Chicago Tribune from Chicago, Illinois • 53

Chicago Tribune, Saturday, June 20, 1992 Section 4 3 Horn Guid Lake County show covers wide spectrum Mortgage pulse Chicago-area housing Rates are as of June 16, 1992, and may Rate Type Down change because of market volatility Years Pts.Tees Comments Banc Net (C), 830 E. Higgins, Schaumburg, 708-995-0321 8.5 Fixed 5 30 0275 8.125 Fixed 5 15 0275 7.625 Balloon 10 30 0275 wr in' ftfpi- jTf'niH -v t- mmsM mm A'fi'i 4 mini I -I- JK- Liberty Bank for Savings (D), 7111 W. 8 Fixed 10 8.25 Fixed 10 7.5 Balloon 10 First Mortgage Corp. Chicago (C), 3009 8.1 Z5 Fixed 5 7.625 Fixed 5 6.75 ARM 10 Brian Financial Services (B), Arlington 7.5 Fixed 10 7.875 Fixed 10 New Tradition Homes will show three factory-built homes like the one above in Wadsworth. Cotswold on the Lakes in Northbrook also will be represented in the show.

8 Fixed 10 30 3300 La Salle Bank Lakeview (A), 3201 N. Ashland, Chicago, 312-525-2180 8 25 Fixed 5 30 3300 60 day lock 7.75 Fixed 5 15 3300 7.5 Fixed 10 10 3300 Coriey Financial (B), 414 N. Orleans, 8.75 Fixed 10 5.5 ARM 10 6.75 Balloon 10 Countrywide Funding (B), 9532 W. 147th ltf more exacting standards in the factory than on site, where a carpenter just eyeballs the wall," he said. At Heritage Oaks, a traditional 26-lot subdivision a quarter-mile west of Main Street in Barrington, Michael J.

Graft Builders offers the foot Jefferson, which addresses the needs of multigenera-tional families whose members would like to live under the same roof without sacrificing privacy. This home, which is priced at $597,000, has two master suites. The main suite has a sitting room and a fireplace, and the second suite includes a separate kitchen, making it ideal for an elderly parent or adult child. Long Grove-based Landmark Homes has entered two distinctly different homes in the tour. The first, a five-bedroom mansion with a two-story pillared portico, has an antebellum ambiance that would make Scarlet O'Hara feel right at home.

However, the setting is not Tara but the seventh hole of the Greg Norman golf course at Royal Melbourne in Long Grove, a private country club community of 125 homesites near the intersection of Illinois Highway 22 and Illinois Highway 83. The house features a paneled library, a gourmet kitchen and a two-story family room, and priced at $924,000. The second Landmark home is the English Manor at Beacon Hill, a community of 92 semicustom homes in Kil-deer. This traditional home has four bedrooms, 2Vi baths, a library, two-story foyer and family room, gourmet kitchen and a master suite with cathedral ceiling, and is priced at $431,000. Tom Girmscheid, a former subcontractor to some of the top custom home builders in the country, will feature the five-bedroom, 4'j-bath Chardonnay at the Wineberry development in Libertyville.

This model, priced at $549,000, was purchased by Girmscheid for his family, but he will duplicate the same house on another lot. Orren Pickell, president of Vernon Hills-based Pickell Builders, a firm that has been building luxury homes in the north and northwest suburbs for 30 years, will show the Wineberry, a country French- and Federalist-inspired home that is priced at 8 5 Fixed 10 30 .25275 60 day lock 7.75 Balloon 10 30 0275 723 9 Jumbo 10 30 0275 Lumbermen's Investment (B), 2500 S. Highland, Lombard, 708-629-3333 8.125 Fixed 5 30 3300 60 day lock 7.25 Balloon 10 30 3300 723 575 ARM 10 30 1.625300 1 yr Lake Side Bank (A), 141 W. Jackson, Chicago, 312-567-0542 8.75 Fixed 10 30 .5100 60 day lock 8.375 Fixed 10 15 0100 9.375 Jumbo 10 30 1100 First Federal Savings BankProviso (A), Harrison St, Hillside, 708-449-3100 8.5 Fixed 20 30 1.75300 60 day lock 7.75 Fixed 20 15 3300 8.375 Fixed 20 15 0300 Fleet Mortgage Corp. (B), 2500 W.

Higgins, Hoffman Estates, 708-490-1110 5.25 ARM 10 30 2290 1 yrlumbo 7.25 Balloon 10 30 2.5290 723 8.25 Fixed 5 30 2.5290 60 day lock Priority Mortgage (A), 3601 W. Devon, Chicago, 312-583-1188 8.25 Fixed 10 30 1.75300 45 day lock 7.75 Fixed 10 15 1.75300 6.875 Balloon 10 30 1.75300 525 Home Family Mortage (B), 188 Industrial Elmhurat, 708-834-4160 8.625 Fixed 5 30 .125300 60 day lock 8.375 Fixed 5 30 .125300 8.75 Jumbo 10 30 1300 LaSalle-Talman Home Mortgage Corp. (D), Des Plaines, 708-296-0914 8.25 Fixed 5 30 3300 60 day lock 7.75 Fixed 5 15 3300 5.125 ARM 10 30 2.75300 Tyr Mortgage Unlimited (C), 6228 N. Broadway, Chicago, 312-274-3920 8.125 Fixed 5 30 2.375300 45 day lock 7.625 Fixed 5 15 2.5300 7 ARM 10 30 1.5300 5 yr First Nationwide Bank (A), 1520 Kensington, Oak Brook, 708-990-4100 6.75 ARM 10 30 0325 1 yr 7.75 Balloon 10 30 0325 525 8.25 Fixed 5 30 2.625325 60 day lock Prime Mortgage Assoc. (B), 464 Central, Northfield, 708-441-6888 7.5 Balloon 10 30 1.5295 723 8 Fixed 10 30 3295 60 day lock 8.5 Fixed 10 30 .5295 Glossary: Fixed fixed-rate mortgage; ARM adjustable-rate mortgage.

