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Ben Ganje + Partners

Trends Market Guide 2016

Strong sales. Strong brand. Strong ser vice. Thinking about selling or buying this year? Working with an established market leader in the Twin Cities will define your next real estate experience. Ben Ganje + Partners has consistently united extraordinary homes with extraordinary lives while continuing to deliver a level of unparalleled service. For a complimentary consultation to understand the current real estate market conditions, call us today.

Ben Ganje + Partners

612-460-5638 If your home is currently listed with another broker this is not intended as a solicitation of that listing. Photo by Spacecrafting


Contents The power of a successful team 7 At a glance

Our significant sales of 2015.

9 key observations

Get a dashboard view on the progress of the real estate market detailing trends and key metrics.

11 available properties

O  ur exclusive listings featuring new construction, condos and single family homes.

13 Marketing

 Overview of the home selling and buying essentials including our unique marketing and sales strategy.

21 Ben Ganje 29 Josh Neumann 37 Erin Habedank 45 Emily Krueger

Steve Jobs remarked once that you have to be burning with an idea or a problem-that if you are not passionate enough from the start, you’ll never stick it out. I think about this looking back from our early days going through the recession cutting our teeth on the real estate market to where things are now. In 2015, we were honored to be named the #1 sales team at Lakes Sothebys International Realty. Our passion is still focused on every single client we engage with on a daily basis. Our commitment to unparalleled quality continues. In 2016, we look forward to continued success giving families, couples, and hard working individuals a home, a lifestyle, a dream. We hope the properties reflected in this years TRENDS is a sampling of many extraordinary things to come this year. Our commitment is to continue elevating our real estate services beyond the extraordinary. Ben Ganje TRENDS 2016 • Ben Ganje + Partners

4


Ben Ganje + Par tners Twin Cities real estate market leaders Why work with Ben Ganje + Partners? We work together as a team to ensure that you receive personalized, expert service in every facet of your experience. Our team is structured in a way that our agents have the time, attention and flexibility to sell your home while our full time administrative team is focused on each and every detail of the process to insure a successful closing. Each member of our team is experienced and an expert in their field of specialty, providing you an unparalleled level of service and satisfaction.

Doing things ahead of the curve excites us and separates us from the others.

“In today’s market, you need an expert in every aspect of your real estate transaction, from sales to marketing to closing.”

Ben Ganje + Partners ensures your needs are not only met, but anticipated and exceeded.

Lauren Hedelson 612.615.6625

Ben Ganje 612.460.5638

Erin Habedank 952.217.7632

Josh Neumann 612.206.4262

Lauren.Hedelson@lakesmn.com

Ben.Ganje@lakesmn.com

Erin.Habedank@lakesmn.com

Josh@lakesmn.com


Top 10

Ben Ganje+ Partners At a glance

Sales teams by volume in the State of Minnesota- Wall Street Journal

2013, 2014, 2015

Our recent sales activity Bloomington $325,000 Gem Lake $375,000 Minneapolis $220,000 Minneapolis $237,500 Minneapolis $283,000 Minneapolis $249,900 Minneapolis $292,500 Minneapolis $307,000 Minneapolis $320,000 Minneapolis $327,000 Minneapolis $342,000 Minneapolis $385,000 Minneapolis $380,000 Minneapolis $430,000 Minneapolis $446,500 Minneapolis $460,675 Minneapolis $489,900 Minneapolis $530,000 Minneapolis $492,400 Minneapolis $560,000 Minneapolis $629,000 Minneapolis $605,000 Minneapolis $668,000 Minneapolis $718,000 Minneapolis $754,000 Minneapolis $900,000 Minneapolis $1.15M Minneapolis $1,200,000 Minneapolis $1,305,000 Saint Louis Park $226,500 Saint Louis Park $485,000 Saint Paul $246,500 Edina $889,370 Minnetonka $285,000

477,310

$

Top Sales Team at Lakes Sotheby’s

Average sales price

68,312,375

$

Total sales volume

Our significant sales in 2015 2720 Kenilworth, Minneapolis $1.49M Represented buyer 3821 Washburn Ave, Minneapolis $1.39M Represented buyer 3810 Upton Ave, Minneapolis $1.25M Represented buyer 4255 Sheridan Ave, Minneapolis $1.15M Represented both

