10-22-2007, 09:32 PM
Location: Chicago's burbs
1,016 posts, read
4,542,068 times
Reputation: 920
I recently purchased a Neumann Home (about a month ago) and now I hear the company is going bankrupt!
I'm wondering if anyone has any additional info. I know a lot of Neumann's customers are probably a lot worse off than me (people who have homes currently under construction) but I'm wondering how this will affect me and my half built subdivision? There are empty lots all over the place, homes currently under construction, parks they are supposed to put in, etc. Are they going to leave my subdivision unfinished? Will another builder buy the remaining land and fill in the empty lots? They still owe me sod and I'm wondering if that will ever happen, and what this means for my home warranty.
Last edited by sbd78; 10-22-2007 at 09:45 PM ..
10-23-2007, 07:51 AM
474 posts, read
2,538,771 times
Reputation: 114
Hello 'sbd 78'
Dear Friend:
My son also owns a Neumann Home in the Cortland, Illinois subdivision of "NeuCort" Lakes. That subdivision has been recently completed perhaps a year or so ago. Currently, in that subdivision some recent home 'investors' have been trying to sell their finished homes on the market. So far, very few have been sold due to the current real estate market situation.
Neumann Homes is a good company with quality built homes. From their literature of the past, "Neumann" is owned by a woman and I believe she resides in Wisconsin. That's from memory.
So I am quite surprised that the company would disolve completely. Maybe it is just regathering to the Wisconsin area.
I would be interested in more information if you could provide it? For example, how did you determine that perhaps they are declaring bankruptcy? And where is your Neumann Homes community located that has unfinished homes?
In the Chicago area, the Neumann Homes headquarters is located in Naperville, Illinois. Close to Diehl Road, Winfield Road and Interstate 88. IF you ask, I think I can't look up their specific phone number and address for you. So if you are close to that area, you can do a personal visit with them to find out more about your particular situation.
Visit
Town of Cortland -- Welcome to Cortland! and click on the picture of the "NeuCort" Lakes if you wish to see that finished subdivision by Neumann Homes.
And please save my Howell_Street name so that you may ask questions regarding the condition / quality of my son's finished Neumann Home. That's only if you wish to.
Best Regards In Your Situation,
Carter Glass,
Wheaton, IL &
Cortland, IL
10-23-2007, 08:10 AM
474 posts, read
2,538,771 times
Reputation: 114
Hello Again Sbd 78
So here is more information regarding (bankrupt?) Neumann Homes. Please read my above "HOWELL_STREET" thread. Sorry about the above 'typos'. So the Neumann headquarters office building is locate at the following address.
10-23-2007, 08:46 AM
474 posts, read
2,538,771 times
Reputation: 114
Another Suggestion For You
Please read my above HOWELL_STREET threads. And here is another suggestion for you. City - Data Forums also has another excellent forum that is called "MORTGAGES". I also spend a lot of time on that forum. So restate your Neumann Homes situation and then ask for some advice among the professional realtors, bankers, and mortgage processors who hang out there. They are very friendly / professional people and will do their best to make viable suggestions.
Carter Glass
10-23-2007, 09:46 AM
Location: Chicago's burbs
1,016 posts, read
4,542,068 times
Reputation: 920
Hi Carter,
Last edited by sbd78; 10-23-2007 at 09:54 AM ..
10-23-2007, 09:48 AM
Location: Near West Burbs, IL
622 posts, read
2,619,596 times
Reputation: 199
Here's a link to the Chapter 11 filing. Chapter 11 for Neumann :: CHICAGO SUN-TIMES :: Business (http://www.suntimes.com/business/615000,CST-FIN-neumann23.article - broken link)
10-23-2007, 11:06 AM
5 posts, read
23,808 times
Reputation: 10
I started a Yahoo Group for the purpose of folks who are in "Bankruptcy Limbo" with Neumann to help each other:
NeumannHomesBankruptcy : Neumann Homes Bankruptcy
I have also cross-linked the two threads on City-Forum there . . .
I have $16K in a "Neumann escrow account" . . . house that we really wanted, to be completed this December . . . *sigh* . . . house in Los Angeles, CA closes today, out in 30 days, I am in Chicago trying to set something else up for my family of 12
-Alfred
10-23-2007, 11:14 AM
474 posts, read
2,538,771 times
Reputation: 114
Also A Thank You To Our Moderator, Mdz
First off, a thanks to our moderator, 'MDZ' for providing a source of info on Neumann's bankruptcy. In a little while, I will print that article for my son, Jonathan. He owns the NeuCort Lakes house in Cortland.
