“The Cloister” Brings Exclusivity to Homes in the Heart of Joliet

(December 8, 2003) - Bob Stephen, Developer of upscale residential properties in Illinois and Michigan, has brought his unique concept for secluded tranquility and serenity to the heart of Joliet with “The Cloister.” The exclusive residential development is located on a 30 acre, heavily wooded site on West Jefferson Street in Joliet, South of I-55. Currently in Phase 1 of Development, “The Cloister” is gated and composed of 42 relatively small, one third acre to one half acre lots which back up to heavily wooded areas. Each lot is priced between $150,000 and $200,000, with homes running between $650,000 and $1 million. With the first several homes nearing completion, Stephen has established an ongoing, strict set of architectural guidelines that include building materials, construction and landscaping to preserve and ensure the aesthetic integrity of “The Cloister’s” upscale ambience.

"I was enthralled with the luxury, privacy, and tradition of excellence I discovered during a trip to the original “Cloister,” a golfing resort on Sea Island, GA, and I was eager to bring back the same privacy, grace and tradition to Joliet, where I saw the potential for the upscale home market,” states Stephen.

Stephen, a high energy individual, outspoken businessman, and long time resident of Joliet, made his move to the world of real estate development beginning with the purchase of a Joliet retail center in 1972, and residential properties several years later. “It took me two long years at that time to engage with and convince Dominick’s that they needed to be a major anchor here with a Joliet location at the shopping center,” Stephen recalls. “That location went on to be the #1 top location in same store sales for six years running, a real top producer!”

Each home in “The Cloister” will be required to have all masonry exteriors; 1-story design with minimum 12/12 pitch, shake shingle roof, and all landscaping and maintenance provided by Stephen’s firm. The homes will have 2500 – 4000 square feet designs including 2 or 3 car garages. For site Planning, Engineering, and Landscape Architecture, Stephen needed a “total services” firm to integrate a successful development project, so he hired his friend and colleague’s firm of Ruettiger, Tonelli & Associates, Inc., a local Surveying, Engineering, Planning, and Landscape Architecture company, for the entire project. “Their Planning insight is phenomenal, and they anticipate the needs of the project at times even before I do,” Stephen observed. “We’ve worked together on many projects, and this time, Ruettiger, Tonelli & Associates, Inc. have literally planned and engineered the charm into “The Cloister!”

With the fast and furious pace of growth and development in Joliet and surrounding communities, and with Joliet currently one of the Top Ten cities in terms of national growth, Stephen anticipates the client market for “Cloister” homes to be professionals from Chicago and nearby suburbs, including doctors from expanding area hospitals, lawyers, attorneys, and local business professionals.

In addition to “The Cloister,” Stephen is the Developer of a dozen upscale homes along Lake Michigan. With Lake and beachfront ambiance, and located approximately eight miles north of St. Joe, MI, Stephen has targeted the market for Chicagoans or families from Central or Eastern Michigan areas desiring second homes. Currently selling between $1 - $1.5 million, final completion is expected by 2005.