WHY LEXINGTON?

JAN 2, 2007

Former Concord Chairman, Ron Benach, Launches Fourth Homebuilding Company of 44-Year Career

Chicago Sun Times

Ron Benach, 74, who founded three successive homebuilding companies and built each into one of the largest residential developers in Chicago, is starting a fourth.

Benach, a member of the Homebuilders Association of Greater Chicago Hall of Fame and the most recent recipient of its Lifetime Achievement Award, has announced that he is launching a new homebuilding venture called Lexington Homes.

Ron Benach, 74, who founded three successive homebuilding companies and built each into one of the largest residential developers in Chicago, is starting a fourth.

Benach, a member of the Homebuilders Association of Greater Chicago Hall of Fame and the most recent recipient of its Lifetime Achievement Award, has announced that he is launching a new homebuilding venture called Lexington Homes.

The Lexington name is one Benach has had success with in the past. In 1962 Benach started 3H Development selling it to US Home 10 years later. In 1974 he established the first Lexington Homes, which he sold to Westinghouse in 1989. A few years later, in 1992, Benach founded Concord Homes, which he sold to national homebuilding giant, Lennar, in 2002.

A number of former executives from Lexington Homes and Concord Homes have joined Benach in the latest venture, including Wayne Moretti, Max Plzak and Benach’s son, Jeff.

The elder Benach will hold the title of chairman of the new Lexington Homes, while Moretti will be its president and chief executive officer; Plzak will be the chief financial officer; and Jeff Benach will be the executive vice president of sales and marketing.

“Surround yourself with the right people, do what you love and have fun,” said Benach. “This industry has been good to me and the people who helped me build and run the other companies, so why not do it again?.”

Lexington Homes will focus on high-density residential development within the city of Chicago and close-in suburbs.

“We are currently putting together a planned development for a large piece of land in the city and are considering other infill opportunities, as well. We’re off to a fast start,” said Jeff Benach.

According to Peter Schwartz, executive director of the Homebuilders Association of Greater Chicago, “Ron Benach is a living legend. He and his partners have been, and continue to be, a remarkable force in the homebuilding industry. There are few who can match their leadership and track record. It will be exciting to see what they do.”

"As first time home buyers, purchasing a home can be a scary thing, but it didn't take us long to see that at Lexington Park the staff really is on your side and wants to help you build your perfect home."

- Carolyn Carrara & Phil Arnold

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