Every subdivision that Neumann has built in the past, and there are a number around the Chicago area - - is eventually 'signed over' to a homeowner's association. So you will want to also contact them early to get their views and opinions as to whether that homeowner's associationg is going to support Neustonehire. If not, you folks are going to become an island unto yourselves - - with only the sporadic homes that have been completed in that subdivision. So it is important to contact that homeowner's association if it now exists.
When my son, Jonathan, comes home from work this evening, I will ask him if he still has the Neumann document that states MS. Neumann's full name and her Wisconsin address. Of course, this is from my memory of several years ago when Jonathan and I were going through his purchase price. He bought his NeuCort Home about three years ago.
IF I can locate the Neumann residential address, then I will send it to you probably through private contact but still through City - Data.
Best Regards,
Carter Glass
10-23-2007, 12:41 PM
474 posts, read
2,538,771 times
Reputation: 114
Perhaps More Helpful Info?
Although I am quite sure that the owner of Neumann Homes - - at least at one time - - was a Ms. / Mrs. Neumman. - - However, in visiting
BUILDER Online: Home Building News, Home Plans, Home Design Ideas and Building Products for Home Builders and regarding their informative article about Neumann Homes going into bankruptcy - - it is also their opinion that Neumann Homes is 'belly up' for good. From memory, I believee chapter 11 is for intent of reformation of the business. But as the article states, maybe they don't intend to reform the business.
On that web site, "Ken Neumann" is listed as the current CEO. So as a possible guess, MAYBE at one time "Ken" placed the company in his wife's name as a tax shelter? But that is only a guess on my part.
In visiting
Free People Search by ZabaSearch! there are a few Ken Neumann names with varying middle initials located in Wisconsin. And only as a guess, it would be my guess that Wisconsin is their family residence. That's because they mentioned this home in their literature when my son's house was built in NeuCort Lakes. I suppose it was something like a 'ma & pa' scenario. "Trust us because we are also your friendly neighbors."
The above listed website of "builderonline.com" seems to provide more information than the news media comments.
Carter Glass
10-23-2007, 01:16 PM
Location: La Grange Illinois
79 posts, read
264,512 times
Reputation: 28
They are working out a plan w/lenders to complete building of the homes "that have already been started". As far as deposits on pending homes, you may be at a loss I'm afraid.
Please register City-data.com
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Residents speaking Spanish at home - Foreign born (%)
Residents speaking other language at home (%)
Residents speaking other language at home - Born in the United States (%)
Residents speaking other language at home - Native, born elsewhere (%)
Residents speaking other language at home - Foreign born (%)
Class of Workers - Employee of private company (%)
Class of Workers - Self-employed in own incorporated business (%)
Class of Workers - Private not-for-profit wage and salary workers (%)
Class of Workers - Local government workers (%)
Class of Workers - State government workers (%)
Class of Workers - Federal government workers (%)
Class of Workers - Self-employed workers in own not incorporated business and Unpaid family workers (%)
House heating fuel used in houses and condos - Utility gas (%)
House heating fuel used in houses and condos - Bottled, tank, or LP gas (%)
House heating fuel used in houses and condos - Electricity (%)
House heating fuel used in houses and condos - Fuel oil, kerosene, etc. (%)
House heating fuel used in houses and condos - Coal or coke (%)
House heating fuel used in houses and condos - Wood (%)
House heating fuel used in houses and condos - Solar energy (%)
House heating fuel used in houses and condos - Other fuel (%)
House heating fuel used in houses and condos - No fuel used (%)
House heating fuel used in apartments - Utility gas (%)
House heating fuel used in apartments - Bottled, tank, or LP gas (%)
House heating fuel used in apartments - Electricity (%)
House heating fuel used in apartments - Fuel oil, kerosene, etc. (%)
House heating fuel used in apartments - Coal or coke (%)
House heating fuel used in apartments - Wood (%)
House heating fuel used in apartments - Solar energy (%)
House heating fuel used in apartments - Other fuel (%)
House heating fuel used in apartments - No fuel used (%)
Armed forces status - In Armed Forces (%)
Armed forces status - Civilian (%)
Armed forces status - Civilian - Veteran (%)
Armed forces status - Civilian - Nonveteran (%)
Fatal accidents locations in years 2005-2021
Fatal accidents locations in 2005
Fatal accidents locations in 2006
Fatal accidents locations in 2007
Fatal accidents locations in 2008
Fatal accidents locations in 2009
Fatal accidents locations in 2010
Fatal accidents locations in 2011
Fatal accidents locations in 2012
Fatal accidents locations in 2013
Fatal accidents locations in 2014
Fatal accidents locations in 2015
Fatal accidents locations in 2016
Fatal accidents locations in 2017
Fatal accidents locations in 2018
Fatal accidents locations in 2019
Fatal accidents locations in 2020
Fatal accidents locations in 2021
Alcohol use - People drinking some alcohol every month (%)
Alcohol use - People not drinking at all (%)
Alcohol use - Average days/month drinking alcohol
Alcohol use - Average drinks/week
Alcohol use - Average days/year people drink much
Audiometry - Average condition of hearing (%)
Audiometry - People that can hear a whisper from across a quiet room (%)
Audiometry - People that can hear normal voice from across a quiet room (%)
Audiometry - Ears ringing, roaring, buzzing (%)
Audiometry - Had a job exposure to loud noise (%)
Audiometry - Had off-work exposure to loud noise (%)
Blood Pressure & Cholesterol - Has high blood pressure (%)
Blood Pressure & Cholesterol - Checking blood pressure at home (%)
Blood Pressure & Cholesterol - Frequently checking blood cholesterol (%)
Blood Pressure & Cholesterol - Has high cholesterol level (%)
Consumer Behavior - Money monthly spent on food at supermarket/grocery store
Consumer Behavior - Money monthly spent on food at other stores
Consumer Behavior - Money monthly spent on eating out
Consumer Behavior - Money monthly spent on carryout/delivered foods
Consumer Behavior - Income spent on food at supermarket/grocery store (%)
Consumer Behavior - Income spent on food at other stores (%)
Consumer Behavior - Income spent on eating out (%)
Consumer Behavior - Income spent on carryout/delivered foods (%)
Current Health Status - General health condition (%)
Current Health Status - Blood donors (%)
Current Health Status - Has blood ever tested for HIV virus (%)
Current Health Status - Left-handed people (%)
Dermatology - People using sunscreen (%)
Diabetes - Diabetics (%)
Diabetes - Had a blood test for high blood sugar (%)
Diabetes - People taking insulin (%)
Diet Behavior & Nutrition - Diet health (%)
Diet Behavior & Nutrition - Milk product consumption (# of products/month)
Diet Behavior & Nutrition - Meals not home prepared (#/week)
Diet Behavior & Nutrition - Meals from fast food or pizza place (#/week)
Diet Behavior & Nutrition - Ready-to-eat foods (#/month)
Diet Behavior & Nutrition - Frozen meals/pizza (#/month)
Drug Use - People that ever used marijuana or hashish (%)
Drug Use - Ever used hard drugs (%)
Drug Use - Ever used any form of cocaine (%)
Drug Use - Ever used heroin (%)
Drug Use - Ever used methamphetamine (%)
Health Insurance - People covered by health insurance (%)
Kidney Conditions-Urology - Avg. # of times urinating at night
Medical Conditions - People with asthma (%)
Medical Conditions - People with anemia (%)
Medical Conditions - People with psoriasis (%)
Medical Conditions - People with overweight (%)
Medical Conditions - Elderly people having difficulties in thinking or remembering (%)
Medical Conditions - People who ever received blood transfusion (%)
Medical Conditions - People having trouble seeing even with glass/contacts (%)
Medical Conditions - People with arthritis (%)
Medical Conditions - People with gout (%)
Medical Conditions - People with congestive heart failure (%)
Medical Conditions - People with coronary heart disease (%)
Medical Conditions - People with angina pectoris (%)
Medical Conditions - People who ever had heart attack (%)
Medical Conditions - People who ever had stroke (%)
Medical Conditions - People with emphysema (%)
Medical Conditions - People with thyroid problem (%)
Medical Conditions - People with chronic bronchitis (%)
Medical Conditions - People with any liver condition (%)
Medical Conditions - People who ever had cancer or malignancy (%)
Mental Health - People who have little interest in doing things (%)
Mental Health - People feeling down, depressed, or hopeless (%)
Mental Health - People who have trouble sleeping or sleeping too much (%)
Mental Health - People feeling tired or having little energy (%)
Mental Health - People with poor appetite or overeating (%)
Mental Health - People feeling bad about themself (%)
Mental Health - People who have trouble concentrating on things (%)
Mental Health - People moving or speaking slowly or too fast (%)
Mental Health - People having thoughts they would be better off dead (%)
Oral Health - Average years since last visit a dentist
Oral Health - People embarrassed because of mouth (%)
Oral Health - People with gum disease (%)
Oral Health - General health of teeth and gums (%)
Oral Health - Average days a week using dental floss/device
Oral Health - Average days a week using mouthwash for dental problem
Oral Health - Average number of teeth
Pesticide Use - Households using pesticides to control insects (%)
Pesticide Use - Households using pesticides to kill weeds (%)
