MI Homes Acquires Development Site From Sam Sciarretta In Buffalo Grove For $5.5M
SOLD
$5,500,000
Illinois
See Similar DealsDevelopment Site
Sold 01/29/2026
SOLD
MI Homes Acquires Development Site From Sam Sciarretta In Buffalo Grove For $5.5M
301 Weiland Road
See Similar DealsDevelopment Site
Sold 01/29/2026
Summary
ILLINOIS
Asset Type:Development Site
Transaction Type:Sale
The development site located at 301 Weiland Road, Buffalo Grove, has been sold for $5,500,000. This transaction was finalized on January 29, 2026. The site is characterized as a prime development opportunity in the Buffalo Grove market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,500,000
- Buyer: MI Homes
- Seller: Sam Sciarretta
- Buyer's Representative: Tom Svoboda - CBRE
- Seller's Representative: Mykola Syhlianyk - KOMAR
MI Homes acquired the property from Sam Sciarretta, with Tom Svoboda representing the buyer through CBRE and Mykola Syhlianyk representing the seller through KOMAR. The transaction reflects the ongoing development activities in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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