Summary
Prestonfield L.L.C. was the Declarant, with Lennar Chicago, Inc. as the Designated Builder. The Declarant exercised control during the development period. Declarant control terminated no later than April 20, 2011 — seven years after the Declaration was recorded. The community has been fully owner-controlled since at least that date. The founding Board of Directors were Declarant-appointed, not elected by residents.
Declarant Information
| Field | Detail |
|---|---|
| Declarant | Prestonfield L.L.C., an Illinois limited liability company |
| Sole Member of Prestonfield L.L.C. | Concord Homes, Inc., a Delaware corporation |
| Concord Homes signatory | Dean A. Edmeier, Vice President |
| Designated Builder | Lennar Chicago, Inc. |
| Declaration Recorded | April 20, 2004 |
| Turnover Date (latest) | April 20, 2011 (7 years from recording) |
| Community fully owner-controlled since | At most April 20, 2011 |
Applicable Rules
| Rule | Source | Section |
|---|---|---|
| Declarant is Prestonfield L.L.C.; Designated Builder is Lennar Chicago, Inc. | Declaration 2004 | Recitals |
| Declarant control terminates no later than 7 years from recording date | Declaration 2004 | Article (Turnover provisions) |
| Initial Board of Directors designated by Declarant | Articles of Incorporation 2003 | Article 5 |
Subdivision Details
- County: DuPage County, Illinois
- Municipality: City of West Chicago, Illinois
- Units: Prestonfield Unit 1, Unit 2, Unit 3
- Total Lots: 217
- Streets: Post Oak Circle, Sweetbay Lane, Heritage Woods Drive, White Oak Lane, Snowberry Lane, Laurel Lane, Hemlock Lane, Sandcherry Lane, Sassafras Drive, Red Oak Court
History
The Declarant-designated founding Board (Mankedick, Rutledge, Godek — see board-of-directors) served only until the first annual owner meeting, after which residents elected the Board. All developer interests in the community terminated by April 20, 2011 at the latest. Lennar Chicago, Inc. has no ongoing role in the community.
Open Questions
- The precise date that Declarant control actually transferred (as opposed to the contractual deadline of April 20, 2011) would be reflected in meeting minutes from approximately 2005–2011. Ingesting early meeting minutes would establish the actual transition date.