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3231 Meadow Gate Road

Updated Dec 4, 2024

Chase Burns Of LandGuys Closes $1.93M Sale Of 201-Acre Ranch In Sherrard
SOLDLand

Chase Burns Of LandGuys Closes $1.93M Sale Of 201-Acre Ranch In Sherrard

3231 Meadow Gate Road

$1,929,600

$1,270/SF

Building Size

1,519 SF

Asset Type

Land

Closing

Apr 15, 2024

About this deal

AI

The 201-acre ranch in Sherrard, IL, was recently sold for $1,929,600. The property features well-maintained farmland with over 85 percent tillable acreage, primarily consisting of row crop production and expired CRP waterways. Located in Richland Grove Township of Mercer County, this ranch boasts quality soil types and careful land management, making it an attractive investment opportunity for serious land investors and agricultural operators alike.

Summary of transaction details:

  • Property Type: Ranch
  • Transaction Amount: $1,929,600
  • Address: 3231 Meadow Gate Road
  • Market: Sherrard
  • Square Footage: 1,519
  • Price per Square Foot: $1,270

LandGuys, led by Chase Burns, facilitated the sale of this ranch. The property not only offers a substantial amount of tillable acreage for agricultural purposes but also provides a valuable investment opportunity due to its quality soil types and meticulous land management. This sale was a significant deal for both the buyer and the seller, highlighting the expertise of Chase Burns in representing his clients in property transactions.

Players

Chase Burns

Landguys

Broker

$3.1M

vol

2 deals

Broker

Sherrard Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Deal FAQ

About $1.3K per square foot on a published $1.9M for 1,519 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.22%

Cash-on-Cash

-2.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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