“Ben Ganje and his team were a pleasure to deal with from the first time we engaged in a discussion to sell our home to the day of closing. They set the right expectations up front with a clear plan to market and sell the property. There was a financial hurdle that come up in the process that they effectively were able to navigate, saving us time and energy. We would recommend Ben Ganje and his team to anyone looking to buy or sell a home.” 7 TRENDS 2016 • Ben Ganje + Partners

5245 Wooddale Ave, Edina $1.1M Represented buyer 7541 Frontier Trail, Chanhassen $925k Represented buyer 201 S 11th St #2620, Minneapolis $1.305M Represented seller 1124 Kenwood Parkway, Minneapolis $900k Represented seller 100 3rd Ave S #3201, Minneapolis $1.2M Represented seller

55

Sellers represented

89

Buyers represented

49.6

Average days on market

57 Groveland Terrace, Minneapolis $1.8M Represented seller 2521 Irving Ave S, Minneapolis $1.023M Represented buyer


È18.5%

inventory levels in 2015

96.6%

Ç 7.3%

offers accepted to list price

median sales price from 2015

76

Average days on Market for a single family home in 2015 - a 10 year record low

2.1

Months supply for single family homes in the twin cities

Ben Ganje+Par tners Key Observations

Independence

Ç0.0% Ç4.8%

Medina

Ç1.6% Ç3.3%

Lake Minnetonka Area

Ç8.5% Ç4.8%

Plymouth

Ç15.2% Ç0.0%

Golden Valley Ç8.8% Ç2.4% Saint Louis Park Ç.4% Ç2.1%

Minnetonka

Ç7% Ç1.5%

È4.3% Ç6.7%

Hopkins

Edina Ç9.5% Ç3%

Change in new listings Price per square foot

Minneapolis

Eden Prairie Ç7.3% Ç2.3%

Richfield

40

Stories for a newly proposed condo town in Minneapolis

2.7%

Twin cities unemployment rate the lowest in any major metro in the U.S.

Bloomington Ç1.7% Ç4.3%

What is the current value of my property? “Based on several measures, residential real estate just had its best year since 2005. Buyer activity reached levels not seen since 2005; seller activity reached its highest level since 2010. The median sales price rose for a four th consecutive year to the highest figure since 2007. Days on market fell for a four th straight year and reached a 10-year low. Sellers accepted offers that were close to their list price—and in some instances, above.” - David Arbit, Director of Research and Econominics MAAR

The market is gaining momentum.

Sellers are frequently reaching out to us to gauge the value of their current residence. Online sites can only go so far to assess the value of properties based on a few metrics. We take the valuation process much further. Look closely at key data points outside of a few solds in a given area to focus on the demand in a given market, key attributes of your property, condition and most importantly timing within the market in the event you wanted to sell. In the current real estate market, presentation is everything. We look carefully at capital improvement costs; updates ranging from minor repairs, painting and staging to maximize the value of every one of our clients properties. TRENDS 2016 • Ben Ganje + Partners

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Grant Park 500 E Grant Street #2107 2BR 2BA 1,415 sq ft.

East Isles 2417 Irving Ave 7 BR 6BA 5,291 sq ft

Linden Hills 4251 Vincent Ave S 3BR 3BA 3,357 sq ft.

Lowry Hill 1124 Kenwood Parkway 3BR 4BA 3,536 sq ft.

Loop Calhoun 3106 W Lake Street #133 2BR 3BA 2,380 sq ft.

Lowry Hill 1716 Dupont Ave S 4BR 4BA 5,733 sq ft.

Ben Ganje + Par tners Available Proper ties Buying a home is one of the most important purchases you will make and working with the right agent to make your dream a reality is crucial. Working with Ben Ganje + Partners insures you will have a par tner in the process who will work diligently and

Ivy 201 S 11th Street #930 2BR 2BA 1,341 sq ft.

Lowry Hill 428 Groveland 6BR 6BA 5,383 sq ft.

East Isles 2402 Irving Ave 4 BR 2BA 2,328 sq ft.

Whittier 2215 Pillsbury 6BR 6BA 5,690 sq ft.

Want to tour one of these extraordinary properties?

612-460-5638

effor tlessly with you to ensure that your goals are fulfilled and your best interests are in mind.

Linden Hills 3905 Vincent Ave S 6BR 4BA 3,449 sq ft SEVENTEEN10 W LAKE IMAGE SUBJECT TO CHANGE

NEW CONSTRUCTION

Linden Hills 4043 Abbott 5BR 5BA 4,179 sq ft.

Crocus Hill 735 Osceola Ave 5BR 5BA 5,335 sq ft.

Minnehaha Creek 5028 Park Ave 5BR 4BA 3,160 sq ft.

Lowry Hill 1909 Humboldt Ave 5BR 4BA 4,165 sq ft.

East Isles 2809 Irving Ave 5BR 5BA 4,442 sq ft

Uptown 1719 Lake 5BR 5BA 4,442 sq ft.

Loring Park 419 Oak Grove 3BR 3BA 3,262 sq ft.

Mill District 1120 S 2nd Street #710 2BR 2BA 1,105 sq ft.

Kingfield 3933 Pleasant Ave. S. 3BR 2BA 1,544 sq ft.

Mill District 100 3rd Ave S #3201 3BR 2BA 1,972 sq ft.

4043 Abbott Ave S

INTERIORS

East Isles 1521 26th Street 4BR 4BA 2,518 sq ft.

ECCO 3116 James Ave S 6BR 4BA 3,996 sq ft.


Ben Ganje + Par tners Marketing & Sales Strategy

“Ben and his team were very professional in assisting us to sell our condo. The marketing materials were beautiful, his negotiation skills proved to be exceptional and his knowledge of the local market was invaluable. We highly recommend Ben as a realtor for obtaining or selling a home.”

Professional Photography

Video

For Sellers

For Buyers

Working with the best in the business, we hire professional photographers to capture the right images to best represent your home. Considering the high importance of having a strong online presence, we stress the importance of a large variety of quality, professional photography to best represent your property on each and every website, as well as all print media.

Video is the new curb appeal. State of the art video technology and our partnership with Spacecrafting allows Ben Ganje + Partners to showcase videos for each of our featured listings with easy navigation

We are showcasing properties locally, nationally and worldwide in the finest ways possible. We leverage world class photography and video, staging for success, correct pricing, presentation and exemplary representation are the key pillars in our marketing strategy.

We listen for the life you want to live as much as the home you want to buy. We understand that finding the perfect lifestyle is as important as finding the perfect property. Understanding the communities with the neighborhoods, award winning schools and growth projections of key areas are critical to the purchase of a new home.

Setting the Stage

By combining professional style, photography and attention to details, your home’s brochure will act as an essential tool in attracting qualified buyers.

Sellers are rewarded with higher returns when they stage their home to the public. Before your house is shown, we’ll help you strengthen buyer reception - with a complimentary staging analysis and recommended enhancements.

Ben Ganje + Partners’ goal is simply to help you buy and sell the right property at the best possible price.

Property Brochures

The following pages highlight a number of the individuals we work closely with that drives our success throughout the sales process.

TRENDS 2016 • Ben Ganje + Partners

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A R C H I T E C T U R A L

P H O T O G R A P H Y

&

V I D E O

Spacecrafting is the largest Minneapolis-based architectural photography and video team. Specializing in capturing dynamic imagery for a wide range of builders, architects, interior designers, and real estate agents, Spacecrafting is focused on using captivating photography to tell the story of a space. Their hands-on approach and keen eye for detail gives each project a unique quality that cannot be matched. 612.353.4073 | Spacecrafting.com


Fix Design Haus

952.500.9796 info@fixdesignhaus.com

Fix Design Haus is a full-service staging firm offering consulting, project management, and vacant home staging with an impressive inventory of high-end furniture and accessories. Schedule an appointment with Laurie Fleming to analyze your proper ty for its strengths and weaknesses and to determine exactly what is needed to make buyers walk in and fall in love.

17 TRENDS 2016 • Ben Ganje + Partners

Stacy Johnson

Laurie Fleming


STRUCTURE TECH Reuben Saltzman 952.915.6466 structuretech1.com

Structure Tech is a family owned company that has grown to become the largest and most highly rated home inspection company in Minnesota. They offer a full line of inspection services including radon testing, Truth-inHousing evaluations, stucco testing, and infrared inspections. Structure Tech’s co-owner and president, Reuben Saltzman, also writes a blog that has been a weekly feature on the Star Tribune web site since 2012.

