About Us

Dynaprop Development Corporation (“Dynaprop”) is a real estate development firm located in downtown Chicago. While Dynaprop primarily performs as a developer of projects within the City of Chicago, it also performs general contracting services, property management services, syndication services and brokerage services to its affiliates. Dynaprop is also a licensed real estate broker in the State of Illinois. Dynaprop and its affiliates have been operating since 1987.

What Sets Us Apart?

  • We are actively involved in all aspects of the project.
  • With over 30 years of experience Dynaprop offers extensive expertise and attention to each project.
  • We have the expertise to rescue troubled projects, particularly those with legal difficulties.
  • Because of our hands on approach, every detail is attended to by principals and senior staff.
  • We typically focus on a select few projects at any one time, allowing us to focus all our attention and resources on each project appropriately.

Dynaprop’s core business is the development of residential and commercial property within the Chicago metropolitan area. It typically forms an affiliate limited liability company or partnership (both are referred to as an “affiliate” herein) which is funded by syndication through its stable of long term investors. Dynaprop acts as the developer of the affiliate which offers the property for sale or lease to the general public.

Dynaprop and its affiliates have rehabilitated, built or converted twenty two (22) prior projects into condominiums and single-family homes over the last thirty one (31) years with gross sales exceeding $87,000,000. Dynaprop has also developed commercial office and retail space in the City of Chicago which it continues to operate. The office spaces are vintage loft buildings in the River North neighborhood. The retail space is located in its project, Pointe 1900 on State, a mixed-use residential and retail development in the South Loop neighborhood. Dynaprop manages the properties which it develops and holds. It typically manages only the properties in its portfolio.

    About Our Team

  • Rick Turner

    As President of Dynaprop, Mr. Turner has worked in the real estate field since 1987. He had practiced as an attorney in the Tax Department of the law firm Schiff, Hardin & Waite from 1985 to 1987. He had previously practiced in the Tax Department of the Big Eight accounting firm Deloitte Haskins & Sells (now known as Deloitte & Touche) from 1982 to 1985. Mr. Turner graduated magna cum laude with a B.S. from the School of Business at Indiana University in Bloomington with an accounting concentration in 1979. He also graduated cum laude with a J.D. from the School of Law at Indiana University in Bloomington in 1982. Mr. Turner also completed a substantial course load towards obtaining an LL.M. in Taxation at the Illinois Institute of Technology - Kent College of Law. Mr. Turner is an attorney licensed to practice law in the State of Illinois. He also is a Certified Public Accountant and a licensed real estate broker. He has been the President of Dynaprop Development Corporation, as well as its predecessor Dynaprop Investment, Ltd., since the latter’s inception in 1987.

  • Howard Adelstein

    As Vice President of Dynaprop, Mr. Adelstein has worked in the real estate field since 1997. Before joining Dynaprop in 2001, he had practiced as a Commercial Real Estate attorney with the Chicago Office of the law firm Jones, Day, Reavis & Pogue from 1997 through 2000. Mr. Adelstein's practice focused primarily on the acquisition and disposition of commercial real estate, including commercial leasing representing landlords, with a secondary focus on commercial loan transactions representing lenders. Since joining Dynaprop in 2001, Mr. Adelstein has been involved in nearly all aspects of real estate, including site evaluation, acquisition and disposition; residential condominium sales; commercial leasing (from brokerage and negotiation to drafting leases); construction management of residential new construction and condominium conversions and commercial tenant build‑out; financing; commercial space and residential condominium unit layout and design; and marketing. Mr. Adelstein graduated cum laude with a B.A. from The Ohio State University in 1993, majoring in Political Science. Mr. Adelstein also graduated with a J.D. from Northwestern University School of Law in 1997. Mr. Adelstein is an attorney licensed to practice law in the State of Illinois and a licensed real estate broker. He has been the Vice President of Dynaprop Development Corporation since 2001.

  • Steve Guzy

    Mr. Guzy joined Dynaprop as Controller in 2005. He has extensive experience in both residential and commercial real estate with over 20 years of experience. He was an accounting manager at Scribcor, Inc. (now NAI Hiffman) and an assistant controller for Camco, Inc. Mr. Guzy graduated with a bachelor's of science in Accounting from the University of Illinois at Chicago in 1989. Mr. Guzy is a Certified Public Accounting and belongs to both the American Institute of Certified Public Accountants and the Illinois CPA Society.

  • Bill Lockhart

    After joining Dynaprop as Project Coordinator in October 2012, Mr. Lockhart became the Property Manager in September 2013.  He graduated from DePauw University with a BS in 1979. Mr Lockhart completed his J.D. from Indiana Law School – Bloomington in 1982 where he was a Note Editor for the Indiana Law Journal. Mr. Lockhart has been active in real estate practice since 1982 as an attorney, broker and developer. He has extensive experience in residential, commercial and industrial real estate developments and transactions.

  • Peter Levin

    Peter joined Dynaprop as an Accounting and Administrative Assistant in May, 2020.  He is currently pursuing a Bachelor's degree in Accounting from Loyola University Chicago.

Giving Back

For us, it’s more than just building homes, it’s building relationships, creating opportunities, and finding ways to give back to the community. One way we give back is by donating $1,000 for every home sold to community organizations and shelters like Chicago Coalition for the Homeless and Franciscan Outreach.

To find out more about these organizations, to donate, or to volunteer, please follow the links below: