Jim Sullivan Realty Acquires Development Site In Elizabeth For $1.7M
SOLD
$1,696,000
Illinois
See Similar DealsDevelopment Site318 SF
Sold 01/29/2021
SOLD
Jim Sullivan Realty Acquires Development Site In Elizabeth For $1.7M
2016 W Morley Rd, Elizabeth, IL, USA
See Similar DealsDevelopment Site318 SF
Sold 01/29/2021
Summary
ILLINOIS
Asset Type:Development Site
Price Per Square Foot:$5,333
Total Square Footage:318 SF
Transaction Type:Sale
Located at 2016 W Morley Rd in Elizabeth, this development site spanning 318.50 acres was recently sold for $1,696,000. The transaction took place on January 29, 2021. The property is positioned in the market of Elizabeth and offers immense potential for development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,696,000
- Acres: 318.50
- Price per Acre (PPA): $5,325
- Buyer's Representative: Jim Sullivan - Jim Sullivan Realty
- Seller's Representative: Lowell Taylor - LandGuys LLC
Jim Sullivan from Jim Sullivan Realty represented the buyer in this transaction, while Lowell Taylor from LandGuys LLC served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,453.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,025.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,039.91
Annual Debt Service$96,478.86
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