Kinzie Builders – The Oaks of Vernon Hills
Kinzie Builders [a part of Kinzie Real Estate Group] may be a new name in the Chicago-area real estate scene, but its leadership and staff are well versed in developing and building residential properties. The company, founded in 2011, taps into the knowledge and relationships fostered by founder and President Steve Spinell and other key staff members to successfully complete projects. Spinell brings more than 25 years of real estate development and consulting experience to his position.
The company employs a staff of experienced engineers and industry experts who help Kinzie guide projects in conjunction with other parties. “Our group is made up of forward-thinking project managers with a strong attention to detail; we are problem-solvers and because of that, we can deliver a great product and manage the process better than most,” Spinell says.
Collectively, Spinell and other company leaders have built more than $1 billion dollars of real estate development over the past 25 years.
“Because of our longstanding relationship with a number of subcontractors they have become an integral part of the design process,” he adds. “They work closely with the architects and engineers to efficiently design, plan, and execute on the product proposed, within budget parameters.”
Kinzie Builders also takes advantage of the supplier and vendor relationships established by Spinell and other group members.
The company believes in locking in material and supply costs toward the beginning of a project to keep costs consistent throughout construction, he adds.
One of Spinell’s longstanding professional relationships led Kinzie to its first major project. The owner of REVA Development Partners LLC, Warren James, a 25-year-plus professional associate of Spinell’s, retained the services of Kinzie Builders to build The Oaks of Vernon Hills, a luxury multifamily rental development in Vernon Hills, Ill.
The 29-acre site closed in July, and hopes to begin leasing in spring 2014 with occupancy beginning in early summer 2014. The Oaks of Vernon Hills is a $40 million, 304-unit development featuring apartments in eight three-story, 32-unit buildings and 54 townhome units. Kinzie Builders is currently developing the site and is in the final phases of curb, gutter and pavement installation, with the first buildings on the site anticipated to begin construction later this year.
Each building will be constructed out of wood frame Hardi plank and masonry on the exteriors. Each unit will include finishes such as vinyl flooring, wood cabinets and granite countertops and stainless steel appliances, Spinell says.
In addition to the residential units, The Oaks site will also include a clubhouse with common spaces, a pool, a theater room, workout facility and kitchenette. The community will also include walking trails and extensive green space.
The Oaks is one of the first large rental communities developed from the ground up in the region in the past 10 years. “This marketplace hasn’t seen many rental townhomes for younger, smaller families, which we think is a great niche,” Spinell says. “The for-sale market has really been in flux for several years now, so the project will serve the needs of the current housing market conditions.”
The development is expected to appeal to the renter by choice and attract a mix of young professionals as well as older residents. The Oaks’ location near two commuter train stations, Vernon Hills Towncenter and a mix of shopping, dining, recreation and entertainment options make it attractive to a range of potential renters, he adds.
A One-Stop Shop
Kinzie Real Estate Group’s expertise goes beyond general contracting and construction management with a full service real estate company that includes residential and commercial brokerage, asset management and disposition planning, property management and development services. The company has a track record in the strategic planning, management and workout of pre-foreclosure and bank-owned assets for clients including BMO Harris Bank, Wintrust Corp., Baytree Bank & Trust, Loan Management Solutions as well as private equity firms such as Capital Crossing, Rialto Capital, and Colony Capital, to name a few.
“Our team of experienced real estate professionals are each highly skilled in their respective specialties, allowing us to provide a one-stop-shop solution for our clients’ residential, commercial and undeveloped land assets, while maintaining the highest level of service and dependability,” the company says.
Kinzie Real Estate Group’s experience with working out distressed properties for various financial institutions led the company to its current project in Lake Barrington, Ill. Kinzie is handling the sales, marketing, construction management and property management duties for The Enclave of Heritage Estates, which is an exceptional and one-of-a-kind gated community on 66 rolling acres.
Kinzie Real Estate Group is offering semi-custom luxury homes priced from the upper $600,000s. Homes will range from 3,200-square-foot ranch homes to more than 4,800 square feet. The project is breaking ground in October. For more information on Enclave, visit www.enclaveliving.com.