client services. His track record of accomplishment is commendable, and we are really excited to have him join our hard-working team.”

Naperville Market Picking up Speed in Volume and Price

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Attached you will find an article recently posted in the Naperville Sun.  Our very own Senior Vice President, John Doenges, was interviewed for his insight on the market.  Signs are definitely pointing in the right direction.


Naperville’s housing market picking up speed in volume and price

By David Sharos For The Sun October 22, 2012 3:26PM

Naperville-area Realtors are saying houses are selling faster and in greater volume, reflecting promising numbers recently reported by the National Association of Realtors. They also say homebuyers are counting on buying at the bottom of the housing market.

“Buyers believe that the bottom has been reached, and there is nowhere to go from here but up,” Naperville Re/Max broker Jeff Stainer said.

Last week, the National Association of Realtors reported that September homes sales in Chicago rose more than 23 percent from the previous year and 24 percent in the nine-county Chicago area. Those numbers buck the national trend; sales fell 1.7 percent in September throughout the country.

Naperville’s numbers make the area one of the hottest in the nation.

“I think other areas of the country like Las Vegas, Arizona, Florida and parts of California were hit with the recession earlier, while Chicago lagged behind a few years before things crashed here,” said Teresa Ryan, of Naperville’s Ryan Hill Realty. “Their recovery started before ours, and a lot of their inventory has now been absorbed so sales are down. But there’s no question the market here is absolutely reflecting a surge.”

Statistics Ryan offered from the latest Multiple Listing Service report back up her analysis. According to the MLS, September sales in DuPage County were up 11.9 percent last month as compared to a year ago, while those in Naperville jumped 25.7 percent.

Prices in DuPage fell 5.5 percent last month, which Stainer said has sent more buyers scurrying to find homes “because they believe prices have finally bottomed out.”

“We also have fewer bank owner short sales now in this area, as well as less inventory,” he said. “Homes that were available during the spring market have pretty much sold through.”

Ryan said the Naperville market’s attractiveness continues to grow, as the MLS indicates. In addition to sales more than double those of DuPage County, prices actually increased here 1.5 percent in September. And on top of that, homes are selling more quickly.

“The number of days homes were on the market fell 21 percent in DuPage and nearly 30 percent here in Naperville,” Ryan said. “This is a great stat that shows the market and the economy here is recovering.”

Stainer said that, in the past week, he sold five homes, including two in Naperville to foreign buyers who purchased properties without even physically seeing them. “These were people who were being transferred here to this country and knew that Naperville was a desirable area to be,” he said.

John Doenges, a senior vice president with Naperville’s John Greene Realtor, said September sales a year ago were up for the company and have surpassed them again a year later.

“We were actually up 22 percent last year from September 2010, and with interest rates about as low as they’re going to go, people are seeing the light and feel that now is the time to buy,” Doenges said. “Having local businesses like Navistar in the area has helped, and I think profits for companies are going up, so there’s no excuse not to diversify and move people around again.”

Doenges also said the rental market is pricing itself out of the picture and that “renting a three- or four-bedroom home in Naperville for as much as $2,500 a month no longer makes sense.”

“I can show someone a nice $300,000 home here and have a monthly payment that is far less than $2,500 for someone that can put 3.5 percent down,” he said. “The housing market is typically slower heading into Christmas, but there are people who realize with the current prices and interest rates, they can buy up in their own neighborhood.”

Jim Freier, another broker with Re/Max in Naperville, agrees that the rental market is changing and that another surge in local sales is coming from a shift from individual home buyers to investors. “Investors are picking up these properties here in DuPage and Naperville, and I’ve personally seen a shift where my clients now are 80 percent investors and 20 percent individual buyers,” he said.

The Chicago Sun-Times contributed to this report.

jg Agents get some Well Deserved Praise

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Sure, you hear it everyday.  Customer service is the key to success.  But how many times have you noted that the service you are receiving is mediocre at best?  Personally, I had two instances yesterday that made me wonder how some companies stay in business.  Needless to say, when you do receive praise for your efforts, it goes a long long way.  I wanted to take this time to highlight a couple of recent instances where john greene Realtor agents received some unsolicited feedback from clients.  I also want to congratulate Ann deVane and Jan Lechowicz for showing why john greene Realtor has been voted the “Best Realty Company” by Naperville Magazine for a third straight time.  Thank you both for your commitment to both your clients and to our company.  Here are the unedited notes direct from a couple of satisfied clients:

Client #1

“We went Greene with Ann deVane, the BEST Realtor ever!!!”