Physical Activity - People doing vigorous-intensity work activities (%)
Physical Activity - People doing moderate-intensity work activities (%)
Physical Activity - People walking or bicycling (%)
Physical Activity - People doing vigorous-intensity recreational activities (%)
Physical Activity - People doing moderate-intensity recreational activities (%)
Physical Activity - Average hours a day doing sedentary activities
Physical Activity - Average hours a day watching TV or videos
Physical Activity - Average hours a day using computer
Physical Functioning - People having limitations keeping them from working (%)
Physical Functioning - People limited in amount of work they can do (%)
Physical Functioning - People that need special equipment to walk (%)
Physical Functioning - People experiencing confusion/memory problems (%)
Physical Functioning - People requiring special healthcare equipment (%)
Prescription Medications - Average number of prescription medicines taking
Preventive Aspirin Use - Adults 40+ taking low-dose aspirin (%)
Reproductive Health - Vaginal deliveries (%)
Reproductive Health - Cesarean deliveries (%)
Reproductive Health - Deliveries resulted in a live birth (%)
Reproductive Health - Pregnancies resulted in a delivery (%)
Reproductive Health - Women breastfeeding newborns (%)
Reproductive Health - Women that had a hysterectomy (%)
Reproductive Health - Women that had both ovaries removed (%)
Reproductive Health - Women that have ever taken birth control pills (%)
Reproductive Health - Women taking birth control pills (%)
Reproductive Health - Women that have ever used Depo-Provera or injectables (%)
Reproductive Health - Women that have ever used female hormones (%)
Sexual Behavior - People 18+ that ever had sex (vaginal, anal, or oral) (%)
Sexual Behavior - Males 18+ that ever had vaginal sex with a woman (%)
Sexual Behavior - Males 18+ that ever performed oral sex on a woman (%)
Sexual Behavior - Males 18+ that ever had anal sex with a woman (%)
Sexual Behavior - Males 18+ that ever had any sex with a man (%)
Sexual Behavior - Females 18+ that ever had vaginal sex with a man (%)
Sexual Behavior - Females 18+ that ever performed oral sex on a man (%)
Sexual Behavior - Females 18+ that ever had anal sex with a man (%)
Sexual Behavior - Females 18+ that ever had any kind of sex with a woman (%)
Sexual Behavior - Average age people first had sex
Sexual Behavior - Average number of female sex partners in lifetime (males 18+)
Sexual Behavior - Average number of female vaginal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a woman (18+)
Sexual Behavior - Average number of woman performed oral sex on in lifetime (18+)
Sexual Behavior - Average number of male sex partners in lifetime (males 18+)
Sexual Behavior - Average number of male anal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a man (18+)
Sexual Behavior - Average number of male oral sex partners in lifetime (18+)
Sexual Behavior - People using protection when performing oral sex (%)
Sexual Behavior - Average number of times people have vaginal or anal sex a year
Sexual Behavior - People having sex without condom (%)
Sexual Behavior - Average number of male sex partners in lifetime (females 18+)
Sexual Behavior - Average number of male vaginal sex partners in lifetime (females 18+)
Sexual Behavior - Average number of female sex partners in lifetime (females 18+)
Sexual Behavior - Circumcised males 18+ (%)
Sleep Disorders - Average hours sleeping at night
Sleep Disorders - People that has trouble sleeping (%)
Smoking-Cigarette Use - People smoking cigarettes (%)
Taste & Smell - People 40+ having problems with smell (%)
Taste & Smell - People 40+ having problems with taste (%)
Taste & Smell - People 40+ that ever had wisdom teeth removed (%)
Taste & Smell - People 40+ that ever had tonsils teeth removed (%)
Taste & Smell - People 40+ that ever had a loss of consciousness because of a head injury (%)
Taste & Smell - People 40+ that ever had a broken nose or other serious injury to face or skull (%)
Taste & Smell - People 40+ that ever had two or more sinus infections (%)
Weight - Average height (inches)
Weight - Average weight (pounds)
Weight - Average BMI
Weight - People that are obese (%)
Weight - People that ever were obese (%)
Weight - People trying to lose weight (%)
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I'm wondering if anyone has any additional info. I know a lot of Neumann's customers are probably a lot worse off than me (people who have homes currently under construction) but I'm wondering how this will affect me and my half built subdivision? There are empty lots all over the place, homes currently under construction, parks they are supposed to put in, etc. Are they going to leave my subdivision unfinished? Will another builder buy the remaining land and fill in the empty lots? They still owe me sod and I'm wondering if that will ever happen, and what this means for my home warranty. 
Hello 'sbd 78'
