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Andover Crystal Lake LLC Purchases 10 Acres Of Land In Crystal Lake For $1.1M

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SOLD
$1,100,000

Illinois

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Land
Sold 01/29/2025
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Property Image
SOLD

Andover Crystal Lake LLC Purchases 10 Acres Of Land In Crystal Lake For $1.1M

4202 Three Oaks Road

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Land
Sold 01/29/2025
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Summary

ILLINOIS
Asset Type:Land
Transaction Type:Sale

The transaction involves the sale of a 10-acre parcel of vacant land located at 4202 Three Oaks Road in the Crystal Lake market. The property was sold for $1,100,000 to Andover Crystal Lake LLC, facilitating an expansion of Oakbrook Estates, a retirement community. The land has been annexed into the city and is rezoned for residential use to meet the local demand for more affordable housing.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $1,100,000
  • Buyer: Andover Crystal Lake LLC
  • Seller: Vistas Crystal Lake LLC
  • Broker: Brian Bocci - Entre Commercial Realty
  • Acres: 10
  • Date of Sale: 01/29/2025

Brian Bocci from Entre Commercial Realty represented the broker in this transaction. The acquisition of the land is strategically aimed at supporting the growth of a retirement community, underscoring the importance of addressing housing needs in the area.

Players

Brian Bocci
Entre Commercial Realty
Brian Bocci
6 deals$1.1M volume(847) 989-4485
BROKER

Details

SOLD
IMAGE: Brian Bocci DATE: 01/29/2025 ADDRESS: 4202 Three Oaks Road MARKET: Crystal Lake ASSET TYPE: Land ~ ACRES: 10 BUYER: Andover Crystal Lake LLC SELLER: Vistas Crystal Lake LLC BROKER: Brian Bocci - Entre Commercial Realty (@EntreCommercialRealty) SALE PRICE: $1,100,000 NOTE: Vacant land in Crystal Lake was sold for $1.1 million to support an expansion of Oakbrook Estates, a retirement community. The 10-acre property was annexed into the city, rezoned for residential use, and will address the area's demand for more affordable housing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$58,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73