Client #2

“These are my kind words about Jan Lechowicz:”

“Through the process of finding and closing on our home, Jan became a part of our family. For Jan, it is not about filling an empty house or just finding a roof to cover one’s head, but rather it is about matching a family with a home that will bring to life the unique beauty of each in a complimentary union. By extending herself and taking extra time to get acquainted with us, she was not only able to show us the homes that would best fit our needs, but also our style. The three days that we spent with her looking for homes were naturally tiring (25 homes in 36 hours! sheesh!) But Jan went above and beyond the call of duty to add comforts along the way that created an element of fun and adventure. Her attention to detail and compassion towards us was a constant throughout: from the moment we began looking at pictures of homes online, to the day our movers came to unload our belongings. She was, and still is, there for and with us.”

jg Volume IV Newsletter – Real Estate News

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Click Here to check out our most recent newsletter.


jg Newsletter Volume III

Categories: In the News, Live and Love Local, Naperville, Oswego
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The jg Newsletter Volume 1

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Categories: In the News, Live and Love Local, Naperville, Oswego
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Many companies have newsletters.  Actually, many people have newsletters.  We at john greene are trying to take a different approach.  We have launched a website,, which collects Residential, Commercial and Land Real Estate news both locally and nationally.  The goal was to provide a place where you could see just about everything happening in the world of real estate at the tip of your fingers.  Well, many people told us that often they visited the site, but had a hard time reading every single article out there.  After a few of these requests came in, we finally took note.

We have created the jg Newsletter as a direct result.  Our newsletter sets out to be different.  So, we are taking articles from our intel site selected by our agents across all three segments, and inserting them into an easy to read format that hopefully you will enjoy.  Our plans are to send out the newsletter monthly, so let us know what you think.  And, if you would like to receive it, please shoot an email to and we’ll be happy to add you.

Click Here to see the 1st edition of the newly released jg Newsletter.

2012 john greene Realtor President’s Club Awards

Categories: In the News, Live and Love Local, Uncategorized

March 6th, 2012

President Club Awards

Carrying on a decades-long tradition, earlier this month john greene Realtor presented its annual President’s Club Awards.  The john greene Realtor President’s Club recognizes milestones in terms of agent lifetime sales achievement. Attaining each level, no matter where an agent falls on the ladder, is a celebrated accomplishment.

In true Hollywood style, we laid out the “greene” carpet. Local paparazzo and jgR agent, Sally Schertz put her expert photography skills to use snapping photos of each recipient. Tim Greene announced inductees as Reid Pederson handed out the awards. Agents proudly accepted as they moved into the “greene room” for their photo-op.

Making headlines were The Lang Team, Team Duffy and The Piket Team – all breaking barriers exceeding $200 million in career real estate sales. Dave Swanson single-handedly crossed the $100 million mark, while Lori Gaul reached the stars at $150 million. The remaining 18 recipients celebrated achievements from $5 million to $75 million in sales.

We would like to take a moment to congratulate all of our President’s Club members…past and present.  You are such a large part of the success of john greene Realtor and we thank you.  This is yet another reason why we…live & love local.


Feed My Starving Children – john greene Realtor agents and staff give back

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Earlier this month, members of the jgR team spent some time giving back. On a Tuesday afternoon, they employed the spirit of teamwork, physical labor and a few hair nets at Feed My Starving Children. The mission of Feed My Starving Children is “Feeding God’s starving children hungry in body and spirit”. Their vision is a simple, yet challenging one – to eliminate starvation in children throughout the world…

Keri Petsche, one of jgR’s newest team members coordinated this effort. Keri led the charge and others followed with their time and energy. While volunteering at FMSC for a few hours, groups of people work together to assemble and then pack dried food ingredients which are shipped to third world countries. When assembly time is up, FMSC leaders tally up the finished product. Our jgR group is very pleased to say that their efforts will provide rice and vegetables to over 20,000 Haitian children.

I’m fortunate to work for a firm that values what a sense of community and benevolence can provide not only to the world around them, but to the members of its team that spend almost every day together. The opportunity to take a few hours out of the workday and help others in need is rare. The great ballplayer and humanitarian Jackie Robinson said, “A life is not important, except for the impact it has on other lives”.

We are always looking for new ideas, so let us know if there are other things your company is doing to impact other lives? And okay, if hair nets are involved – we’re in!

For more information about Feed My Starving Children, visit their website at .

john greene Realtor Voted Naperville’s “Best Realty” Company Again

Categories: In the News, Live and Love Local, Naperville
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Naperville, Illinois – Naperville has spoken and for the second year in a row, john greene Realtor has been named Naperville Magazine’s “Best Realty” Company. The official announcement and award ceremony took place on Thursday, July 28, 2011 at the Third Annual ”Best of Naperville” Awards Dinner held at the Arista Hotel.

Company executive vice president, Tim Greene accepted the award along with his sister, Shannon Greene Robb, who serves as community relations director.

“We are so honored to be recognized in this way again,” Tim says. “Naperville is such an incredible place to live. It’s where we call home and we love being a part of this community.”

john greene Realtor has played a prominent role in Naperville’s development from a farm town when the business first started to the vibrant city it has become. That progression is a source of pride for company founder, John Greene.

“We’ve been a part of Naperville for thirty-five years,” he says. “To find out that our community loves what we do as much as we love doing it is wonderful.”

While the award was given to Tim, John and Shannon, they pointed out that their success would not be possible without the hard work and dedication of their outstanding agents and amazing staff.

The “Best Realty Company” Award winner was determined by public online polling, where users voted for their favorite realty company over a six month period. Winners in all categories are featured in Naperville Magazine’s August “Best of” issue.