Mortgages are for both single-family homes and condominiums unless otherwise noted. A bank, mortgage banker, mortgage broker, savings and loan. Mortgage brokers and mortgage bankers are Illinois licensees. Mortgage brokers provide loans provided by another entity which may affect availability. Source: Mortgage Market information Services.

Defy uw Phone 976-4500 (75t max). pin $550,000 not including the lot Pickell also has the distinction of having the most expensive home in the Tour, a country French chateau in Lake Forest that is priced at $1.5 million. The Cotswolds on the Lakes, a 37-acre community of 58 luxury duplexes and 45 single-family homes in Northbrook, was inspired by the tranquil English region of the same name. The project was recently acquired by Spruce Development of Traverse City, after the original developer built only 14 homes before pulling out in the late 1980s. "The site plans were already approved by the Village of Northbrook when we came aboard and so our challenge was to redesign By Jean Guarino Df there's something for almost everyone in the third annual Lake County Tour of Homes, it shouldn't come as a big surprise.

After all, the show will feature 46 homes from 30 builders in 1 5 communities from Glenview to An-tioch. "It has become an extremely important and effective marketing tool that serves both the buyer and the builder," said Peter Bianchini, president of the Home Builders Association of Lake County, the sponsor of the show, which begins Saturday and runs through June 28. Admission to the show is free, and it will be open weekdays from 10 a.m. to 5 p.m. and weekends from 1 1 a.m.

to 6 p.m. For more information on the location of homes, call the Home Builders Association of Lake County at 708-816-HOME. The tour will run the gamut from infill townhomes to luxury homes in private country club communities, but homes that stand out because of their design are the models built by Libertyville-based New Tradition Homes at Mill Creek Woodlands in Wadsworth. These three homes, which have all been sold, are four-bedroom, 2'j-bath houses with volume ceilings and open two-story foyers, and prices that range from $390,000 to $480,000. But what sets them apart from tour homes is the fact that they are all "panel-ized," or built in sections or large panels in a factory, trucked to the site, hoisted in place by a crane and nailed in place.

Joe Stoffels, manager of New Tradition, emphasizes that these homes are not prefabs in which hundreds of homes are cut from the same mold. "Each of our homes is custom built. We can send the plan of any architect to the factory and they will build the interior and exterior walls to the exact specifications," he said. The price of a panelized home is comparable to a stick-built home because the low labor cost is offset by the expense of shipping and manufacturing. So what are the advantages of building a panelized house? "The wood never gets wet during construction and the walls have to be built stronger in order to be transported.

Also, they're built to homes, loaded from is a a 1 1 In miming 'alue 60 day lock 525 Foster, Chicago, 312-792-2211 15 1295 60 day lock 30 2.25295 30 2295 525 W. Irving, Chicago, 312-478-4343 30 2.375300 45 day lock 15 2.5300 30 2.5300 5 yr Heights, 708-956-9600 15 3300 15 1.5300 60 day lock Chicago, 312-329-6440 30 0295 30 2.25295 30 2.25295 60 day lock 1 ur 525 St, Orland Parti, 708-403-0495 Including lot. llI? 4 ,1 ImMi iiBlilMli feliiMSilj fwiililgirilsiE 1 iiwiMiMimiitiMffiTO ietriiiiiimiiiiirmriirarii-iiii: ninmrmnirTaniniiniii mill -rmiMini iiwiiriiiiiiiiiiMTrlii. i i i mr-mmr TniT null Tribune photo by John Handley each home with a more contemporary '90s look but within the existing development box," said Mark Hopkins, president of Otis Associates, architects for the project "Buyers who are down scaling in a luxury market know quality and want their homes to have a unique identity. So we changed the configuration of the multi-unit buildings from four townhomes to two attached duplexes with only one garage door and front door visible from any one angle," he added.

Single-family models include a ranch, a Cape Cod and a pair of two-story custom homes priced from $500,000 to $540,000 with a monthly maintenance fee of $285. The duplexes are priced between $375,000 and $435,000 and include two two-story and two Cape Cod designs. 'Z' 34) west through Naperville then west (right) to the term MILLRACE CREEK kwood '-'an! mm Cjmce 1 water oriented neighborhood with water falls and an old mill. Single family homes from ST packed single family $179,900 'ne of Naperville's most con 10 DISCOUNT ON FIRST 10 LOTS SOI. TIIIS WFFKEND.

venient single family home neighborhoods. Close to everything. Homes from $250,000 Including lot. $250,000 Including with top quality 4 2 lot. 1 ,1 lr West Wind i fiiti DIRECTIONS: E-W Tollway to Naper Blvd.

exit. South on Naper to 75th St. West on 75th St. to Napervillt-Plainfield Rd. South 2-12 milea to entrance.

DIRECTIONS: Ogden Ave. (Rt. to River Rd. South to Oswego entrance. DIRECTIONS: 1-88 west to Rt.

59 exit. South to Rt. 34, then west 6Vi miles to Mill-Race Creek. 4 phone- 708-357-3300.