New projects in the works at Shodeen
The Shodeen name has been almost synonymous with Geneva for decades.
Kent Shodeen founded his real estate development firm in 1961 and his son, Craig, joined the business during the mid 1980s.
Today the father-son team is well-known in the real estate development world. They hold a diversified portfolio of office, retail and hotel assets, and also have a residential construction division that has built thousands of homes, including Geneva's 2,400-home Mill Creek neighborhood, which also includes golf courses, lakes, parks, hiking/biking trails and schools. Begun in 1995, it is expected to be built out by the end of this year.
"It will seem strange to not be going out there two or three times a week like I have been for the past 20 years," Craig, president of Sho-Deen Residential, admitted.
But Shodeen is now embarking on new projects both within Geneva and beyond.
For instance, it has completed the zoning for the first phase (112 single-family homes) at Elburn Station in Elburn. Some of the lots are located within walking distance of the new Metra station in that community - hence, the name. Homes will range in price from $250,000 to $350,000 and are aimed at first-time buyers and move-up buyers from the local community, as well as those who plan to commute via the train. The community will feature parks, open space, lakes and bike trails.
Shodeen is continuing to sell single-family homes in the $220,000 to $320,000 price range at Reston Pond in Sycamore and selling townhouses in the $370,000 to $415,000 range at Seventh Street Terrace in downtown Geneva. Across the state line in Wisconsin, it building townhouses in Fontana-on-Geneva Lake. A model is expected to open in early spring across the street from the Abbey Resort. The townhouses will range in price from $375,000 to $425,000.
The builder has also received zoning approval on property in Elgin, DeKalb, and Delavan and Walworth, Wisconsin.
"I expect we will close on about 70 homes during 2016 and I am pleased with that. The residential construction business is definitely climbing back up, but we will probably never again see years when we close over 200 homes a year like we did before the recession. But we could be back up to 100 homes a year. I can see that happening," Craig Shodeen said.
"There are lots of opportunities out there for us and we are preparing ourselves to go anywhere. It just depends on which regions develop the fastest. So we are banking land in up-and-coming areas and getting our zoning. Then we will just see where it all goes," he said.
Background: Craig joined the family firm in 1985, working his way up and learning the business. But when the economy started to falter in 2007, Craig began to think smaller. He took a hiatus from the family firm and established his own custom homebuilding company, which he named Sjodin Custom Homes LLC, reverting back to the Swedish spelling of his family name.
"Between 1998 and 2008, I had overseen the sales and construction of over 2,000 homes. When we noticed our volume slowing down, however, we had begun to focus more on designing flex home plans and making semi-custom changes to our plans, and I found I enjoyed that part of the business," Shodeen said.
So he took the opportunity the housing slowdown gave him to establish a custom homebuilding firm of his own, working with families to design and build custom homes to suit their particular needs. Between 2008 and 2011, Sjodin Custom Homes built about 25 homes at an average selling price of $650,000.
In 2012, Sjodin Custom Homes was merged into the Shodeen Inc. family of companies, becoming its custom-home component and Craig returned to serve as president of Shodeen Residential.
His responsibilities: As president of Shodeen Residential, Craig is responsible for overseeing the construction, sales and estimating portions of the residential construction arm of his family's business. In addition, he works with all custom home customers, helping them design the home of their dreams and making sure it is delivered. Kent Shodeen continues to handle land acquisition and financing for Shodeen Residential, as well as overseeing the office, retail and hotel holdings and projects of Shodeen Inc.
His philosophy: "I like to give everyone a nice product at a reasonable price. I also believe in treating everyone fairly throughout both the construction and the customer service phases.
"That is also why we take complaints personally. We really get involved in every situation that arises so that we correct the problem and make sure that it doesn't ever happen again. That is why our customer service rating has risen so much over the last 15 years."
His favorite part of the business: "I enjoy seeing homes going from a design on paper to a home being built from the ground up. My mind works very visually, so I love driving around our communities and watching all of the pieces come together."
What are the challenges, or perks, of being in a family business?
"There are challenges in everything but we have a lot of fun working together, living near each other and even vacationing together. When we were growing up there was never any expectation that we would go into the family business. It was everyone's choice. We were told we were welcome to come into the business if we were willing to put forth the necessary effort, so I started by mowing the lawns of the models, then worked as an apprentice carpenter and eventually got into sales. Today we have six family members spread over three generations working in the business."
What are the biggest industry changes you've experienced?
"When I started, our customer service orders were handwritten on those pink phone message notes and stuck on a spindle. Today we have comprehensive procedures. And back in 1986-88 when I was working in sales and sketching out homes for customers, we were introducing vaulted foyers and family rooms and everyone wanted them. Now they are going away because people want more energy efficiency. Instead, they want open floor plans with kitchens that open to other rooms, especially for large gatherings."
For more information about Shodeen Residential, visit shodeenhomes.com or call (630) 232-8181.