CHICAGO—The MACK Companies has purchased Fay's Point, a 27-acre development in south suburban Blue Island, just 15 miles south of Chicago. The site includes 30 existing townhomes, home sites for 44 new-construction townhomes, five lots capable of holding up to 236 new multifamily units, and a marina with more than 80 boat slips.

“We're getting back to our roots with building ground-up, new construction residential properties,” says James McClelland, president and CEO of Tinley Park-based MACK. “Before establishing MACK, I spent 16 years acquiring land and building new homes. This project is a perfect extension of our core business and continues our mission to raise the quality of life of our customers, whether they are renters or homeowners.”

Recently, MACK has been purchasing large numbers of foreclosed homes, most within 30 miles of its headquarters, and continuing to manage the properties after transferring them to American Residential Properties, an Arizona-based REIT. MACK and ARP have an agreement which they say will transfer 30 to 50 homes each month and may eventually total 1,000 homes.