19 TRENDS 2016 • Ben Ganje + Partners


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TITLENEXUS Tim Rayford, Deena Cole, Nicole Engstrom 612-455-2580 500 Washington Ave S #1035, Minneapolis, MN 55415

Title. Closing. Buying. Selling. Refinancing. TitleNexus is a Title Insurance Agency for Old Republic National Title Insurance Company. TitleNexus provides title insurance and closing services throughout Minnesota. Our company is owned by experienced and knowledgeable employees who make every effor t to provide extraordinary service. We’re dedicated to you, our customers and clients, to take the extra step to make your next home buying and/or selling transaction as stress-free as possible.

23 TRENDS 2016 • Ben Ganje + Partners


Charlie Simmons

Colby Mattson

CHARLIE & Co. Design Ltd. 612.333.2246

Charlie & Co is a full service residential design firm that blends the old and new - mixing styles and materials- creating truly distinctive homes. Whether it be a custom build or a period-true remodel, we bring the same passion and design to every project to create a home that is not only unique and beautiful, but reflects the personality of our clients and suppor ts the needs of their families. We work with our clients through the genesis of their design dream and ensure that every design element is brought to fruition- down to the very last detail.

25 TRENDS 2016 • Ben Ganje + Partners


KROISS DEVELOPMENT Todd M. Simning 612-590-8099 BL #288410

Kroiss Development is a premier luxury builder and designer in the Twin Cities area. We build and remodel in Minneapolis and St. Paul as well as the surrounding suburbs. We have par tnered with many of the top architects to create truly special spaces. With 26 years in the construction business, Kroiss has continued to be a trustwor thy partner for our clients. We manage every project on a 100% open book basis, where every bid, invoice, and receipt is available for client review at any time. Integrity, Transparency and Superior Project Management provides every client with best-in-class service. We welcome the oppor tunity to discuss your next project.

TRENDS 2016 • Ben Ganje + Partners

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Favorite restaurant Butcher and the Boar or Four Bells Favorite exercise Core Power Yoga or Nor th Loop Fitness Favorite activities Running along the river and eating at Izzys ice cream What is the market activity in your neighborhood? Market moves very quick. I sell most units prior to them showing up on the mls. I think we will continue to see a very bullish market for the next couple years. Little known fact I was a state champion wrestler Favorite charity of non-profit Best Christmas Ever

Josh Neumann

612.206.4262 | Josh@LakesMN.com Dickerman selling a home – a place Being a part of a real estate transaction is more than selling “real estate”…it’s Park

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Total closed sales in 2015 57

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Cumulative days on market 74

Cumulative days on market 35

Percent of original price received 96.4%

Percent of original price received 98.6%

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1/2 mile FRANKLIN AVENUE

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ISAIA

MITCHELL GOLD + BOB WILLIAMS

RALPH LAUREN HOME

ZZEGNA

ELEVENTY

SHOCKOE ATELIER

AMERICANLEATHER

LIGNEROSET

ISAIA

MITCHELL GOLD + BOB WILLIAMS

Interior design, fine home furnishings and beautiful men’s apparel. Experience for yourself the classic and the contemporary, brought artfully together.

THE NORTH LOOP | MPLS | 612-746-5329 | MARTI NPATR I C K3.C OM

TRENDS 2016 • Ben Ganje + Partners

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Mark Schaefer

Dan Schaefer

Andrea Darcy

At Landmark Build Co. an old-fashioned work ethic translates into flawless, exquisite workmanship. Our newly constructed and renovated homes are unrivaled in ar tistry and craft. Our very foundation is built around a close relationship with our clients. A Landmark home isn’t everything to everyone. It’s everything to a select few, those discerning individuals who appreciate the very best life has to offer. We invite you to create a dialogue with us.

33 TRENDS 2016 • Ben Ganje + Partners

L

B U I L D C O.

