132.66 Acre Class A Farm In Lee County Sold For $1.4 Million With Brad Belser As The Broker
$1,399,200
Building Size
—
Asset Type
Land
Closing
Aug 16, 2024
About this deal
AI
A 132.66-acre Class A tillable farm located at 0 Whitney Road in Franklin Grove, Lee County, IL, has been sold for $1,399,200. The land features 120.92 crop acres and has dual road access. Additionally, it includes a transferrable solar lease on 30 acres, providing potential future revenue from the solar project.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,399,200
- Acres: 132.66
- Crop Acres: 120.92
- Address: 0 Whitney Road
- Market: Franklin Grove
- Broker: Brad Belser - JimMaloof Realtor
Brad Belser, representing JimMaloof Realtor, facilitated the transaction, ensuring a successful sale of the property. The deal included considerations for the solar lease, which adds an opportunity for future income.
Players
Market Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.34%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93