Par Development's Lorenz takes pride in every referral

For nearly 20 years, Par Development in Huntley has been a part of the land development and construction scene in the Chicago area, ranking among the top 50 Chicago home builders in most listings.

Founded in 1989 by Ray Plote, Par Development first made a name for itself with Boulder Ridge in Lake in the Hills, a 27-hole golf course and gargantuan residential development where construction continues today.

The other achievement for which the company is best known is the White Deer Run Golf Course in Vernon Hills, a top-notch course it continues to manage.

Par Development is a multifaceted company that focuses on residential, commercial and industrial construction and development, as well as golf course construction and land sales.

For the past 11 years, Charles Lorenz has been an integral part of the equation at Par.

Lorenz came to Par as a vice president in early 1997 from Merchandise Mart Properties, where he had enjoyed a 25-year career. A longtime friendship with Ray Plote precipitated the move, Lorenz says.

Two years ago he became the development firm's president, overseeing administration, sales and construction for the residential arm of the business. Land development and acquisition are handled by a separate division, as are commercial and industrial construction.

Today Par Development has 11 active multifamily and single-family communities underway in Algonquin, Cary, East Dundee, Elgin, Gilberts, Huntley, Lake in the Hills and Woodstock, as well as in Fontana, Wis.

Lorenz's dream house: A ranch house with good resale value somewhere in the Chicago area.

Favorite new home amenity: Home theaters.

Background: The Chicago area native graduated from Loyola Academy in Wilmette and then went to DePaul University to study business. The 56-year-old builder started work for Merchandise Mart Properties straight out of college.

His philosophy: The corporate mission statement is that Par Development is "committed to creating functional, sustainable and most importantly, aesthetically pleasing developments for communities." But for Lorenz, the bottom line is "keeping our customers happy."

Best part of the business: "It is always inspiring to get compliments back from buyers and to get referrals from them, so that is what keeps me going, especially during slow times like right now," Lorenz says.

"Sales have really been down," he continues. "I was hoping that the spring market would bring us a boost but that didn't happen. So now we are hoping for next spring."

Details: Par Development sells single-family homes, townhouses, lofts, villas and duplexes ranging from $259,000 to $900,000. It now has 31 spec homes available for immediate move-in at its various communities, Lorenz says.

In an average year the company builds between 150 and 200 homes and multifamily units. However, this year because of the slow economy, Lorenz only expects to build 50. In fact, he has reduced the 30-member staff to 10.

Townhouses are available at The Cove III in Algonquin, River Haven in East Dundee, River Park Place in Elgin and West Lake in Cary. Single-family homes are being constructed at Fairway View Estates in Algonquin and at River Haven in East Dundee.

Duplexes are the Par product at Bull Valley Greens in Woodstock, the Lakes of Boulder Ridge in Lake in the Hills and The Villas of Gilberts Town Center in Gilberts.

In Woodstock Par is also transforming the old Emerson Typewriter factory into the Emerson Lofts and it is building villas at The Cliffs of Fontana in Fontana, Wis., near Lake Geneva.

Over the past 19 years Par Development has earned a reputation for excellence in the marketplace. It has won numerous accolades including several "Key Awards" for excellence in design and construction from the Home Builders Association of Greater Chicago.

Biggest changes seen in the business: "Getting approvals through municipalities in recent years has been a tough road. They all want this and that and it raises our pricing beyond our control."

Buyer profile: Most Par Development home buyers are move-up buyers because their products are not designed for first-time buyers, Lorenz says. And while most of their buyers come from the Chicago area, they also attract transferees.

Future plans: "We will continue to do the same sorts of projects in the future. But we are working on becoming even more cost efficient and encouraging the buyers to start buying again."