Naperville Mansion Owners Set To Develop Four New Luxury Homesites – Why Buyers Are Choosing To Flip Land Rover Homes

In a recent development, the owners of an $8.076 million record-breaking mansion in Naperville have been given the green light to develop four new luxury homesites. Flipping large acres of land for homesite development is gaining popularity due to rising housing demand and urban sprawl. Investors buy cheaper, undeveloped land in suburban or rural areas, subdivide it and sell it for higher profits. 

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What Happened: Keyur and Megha Trivedi, who acquired the mansion in November 2023, are set to sell off a 0.47-acre portion of their land to create the new homesites, as reported by the Chicago Tribune. The Trivedis purchased the mansion, originally constructed by Donald Brooks, at an auction for a DuPage County record price of $8.076 million.

According to the Chicago Tribune report, the Trivedis plan to market the four houses as a subdivision named “The West End” in collaboration with Naperville-based homebuilder Lakewest Custom Homes. The corner mansions will be listed for $3.2 million while the two central properties will be listed for $3 million.

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According to listing agent Katie Minott, the Trivedis aim to retain control over the land on the east side of their property. She further added that the proposed homes will be three stories high and boast full-finished basements, outdoor kitchens and entertainment spaces with a view of downtown Naperville.

The Naperville City Council approved the subdivision on July 16. The Trivedis’ mansion, a masterpiece by Charles Cook Architectural Design Studio, features six full bathrooms, three half bathrooms, three fireplaces, limestone and white oak floors, cathedral ceilings, skylights, hand-hewn white oak beams and an on-site studio.

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Why It Matters: This development signifies a growing trend in the real estate market where homeowners capitalize on their property’s value by creating additional homesites. This generates extra income and contributes to the local economy by providing more housing options. The Trivedis’ decision to develop luxury homesites on their property is a strategic move that could inspire other homeowners to explore similar opportunities.

Land flipping is especially valuable when certain aspects, such as zoning changes and infrastructure improvements, significantly increase the original land value. Many investors focus on selling lots rather than building homes, reducing costs while benefiting from regional housing shortages. Favorable financing and partnerships with developers and local governments make large-scale land flipping attractive, especially in areas with job growth and expanding urban centers.

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