K

landmarkbuildco.com 612.254.7444


Bob Austin 952.417.8456 NMLS 459439 Pat Gleason 952.847.9834 NMLS 400546

Tracy Belanger 952.847.9827 Office 952.240.7044 Cell NMLS 332954

Together we have helped thousands of customers reach their home ownership dreams. We provide customers the best of both worlds: the power and stability you’d expect with a big bank, with the independence and flexibility you’d expect from a broker.

Alerus 11100 Wayzata Blvd, Suite 570, Minnetonka, MN 55305

Creating the home ownership dream by building relationships, delivering customized financing solutions and guiding customers through the often complex mor tgage process. Welcome to the community.

TRENDS 2016 • Ben Ganje + Partners

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The Blake Walker estate isSchool bothArt anCenter emotional

and detailed

50th & France

Carondelet Catholic

PARK

17 e

dale Ave

37 TRENDS 2016 • Ben Ganje + Partners ARDEN

FULTON

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Lynnhurst Park

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35th St E 36th St E

Fraser Academy

Portland Ave

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33

42nd St E

REGINA Linden

35W

35

Total Watershed High

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closed sales in 2015 195

Change from 2014 +38.3% 46th St E construction 20% Percent new

46th St W

Field Elementary

CumulativeMcRae days on market 75 22

FIELD Percent

Washburn High

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of original price received 96.4%

50th St E

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Richard Green Elementary

Pilgrim Lutheran

San Miguel Middle

21

50th St W

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Lake Harriet Community Upper

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31st St E

38th St W

Lyndale Farmstead Park

42nd St W

La

Southwest High

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50th St W

Beard’s Plaisance

La k

44th St W

Linden Hills Village

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Lyndale Hills Playground

22

Lyndale Rose & Rock Gardens

Lake Harriet Bandshell

Upton Ave S

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Reuter Walton 612-823-3489 reuterwalton.com

Nick Walton

Josh Ortmeier

Reuter Walton Companies focuses on helping its clients build, develop and restore its proper ty. Exper ts in all areas of residential and commercial construction and development with a keen eye for detail. Every project has its own life and its own personality. Having decades of experience in the industry, we see each project as a challenge and great oppor tunity to use this experience.

39 TRENDS 2016 • Ben Ganje + Partners


Nick Walton Josh Ortmeier 612-823-3489 2919 Knox Ave S #200 Minneapolis, MN 55408 reuterwalton.com

Kristine Anderson

Lars Peterssen

Gabriel Keller

Peterssen/Keller architecture 612.353.4920 pkarch.com

Peterssen/Keller Architecture is an award-winning full-service architectural firm that specializes in custom homes, lofts, cabins and boutique commercial projects. Our collaborative, client-focused design process results in unique residences that are as distinctive as their owners. As residential architects and designers, we integrate sustainable design practices into every project, from small additions to LEED-cer tified new homes, finding solutions that merge environmental thinking with exceptional design. At Peterssen/Keller, every client is our passion, and every project is an oppor tunity to create a home crafted to last a generation. TRENDS 2016 • Ben Ganje + Partners

42


Designing Value Thinking of renovating an older house or building a brand new home? Architects can add immeasurable value by helping you select the right home or lot for your needs to make the most of your investment. Lars Peterssen, Gabriel Keller, and Kristine Anderson of Peterssen/Keller Architecture (P/K) share insights and tips for working with an architect.

In Progress: a new P/K designed home near Lake Calhoun.

P/K gave this Golden Valley home, originally designed by architect Don Davies in 1955, a new lease on life.

The home encloses a private courtyard with a swimming pool.

P/K maintained the home’s original mid-century spirit.

“Every house has a story and sometimes that story doesn’t match the clients’ needs. If you’re looking at a lot with an older home, we’ll help you determine whether the house can be updated to reflect your story.”

Talk to P/K about your new home.

- Gabriel Keller, Assoc. AIA, Peterssen/Keller

To schedule a consultation, please call

Peterssen/Keller Architecture has worked with many clients of Lakes Sotheby’s International Realty. To view our portfolio, visit pkarch.com.

612-353-4920. 

Q: When is the right time to talk to an architect?

Q: How do the costs of new construction and renovation compare?

