At the May 26 Village Board Meeting, Elk Grove Village Mayor Craig Johnson and Village Trustees announced a one of its kind public-private partnership to help Elk Grove residents achieve the American dream of home ownership.

Tonne Grove, a proposed 20-home development in the area of 600 E. Elk Grove Blvd. includes a unique program that gives current Elk Grove Village residents a first crack at purchasing a new single-family home. Elk Grove residents choosing to vie for the opportunity to purchase a home at the new development can enter a raffle, which will take place in July. Residents who purchase a home through the program will be required to live in it for five years following the completion of construction.

The Village purchased the 2.6-acre property, which is the site of the former Elk Grove Presbyterian Church, with the intention to identify a developer who would partner with the Village to develop moderately priced single family homes. Nicholas and Associates, Inc., a local general contractor and Tonne Grove, LLC have partnered with the Village to design, build, market and sell the homes. Tonne Grove, LLC will purchase the land from the Village at a cost of $1,000,000, which will cover the cost that the Village paid when it purchased the property last year.

If approved by the Village Board following a Plan Commission hearing next month, Tonne Grove will be the first single-family home development in Elk Grove in over 20 years. Residents have long expressed a desire to Village officials for new, moderately-priced single family home options in town. This program gives residents a unique opportunity to live the American dream.

Tonne Grove will feature three different single-family home styles ranging in size from almost 1,300 square feet to over 2,000 square feet. As part of the resident purchase program, home prices will range from $466,000 to $508,000.

“Owning a brand-new home is really part of the American Dream and we’re very honored to participate in a program that prioritizes our goal to provide genuine home ownership opportunities to Elk Grove residents,” said Mayor Johnson. “This project, which is the first of its kind anywhere, demonstrates our willingness to be creative and innovative in our efforts to provide residents with life-changing opportunities.”

Residents seeking more information about the development and how to register to become eligible for the July raffle can visit TonneGrove.com. The website, created and hosted by Tonne Grove, LLC, provides renderings of the homes with floorplans, pricing information and details about how to register for eligibility in the raffle, which will take place on July 18.

Here’s how the resident purchase program will work:

Potential applicants can visit the website and complete a form indicating their interest in participating in the program. Then, on or about June 12, those who completed the form will be notified via email that they can now formally register for the upcoming raffle. Formally registering requires the completion of several forms and securing a loan pre-approval from a designated mortgage banker. Registration will be open until July 15 and all required registration materials must be provided prior to July 15 in order to be eligible for the raffle.

In order to participate in the raffle, applicants must provide the mortgage pre-approval letter, verify their identity, provide proof of residency, and bring a cashier’s check in the amount of $2,500 to be used as a non-refundable deposit should they be selected and purchase a home.

At the July 18 raffle, all eligible entries will be placed in a ticket drawing system. When an applicant’s name is selected, they will have five minutes to select a lot from those available. They will then sign a purchase agreement and related forms and tender their cashier’s check as their non-refundable deposit. The process will continue until all the lots are claimed. If there are more entries than available lots, those remaining tickets will be drawn to establish a waitlist in the unlikely event a buyer cancels the purchase or cannot close on the sale.

“In Elk Grove, we want our residents to have genuine opportunities to build their lives here. Our overarching goal with this initiative is to encourage home ownership, neighborhood stability and long-term residency right here in Elk Grove Village,” said Mayor Johnson.

If you have any questions or issues regarding Tonne Grove and its website, please call 224-664-3582.