John Letherman, CCIM
John Letherman, CCIM, a partner at FM Stone Commercial, got his start in real estate in 1968 shortly after completing a 3-year tour in the U.S. Army Transportation Corps as a Truck Company Commander. He joined the FM Stone team in 1985 with many years of experience in home building, development and real estate sales.
John operates a marketing group with his son, Pete Letherman, selling commercial, industrial, and apartment properties in northcentral Indiana. He also provides development services for owners, developers and investors with Pete, and a virtual group of development specialists. A third generation Realtor, John has been highly successful in brokerage and development since 1968. In addition to his development work, John’s brokerage transactions have exceeded $175 million since joining FM Stone.
John earned the Certified Commercial Investment Member (CCIM) designation in 1986. A CCIM is a recognized expert in the commercial and investment real estate industry. CCIMs have completed a designation curriculum that covers ethics, interest-based negotiation, financial analysis, market analysis, user-decision analysis, and investment analysis for commercial investment real estate. CCIMs must complete a portfolio demonstrating the depth of their commercial real estate experience and sit for a comprehensive examination.
Deeply committed to making Elkhart County a better place for families and business, John is very involved in many community and professional activities. He was elected to the Elkhart County Council in 1988 and continues to serve on the Council today. John is also involved in many other groups including the Elkhart County/City Planning Advisory Committee, Economic Development Corporation of Elkhart County and Michiana Regional Council of Governments.
Commercial & Investment Sales & Leases
Industrial Development & Sales
John Carroll University, Bachelor of Science in Business
Attended Butler Graduate School of Business, Indianapolis
Certified Commercial Investment Member (CCIM), Member
National Association of Realtors (NAR), Member
Indiana Association of Realtors (IAR), Member
Indiana Commercial Board of Realtors (ICBR), Member
Licensed Real Estate Broker, State of Indiana
President Elkhart County Council 2001-2018; Member 1989-2018
Chairman Council Finance Committee 2012-2018
Council Liaison to the Indiana Legislature 2000-2018
President US 31 Coalition 2005-2018; Member 1998-2017; Chairman Emeritus 2018
Chairman Michiana Area Council of Governments 1994-1995 and 2008; Member 1989-2018
Founding Member of the Economic Development Corporation of Elkhart County; Member 2001-2018
Member Builders Association of Elkhart County 1974-2018; President 1996
Governor’s Appointee to the Indiana Toll Road Oversight Board 2008-2018
Member Elkhart Chamber Transportation Council 1986-2018
Chair City-County Advisory Planning Group 1985-2012
Co-Founder of the Elkhart City 2010 Coalition 1995-2010
Member North Central Regional Logistics Council 2014-2018
Guest Lecturer Notre Dame Mendoza School of Business 2004-2006
Member New Horizon Band (Elkhart, Ind. and Naples, Fla.); the Notre Dame Basilica Community Choir; and the San Marco Church Choir, Marco Island, Fla.
Recent Major Transactions
At Elkhart, Indiana I-80/90 Toll Road Interchange: Assembly, design, zoning, leasing and outlot sales at North Point Plaza.
Office leasing, outlot sales, flex construction and leasing at Windsor Crossing, Elkhart, IN
At Middlebury, Indiana I-80/90 Toll Road Interchange: Assembly, development and sale of Greenfield Industrial Park (152 acres). Also, current development of a 147-acre light industrial and warehouse park at that location.
US 33 Corridor between Goshen and Elkhart: Developed and sold the Elkhart Road PUD (Lowe's, Applebee’s, Elkhart General Hospital medical building, Buffalo Wild Wings, etc.)
Acquired for an investor and sold sites at The Willows in Goshen, IN for a large retail project that included Target, Kohl’s and Hobby Lobby.
At the Southwest Corner of the US 20 Interchange and CR 17: Assembled and zoned 129 acres; Sold 72 acres to Ivy Tech College for a regional campus in December 2008; and Developing 47 acres of commercial space adjacent to the campus and along the CR 17 frontage south of US 20.
Land assemblage, zoning and sale of land for: Four conventional apartment projects (approximately 900 units); Five Sec 42 apartment projects; Eight motel projects, at least 10 C-Store sites; 12+ bank branch sites; 10+ restaurant sites; and two assisted living projects since 1985.
Assemblage, zoning and sale of Greenfield Commercial Corridor in Elkhart: Sales to Ryan’s Steakhouse, Willie's Chili & Doghouse (2001) and sale of 13.5 acres to Lowe’s in 2007.
Sale of: Shasta Industries complex, Leer Fiberglass plant, Lippert Components sites, Rexhall Industries plants, Klinger Properties industrial buildings, Homan Lumber complex, Reith Riley construction properties, Fall Creek housing plant site, LRV (Koneta) plant, Coachmen industrial properties and Jayco commercial and industrial properties, among many others.
Partial Client List
Holiday Inn Express
First Source Bank
Lake City Bank
First State Bank
Edward Rose Apartments
Ryan's Steak House
Palmer’s Ace Hardware
Martin Ace Hardware
Teacher’s Credit Union
Universal Forest Products
First Holding Company
Geenan DeKock Properties
CDC Real Estate
Ivy Tech Community College
Bayer Federal Credit Union
Communitywide Federal Credit Union
Star Fleet Trucking