A: The ideal time to call an architect is before you spend any money on a home or lot. If you have a specific vision for your new home, we can evaluate the site and analyze zoning to determine whether your dream can become a reality. From there, we can bring in a builder to develop a preliminary construction estimate so you can make an informed decision on whether to move forward with the purchase.

A: Our clients are often surprised to find that renovation can be significantly more expensive than new construction. Older homes can have many costly challenges, including small, disconnected rooms, poor insulation, inefficient mechanical systems, and other issues. Using good design, advanced technology, and new, energy-efficient windows, we can design a new home with great flow, plenty of natural light, and a strong connection to the outdoors at a very practical cost-per-square foot.

“Our clients are often surprised to find renovating an older home can be significantly more costly than building a new home.” P/K renovated this 1909 home originally designed by noted Minneapolis architect Harry Wild Jones.

P/K updated the interiors of the historic home.

“The ideal time to call an architect is before you spend any money on a home or lot. Depending on your goals, we can help you decide whether to renovate or build from scratch.” - Lars Peterssen, AIA, Peterssen/Keller

- Kristine Anderson, Assoc. AIA, Peterssen/Keller Q: Which comes first, the architect or the builder? A: We work with many top builders in the Twin Cities and each project is different. With some projects, we develop the design and then recommend builders based on their exper tise, the type of project, and their availability. With other projects, builders recommend us to their clients. However the project begins, it’s always a rewarding collaboration between architect, builder, and client.

Q: How can we decide whether to renovate or build from scratch?

BEFORE

A: Every house has a story and sometimes that story doesn’t match the new owners’ needs. If it’s an older home, we can help you determine whether it can be easily updated. Taking into account the age, style, and architectural value of the house, we’ll look at it from an investment perspective, as there’s sometimes a tipping point beyond which renovation just doesn’t make financial sense.

P/K designed this organic modern home near Lake Calhoun.

TRENDS 2016 • Ben Ganje + Partners

44


Emily Krueger

of confidence and satisfaction. HerAve life-long passion Franklin W Kenwood

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professionalism leave their clients feeling a profound HILL

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TRENDS 2016 • Ben Ganje + Partners

Portla nd

Wir th NORT

S

School

DOWNTOWN MINNEAPOLIS

DOG PARK

d Pk w y

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MCTC

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o enwo all of Josh Neumann’s Kclients throughout BRYN-MAWR The Blake the buying

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94 to Emerson 394 Emily is focused on providing unparalleled service

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952.393.5265 | Emily.Krueger@LakesMN.com Anwatin Bryn-Mawr DUNWOODY

DIAMOND LAKE

46


St. Genevieve 612-353-4843 5003 Bryant Ave S Minneapolis, MN 55419 Refined French pub with a chic bistro vibe serving inventive dishes with champagne, beer & wine.

47 TRENDS 2016 • Ben Ganje + Partners


Christian Dean Architecture, LLC is an award winning Minneapolis based practice focused on modern residences and commercial projects. A full service creative practice that operates on the recognition that each project is unique and par ticular, we strive to discover the ‘distinctness’ of each project. Our work has been recognized as a leader in designing modern residences in various settings from urban infill to outer metro proper ties and lake homes. We give our clients the confidence to build modern, sustainable homes that are welcomed as good neighbors. We are proud to have our work included in Dwell magazine’s ‘100 Houses We Love’.

Christian Dean Architecture 612.382.2883 deanarch.com

49 TRENDS 2016 • Ben Ganje + Partners


Tattersall Distilling Company 612-584-4152 tattersalldistilling.com #spiritedliving

Dan Oskey

We believe in crafting the absolute best — in life, at the still and behind the bar. Passionate about taste. Committed to quality. Uncompromising every step of the way. Life is too short for anything less. Our spirits, liqueurs and cocktails are the result of research, experimentation and dedication to the finest ingredients available. Here’s to spirited living, enjoy! 51 TRENDS 2016 • Ben Ganje + Partners

Jon Kreidler

Profile for Ben Ganje + Partners

Trends 2016  

Ben Ganje + Partners and Lakes Sotheby's publishes a yearly real estate market update in and around Minneapolis, MN.

Trends 2016  

Ben Ganje + Partners and Lakes Sotheby's publishes a yearly real estate market update in and around Minneapolis, MN.

Profile for benganje
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