What the press is saying about Newport-Cove.

C'mon in, the water's fine.
From the city to suburbs, homes by the water are making waves

Chicago Tribune (May 16, 2008)
Special Waterfton Home Issue

Given a choice, most people would prefer to live next to water. And who could blame them? The gentle breezes wafting off a placid blue lake, the beauty of a sunset over the sea, the rhythm of waves crashing against a beach — all are sensory experiences that reinvigorate our souls and impart serene feelings.

Living next to water also brings recreation. Whether it means canoeing, water skiing, sailing, fishing or just watching the river roll by, waterfront living is rarely boring.

The pleasures of living along a waterway are what brought Mario Maselli and his wife, Marisa, to Newport Cove, on Bluff Lake in the Chain O' Lakes, near Antioch. The Masellis moved into a three-bedroom, three-bath cottage overlooking the lake last month Based on his first few weeks in his new home, Mario Maselli feels the experience is like living a year-round vacation.

"It's very peaceful, and I love boats," he said. "From our home, you get to see the lake, get to see the boats, but you don't really hear them. And this lake is one of the best fishing lakes on the Chain. It's like your own resort. Instead of having to go somewhere and get a hotel room, I can get it all right here where I live."

The magic of water as a residential amenity isn't lost on developers of new-home communities, who have long recognized waterfront homes appeal to greater throngs than Oak Street Beach on a sizzling July afternoon. "As developers, we're looking for projects that have something special about them," said Alan D. Lev, president of Chicago's Belgravia Group and the Home Builders Association of Chicago.

"Any time you're on the lake, river or other water, it's a way of differentiating yourself. In the city, you don't have to be on the lake. But views are so important. Buyers are savvy enough to know even if they move into buildings with unobstructed views, the views may be obstructed someday. But if you're buying on a lake or river, there's never going to be a building obstructing that view."

Asked if developers are looking for more opportunities to build waterfront homes, housing consultant Steve Hovany of Schaumburg's Strategy Planning Associates, didn't hesitate. "They certainly are," he said. "The only downside is the good lord is not making any more waterfront property. Water is by far the best amenity."

How good an amenity? Hovany estimates if a home site were worth $150,000 in a typical setting, most buyers would be willing to pay twice that if it were on water. And what few negatives are linked with waterfront living — from strangers tromping through the property to the threat of flooding — seldom seem to deter home buyers. If a portfolio of some of the best waterfront new home communities in and around Chicago were to be assembled, it just might look something like this.

A northerly course
Our tour of the waterfront begins way out in unincorporated Lake County at the Masellis' new home, Newport Cove. The planned community sits along Bluff Lake, one of the smallest yet deepest lakes in the watery wonderland known as Chain O' Lakes. According to Susanne Tauke, president of New American Homes in Hawthorn Woods, the 42-acre community offers three neighborhoods — The Cottages, The Estates and The Waterfront — and will eventually include 67 homes.

Homes feature coastal-style architecture that is relatively rare in the Midwest, Tauke said. In its early phases, seven Newport Cove homes are occupied and six more being built. Prices of the homes in The Cottages start at $365,000. Lots in The Estates begin at $120,000 and lots in The Waterfront range from $375,000 on upward.

Homes stand on a bluff above the lake and marina. Crisscrossing the community are walking and golf cart paths, the latter making the trip home from the lake easier.

"Most of our buyers are empty nesters, and what almost all of them say is they're moving here so their children and grandchildren will visit," Tauke said. "It's the boating. Everyone here is a boater, and some are buying or leasing one, two or even three slips in our marina. There's everything from water skiers to fisherpeople, and some who just like to cruise around in their pontoon boats. It's great for those who like water."

A little south in Mundelein, construction of Diamond Cove Luxury Condominiums is about to begin on the northern shore of 150-acre Diamond Lake, a private lake known for water sports.

Developed by Redwood Builders, units on the west side overlook the lake, while those on the east side also offer lake views. The 2,142-square-foot units, available in four floor plans, are priced from $289,900 to $499,900, with the most expensive being a top-floor unit right next to the lake.

"A lot of the people buying here are from the Mundelein and surrounding areas," said Sophia Klopas, a broker with Chicago's Koenig & Strey GMAC Real Estate. "They're empty nesters who may not be able to afford a single-family home on the lake, but this allows them to live on the lake. . . . This lake doesn't have public access for boats. You must own a home on the lake to have a slip and boat, so it's very exclusive."

A bit northwest of Mundelein is another new-home community offering lots of opportunity to enjoy the waterfront. At Legend Lakes in McHenry, 64 acres of lakes and preserved natural areas are among the natural amenities attracting buyers.

The development consists of three distinct neighborhoods. The Preserves and the Homesteads offer about a dozen single-family floor plans ranging from 1,806 to 3,488 square feet and base priced from $249,990 to $330,990. The Country Townes neighborhood features seven town-home floor plans from 1,156 to 1,987 square feet. The town homes are base priced from $160,490 to $195,490.

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