Lennar CalAtlantic Group Purchases 84.38 Acres Of Land In South Elgin For $6.5 Million
325 Umbdenstock Road
$6,500,000
Building Size
—
Asset Type
Land
Closing
Aug 25, 2025
About this deal
AI
84.38 acres of residential land located at 325 Umbdenstock Road in South Elgin, Illinois, was transacted for $6.5 million. The property is situated in a market with significant potential for residential development.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $6,500,000
- Buyer: Lennar/CalAtlantic Group
- Seller: Spohr Family Trust
- Brokers: John Cassidy, Jay Farnam & Kenneth Franzese - Lee & Associates
The buyer, Lennar/CalAtlantic Group, self-represented in this transaction, acquiring the property from the Spohr Family Trust, which was represented by brokers from Lee & Associates. The transaction was completed on August 25, 2025, showcasing the ongoing activity in the real estate market of South Elgin.
Players
South Elgin 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93