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Thursday, May 25, 2006

FOR IMMEDIATE RELEASE:

First Phase of Homes Sells Out at Cherry Valley Club Near Rockford

Chicago-based Terrapin Properties has announced that Cherry Valley Club, a gated community of 256 maintenance-free condominiums in Cherry Valley, Ill., recently sold out of all homes in the development’s first phase.

The community, just east of Rockford, Ill., features four floor plans with one and two bedrooms, one to two baths and attached, one- to two-car garages with storage areas. Condominiums range in size from 881 to 1,297 square feet and are base-priced from $115,990 to $150,990.

“Demand among area residents for first-rate, amenity-rich co ndominiums has been high,” said Michael Ezgur, managing member of Terrapin Properties. “From Baby Boomers to young professionals, buyers of all sorts have been drawn to Cherry Valley Club’s well-appointed homes, the community’s natural setting and the affordable cost of living,” he added.

There are four floor plans to choose from at Cherry Valley Club: a one-bedroom/one-bath layout, and three two-bedroom/two-bath layouts. Buyers can also select from either a first- or second-floor location.

Homes on the first floor provide direct entry to either a one- or two-car garage with storage area. They also have patios, ideal for outdoor grilling, noted Ezgur. Additionally, buyers of a one-bedroom home can select to screen in their patio. All two-bedroom, first-floor plans are offered as end units, allowing natural light to filter into each home from three directions.

The second-floor two-bedroom plans include a large deck with access from the combination living/dining room. Owners of an interior unit on the second floor can also opt to enclose their decks.

“The deck is a great place to have dinner with friends. It’s also terrific for enjoying the community’s beautiful surroundings and its well-manicured landscaping,” said Ezgur.

One of most popular two-bedroom plans is Plan D, also called the Fall plan. Featuring 1,297 square feet, the home is base-priced from $139,990. According to Ezgur, buyers have been particularly fond of the eat-in kitchen with a breakfast bar and an adjacent breakfast area. It also includes a storage pantry.

“The breakfast area provides couples with a spot to enjoy meals together in a setting less formal than the dining area. Plus, the breakfast bar peninsula can double as both a space to have a snack and as a preparation area for cooking,” Ezgur noted.

Like all homes at Cherry Valley Club, Plan D also features 9-foot ceilings, a fireplace with a ceramic tile hearth and track lighting in the kitchen with three directional fixtures. The model also displays a host of upgraded features.

While standard features include 1½-inch decorator countertops with backsplash, and 30-inch oak cabinetry, Plan D includes stainless steel appliances, granite countertops and 42-inch maple cabinetry. And like all of the two-bedroom plans, Plan D includes volume ceilings in the living room as well.

Buyers looking for a contemporary one-bedroom home have found the 881-square-foot Plan A, or Spring plan, appealing. Base-priced from $115,990, the Spring layout is open, with a spacious atrium and a kitchen with sight lines to the living/dining room. There is also a coat closet to the left of the entrance.

“While the living/dining room area is nearly 24-by-14 square feet, the space feels even bigger with the adjoining kitchen. And with a hall closet, a walk-in closet in the master bedroom and storage space in the garage, there’s plenty of room for owners to keep items out of sight and out of the way,” Ezgur added.

Built on 29 acres of land, Cherry Valley Club features an exercise path that winds throughout the community. Residents can use the path for jogging, bicycling or walking their dogs. Cherry Valley Club also incorporates a central recreation complex with a clubhouse, outdoor swimming pool and hot tub. The clubhouse has an exercise area as well as game and party rooms, and meeting rooms for business functions. There is also a club room with TV and fireplace.

“These types of distinctive lifestyle amenities help residents stay fit and allow them to socialize with their neighbors at the same time,” said Jake Geleerd, managing member of Terrapin Properties.

Cherry Valley Club’s proximity to Interstate 90 has been a selling point for those who work in the booming I-90 corridor. And the nearby amenities of Rockford have drawn attention from those looking for cultural and recreational outlets as well.

“Some of our most popular venues are the Mendelssohn Performing Arts Center, the New American Theater, the Rockford Metro Centre and beautifully renovated Coronado Theater. These venues hold everything from performances by the Rockford Dance Company to concerts by the Rockford Symphony Orchestra,” said Beverly North, Cherry Valley Club sales manager. “Other popular spots include the Burpee Museum of Natural History, the CherryVale Mall, and Magic Waters, Illinois’ largest water park. Plus, golf enthusiasts can enjoy a number of local public courses, which have garnered critical acclaim,” she added.

According to Golf Digest, Rockford ranked first nationally among mid-sized U.S. cities for its high-quality, affordable public golf courses three years running.

To visit the sales center from I-90, take the first Rockford exit toward I-39. Exit to Harrison Avenue and turn right at the first stop light (toward CherryVale Mall). Drive one block and turn right on Bell School Road. Continue to the stoplight at Newburg Road and turn right. The Cherry Valley Club (on Magnolia Trail) is on the right. Sales hours are from 11 a.m. to 5 p.m. daily. For more information, call the sales center at (815) 332-8500 or visit www.thecherryvalleyclub.com.

Terrapin Properties is an active owner and developer of residential and commercial real estate focusing on mixed-use developments including multifamily high-rise, mid-rise, townhome and semi-custom homes. In addition to developing properties with integrated high-quality retail space, Terrapin Properties specializes in site selection, market analysis, zoning and entitlements, architectural planning, financing, construction, and sales and marketing.

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Editors: Prices are subject to change. To confirm current pricing information or

schedule an interview, call Taylor Johnson Associates at (312) 245-0202.