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My First Real Estate Purchase...For Love of Community

By
Real Estate Agent with Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com TN License #326261

community parkBefore I was a real estate agent, before I was even a homeowner, I was a Parks and Recreation Director in the suburbs of Chicago. I loved my job. One of the best things about it was that I could help shape our community by acquiring land for public parks. Parks that would benefit the residents of our town for the foreseeable future. 

My first land purchase took place in the 1970's. It was part of 80 acres located in the geographical center of our community. It was adjacent to a 34 acre par three golf course already owned by the Park District and an additional 80 acre wooded parcel owned by the county Forest Preserve District. If this land could be acquired, it would forever be the cornerstone of a fabulous open space park in the center of our growing community.

The problem was that the land was not for sale.

The two brothers who owned the land and farmed it were the "salt of the earth". They were older gentlemen, who had lived on it when they were growing up. Their old homestead was now disintegrated into rotting wood, but their love of the land still stood as strong as ever.

I remember the first meeting we had to discuss their property. To them I'm sure I appeared to be a young kid, wet behind the ears. Problem was, it wasn't far from the truth. I was in my mid twenties, but my Board members at the time preferred me to wear a mustache so that, as they said, "I looked more than 18 years old!"

Even though youthful in appearance I had landed on a strategy that made sense to me: Be honest, and appeal to the the lasting legacy that they could provide for the community. It became clear to me during our earliest talks they did not want their land to be developed into another subdivision. They proved to be tough negotiators (as one would expect), but over a period of time we came to a fair price for 33 acres. 

I was extraordinarily proud of this acquisition. It did in fact become the certerpiece of our community as we eventually purchased the remaining acreage. It was developed with baseball fields, soccer fields, nature trails through the woods, and an incredible Community Center with an indoor and outdoor pool.

What did I learn? I learned that people sell their land and homes for many different reasons. Some for the money to be gained...others for the the love of their community.

Posted by

TW Realty Group
 
Tom White, REALTOR®
Franklin Homes Realty LLC
(615) 870-8169
 

 

 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Tom,  that is a great story.  You took the right approach by not trying to appeal to their sense of greed but their sense of community.  I bet those brothers would be very proud of he legacy they left behind. 

Apr 23, 2014 10:20 AM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Ron and Alexandra--Yep, that's my story as well! Now I have a short beard because Tammie likes it. Oh well...

Kathy--It was a real learning experience for me because I was so early in my career! Quite a thrill, actually.

Belinda--I know they were. We named the wooded area trail system after them. Very cool stuff!

Apr 23, 2014 10:56 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Tom, Some leave a legacy of millions of dollars and some leave a legacy of their life, family and passion.  This is such a great story. That land was put to great use for the entire community to enjoy.  Now here you are selling real estate with your lovely wife and still sporting a mustache. 

Apr 23, 2014 10:59 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Know the difference between these two is priceless.  One has to understand what is motivating the seller to sell if at all possible.  It is critical to a transaction being a win win for all parties.

Apr 23, 2014 12:20 PM
Sondra Meyer:
EXP Realty, LLC - Corpus Christi, TX
See It. Experience It. Live It.

Suggested!  This is a wonderful story.  I'm glad there land didn't become just another subdivision.  

Apr 23, 2014 01:25 PM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Growing up in Chicago I have spent great amounts of time at the Cities park system. All the parks I have been to have been terrific!

Apr 23, 2014 02:23 PM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Kathleen--This was many years ago, but the acquisition and development of that Community Park was something really important and special. I think the real credit goes to that family. They could have made a boatload of money selling the property to one of the developers sleeping on their doorstep!

Joan--If ever there was a win/win, this was it!

Sondra--Thank you! I'm glad I had an opportunity to share the story.

Bill--No argument here (even though I'm only a little biased, LOL). The Chicago area does boast some of the finest parks and facilities in the nation. 

Apr 23, 2014 02:48 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
Knowing the difference between all things can be equally baseless and you have and have a good head on tour shoulders it seems. Keep it up! Love and light, Laura
Apr 23, 2014 03:38 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Tom. Wonderful story my friend. The best part about what you shared was your commitment to be honest and straight forward, which is still the case after all these years.

Apr 23, 2014 07:40 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

For the love of community says it all....may many others realize this

Apr 23, 2014 11:53 PM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Laura--Thank you. 

Joe--I think that's the way to work...

Richie--Yep, these two brothers really "got it". They weren't in a financial position to just donate the land. Believe it or not we worked with this family for almost 20 years acquiring all 80 acres!

Apr 24, 2014 12:39 AM
Cheryl Dukes . . . . . Intown Atlanta
Guaranteed Offer for your Home - eXp realty - Atlanta, GA

Must be expensive to purchase real estate nowadays in Chicagoland.

Apr 24, 2014 01:34 AM
Tracy Lee Parker
RE/MAX DFW Associates - Royse City, TX
Buy*Sell*Rent

I enjoyed your post. I love the fact that some people sell for the love. My church purchased land for below market value because the owners, all heirs , did it for the love of our city!!

 

Apr 24, 2014 07:06 AM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Cheryl--We don't live there anymore...but I'm sure I could set you up with a great agent. LOL.

Russell and Tracy Lee--That's great to hear!

Apr 24, 2014 11:24 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Hi Tom, I have seen landowners in Clarksville donate land to the city for parks or for schools. That has to be for love of the community.

Apr 24, 2014 11:58 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Great post, Tom.  I can still feel the pride you took in promoting the benefit of the park district and protecting the land for future generations and your community to utilize in a healthy way through your words here.  The community was lucky to have you working in their behalf ...

Gene

Apr 28, 2014 06:47 AM
Sondra Meyer:
EXP Realty, LLC - Corpus Christi, TX
See It. Experience It. Live It.

Just stopping by to see if you posted anything else.  I still like this story about the legacy the farmer was able to leave by selling when he did. 

Apr 28, 2014 01:40 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Leaving a last mark on a community is a huge deal...at least it would be to me.

Apr 29, 2014 03:10 AM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

Debbie--I did work with some individuals who donated land...it's awesome.

Gene--Thanks. It was a joy to work there.

Sondra--I'm slipping up on my blogging. I loved the post you wrote about writing a little faster...

Chris Ann--You are so right!!

Apr 29, 2014 04:57 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Wow, now I'm going to gush. That is mighty impressive and it would be a legacy I would be so proud of owning. Good for you, Tom.

Apr 30, 2014 02:59 AM