Lennar Homes Acquires Algonquin, IL Land For $2.4M With Buyer's Rep Larry Dickstein & Seller's Rep Ed Hall
$2,400,000
Building Size
—
Asset Type
Land
Closing
Sep 1, 2022
About this deal
AI
A land in Algonquin, IL has recently been sold for $2,400,000. The property has a building square footage (BSF) of 2,600,532 and a price per building square footage (PPBSF) of $0.9. The transaction took place between the buyer, Lennar Homes, and the seller, Estate of Domenico Sangriorgio.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,400,000
- BSF: 2,600,532
- PPBSF: $0.9
The buyer's representative in this deal was Larry Dickstein from Land Partners, LLC, a leading real estate brokerage company specializing in identifying and securing development opportunities for home builders and developers in the Chicago land area. On the other hand, the seller was represented by Ed Hall from Baird & Warner.
Note: Land Partners, LLC had identified this site before it was listed for sale. The site was chosen because of its favorable location, proximity to excellent schools, and a strong submarket.
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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93