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Residential Land

Ryland Homes

Flanagan Realty has assisted Ryland Homes in the acquisition of multiple properties to supports its Chicago homebuilding division. Flanagan Realty assisted in the acquisition of the 130 lot Hunters Ridge subdivision, which sold out in less than 3 years, including arranging the sale of a portion of the new homes to be constructed to a large single family rental operator. Flanagan has assisted Ryland in the acquisition of several of the best performing residential communities in the greater Chicago market including Lake Street Square, Brookmere of Matteson, Lakewood Crossing, Saratoga Springs, and Remington Pointe North.

Petry Development

Flanagan Realty represented Petry Development in the acquisition of multiple properties in the greater Chicago and Rockford markets. Flanagan Realty also assisted Petry in the management of the properties and in resolving various issues and challenges with the properties to help add value and improve their marketability. Our efforts and advice resulted in Petry more than doubling the value of its investments in less than 5 years.

SR Jacobson Development Co.

Flanagan Realty represented SR Jacobson Development Co. in the acquisition of multiple properties in the greater Chicago area including Walnut Glen, Prairie Woods, Shorewood Town Center, Frankfort Meadows, and Olde Stone Village. We alos provided extensive market research, valuation, and due diligence assistance for the acquisition of these properties. Flanagan’s assistance, expertise and market guidance allowed SRJ to acquire some of the best located and most desirable residential projects in the Chicago market and helped them achieve an exceptionally high internal rate of return on their investments. Flanagan continues to represent SR Jacobson in the disposition of properties and in the acquisition of sites for development of apartment communities.

Turnstone Group

Flanagan Realty was retained by Turnstone Group, an Atlanta-based investment fund, to assist in the disposition of multiple residential developments located in the greater Chicago area. Flanagan was assigned the exclusive listing for 13 residential developments. In less than 120 days Flanagan obtained builder commitments for over half of the projects. Many of these projects had previously been marketed unsuccessfully by another company.

Deer Pointe Subdivision – Blue Island

Flanagan Realty was retained by Bayview Loan Servicing as agent for First Midwest Bank (successor in interest to Palos Bank) as asset manager and broker for a partially completed development in Blue Island, Illinois. Services include management of 17 single family homes, including a number of homes that were rented. Other services included property management and maintenance, completion of construction of unfinished units, and disposition of the property.

Bella Strada – Lemont, Illinois

Flanagan Realty was retained by Bayview Loan Servicing as agent for BMO Harris Bank (successor in interest to Amcore Bank) as asset manager and broker for a partially completed townhome development in Lemont, Illinois. Services provided including property management and maintenance, oversight of the homeowners association, build out of two unfinished units, resolution of various building code violations, and disposition of the property.

Confidential Master Planned Community – Kendall County

Flanagan Realty was retained by the asset manager for this large 1,000 unit master planned residential community located in Kendall County, Illinois., At the request of the foreclosing lender, the asset manager retained Flanagan to assist in evaluating the status of the project, formulate a plan to preserve and enhance the value and desirability of the property, and to evaluate alternative disposition strategies. Flanagan developed a matrix of alternatives for marketing the property under a range of different scenarios designed to minimize holding costs and maximize value.

Land and Farms

Hondo Ranch – Maple Park, Illinois

Flanagan Realty was retained by a foreclosing lender to act as the post-receivership asset manager for this 343 acre thoroughbred farm located in Kane County, Illinois. Responsibilities included rent collection, oversight of property maintenance and management, tenant coordination and management, as well as disposition of the property. 

Former Amcore Bank Land Parcels

Flanagan Realty was retained by Bayview Loan Servicing as agent for BMO Harris Bank (successor in interest to Amcore Bank) as asset manager and broker for multiple land parcels in northern Illinois. There parcels included an 80 acre partially improved land parcel which had received several violation notices from the Village relating to storm water runoff and other incomplete work, a 54 acre parcel that was planned for development but required an easement in order to obtain sanitary and water service, as well as industrial buildings and improved single family lots and vacant land in various locations. Mr. Flanagan served as asset manager responsible for managing leases, rent collection, maintenance, homeowners association interaction, municipal interaction, property accounting, and interacting with local government agencies in the resolution various related issues, as well as disposition of the properties. Flanagan Realty managed and sold over 25 properties for Bayview over approximately 5 years with values well into the tens of millions.

Brokerage, Consulting & Advisory Services – TriPacific Capital

Flanagan Realty was retained by a West Coast pension fund manager that was holding land under a lot takedown agreement with a large regional homebuilder that subsequently filed bankruptcy. The property was heavily burdened with Special Service Area debt and other challenges, making a conventional sale difficult. Mr. Flanagan assisted the company in developing a strategy to exit its position in the land and recover the maximum possible value for the property in a timely manner.

Development Management

Site Selection / Development Management Services
Traffic Control & Protection

Flanagan Realty was retained by Traffic Control & Protection, a traffic control and safety contractor, to assist in the site selection and development of a new headquarters. TCP has outgrown their existing facility and due to their unique needs for a large outside storage yard were unable to identify an existing building to meet their requirements. Flanagan Realty was retained by TCP to assist in search for a suitable land parcel within certain geographic boundaries. Flanagan also assisted in the site due diligence, municipal approvals, site design, selection of engineers and architects, selection of a general contractor, and construction of the building. Flanagan’s efforts in the selection of a new site resulted in a savings of over $750,000 in site costs compared to competing alternatives. Flanagan Realty also worked diligently with the project architect and general contractor to value-engineer the building and site to achieve an additional cost reduction of over $1,500,000.

Property Disposition

Disposition of Broadview Academy Boarding School

Flanagan Realty was retained by the Seventh Day Adventist Church to assist in the disposition of the closed Broadview Academy Boarding School. The property consisted of over 20 buildings on approximately 141 acres land. The property presented many challenges, including the unique nature of the property, age and poor condition of many of the buildings, and semi-rural location. Flanagan Realty performed extensive research into potential purchasers and users and evaluated multiple alternative uses of the property. Based on the research results, Flanagan Realty implemented an aggressive national marketing campaign, resulting in the satisfactory sale of the property in approximately 18 months.

 

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