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Lennar CalAtlantic Group Purchases 84.38 Acres Of Land In South Elgin For $6.5 Million
SOLD
$6,500,000
Illinois
See Similar DealsLand
Sold 08/25/2025
SOLD
Lennar CalAtlantic Group Purchases 84.38 Acres Of Land In South Elgin For $6.5 Million
325 Umbdenstock Road
See Similar DealsLand
Sold 08/25/2025
Summary
ILLINOIS
Asset Type:Land
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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