Posts Tagged ‘Bill Alter’

Cornerstone Gets the Green Light

Thursday, April 2nd, 2009

Cornerstone’s launch fulfills William A. Alter’s 30-year vision that began when the legendary real estate titan acquired the first of what now comprises 650 acres in central Lake County.

As a mixed-use development pioneer, Bill Alter understood that differing residential products could- and would — flourish, complete with nearby stores.  Cornerstone is taking Bill’s vision a step farther by creating an environment where industrial, research-and-development and office and retail jobs will coexist within walking distance of housing, entertainment opportunities and shopping.  rtkl_cornerstone_eyelevl2sign1

Costing  an estimated $750 million,  Cornerstone is a significant project which will take early 12 years to complete.  It is expected to create hundreds of construction jobs.  At completion, we expect that Cornerstone will add more than 9,000 jobs within the project, as well as almost 7,000 supporting jobs throughout Lake County.  Currently, our development plans call for 3 million SF to 3.5 million SF of light industrial/office space, 500,000 SF to 600,000 SF of shops and restaurants and 800 homes, mostly townhouses, apartments and condominiums.  Located west of Illinois Highway 83, Cornerstone is expected to be annexed into the village of Grayslake.

The Grayslake community is embracing the concept of Cornerstone.  At public hearings and planning commission meetings with Village officials, we’ve received consistently positive feedback, with comments such as “Well-balanced land use plan.”, “This is what Grayslake needs – NOW.” and “We need more amenities locally.”

We still face some challenges as we move forward, but I have every confidence that Cornerstone will become the most sought-after destination in central Lake County.

Industry Mourns Passing of Bill Alter

Monday, August 18th, 2008

Bill Alter, founder of The Alter Group, passed away peacefully Friday, August 8, in his Winnetka, IL, home of complications from Alzheimer’s at age 78.  Named one of the most influential people of the 20th century by National Real Estate Investor magazine, Alter presided over the development of more than $1 billion of space over a half century.

Alter’s Realty Company of America began building homes for post-war, first-time buyers.  In 1959, Alter developed the first residential community for middle-income minority buyers, Kingston Green in Markham, IL.  With Olympian Jesse Owens as his national spokesman, Alter brought the dream of home ownership to hundreds of families.

Dubbed the “sky broker”, Alter was known throughout his native Chicago for using a twin-engine plane to scout land sites.  His son, Michael, who succeeded his father as president in 1995, said “his was a uniquely American story.”

Over the decades, The Alter Group developed millions of square feet of speculative office, industrial, research-and-development, and healthcare space in a variety of business parks.  A recipient of the Lifetime Achievement Award from the Urban Land Institute, Bill helped create the now widely copied concept of the professional planned industrial park.

Bill is survived by his wife, Evelyn.  He was the father of Michael, Harvey, Jennie, Jonathan, and the late Rhonda Alter.  Additionally, he had two step-children, Nicky Bliwas and Tony Winski, as well as 13 grandchildren.