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Sale · Land

Updated Dec 4, 2024

132.66 Acre Class A Farm In Lee County Sold For $1.4 Million With Brad Belser As The Broker
SOLDLand

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

Brad Belser

JimMaloof Realtor

Broker

$2.7M

vol

2 deals

Broker

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

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