Updated Feb 11, 2025
Henry Joern Sells Development Site In Lake Zurich For $2.125 Million With Sean Dailey's Representation
670 South Old Rand Road
$2,125,000
$5/SF
Building Size
398,574 SF
Asset Type
Development Site
Closing
Jan 31, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 670 South Old Rand Road in the Lake Zurich market. The sale price for the property was $2,125,000, with a building square footage of 398,574 and a price per building square foot of $5. The property also has a total square footage of 398,574 and a price per square foot of $5.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,125,000
- Seller: Henry Joern
- Broker: Sean Dailey - Homesmart Connect
- Date of Sale: 01/31/2025
This transaction involved key individuals in the real estate market, with Sean Dailey representing the broker for the deal. The seller, Henry Joern, successfully completed the sale of the development site, contributing to the ongoing activity in the Lake Zurich area.
Players
Lake Zurich Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93