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Lennar Homes Acquires Algonquin, IL Land For $2.4M With Buyer's Rep Larry Dickstein & Seller's Rep Ed Hall

Property Image
SOLD
$2,400,000
Larry Dickstein
Ed Hall

Illinois

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Land
Sold 09/01/2022
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Property Image
SOLD

Lennar Homes Acquires Algonquin, IL Land For $2.4M With Buyer's Rep Larry Dickstein & Seller's Rep Ed Hall

Land
Sold 09/01/2022
Larry Dickstein
Ed Hall
the dealplayerscompscontact
Contact now

Summary

Asset Type:Land
Transaction Type:Sale

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.

Players

Larry Dickstein
Larry Dickstein
2 deals$4.4M volume(847) 334-8000
BROKER
Ed Hall
Baird & Warner
Ed Hall
1 deal$2.4M volume(630) 205-4700
BROKER
Lennar
Lennar
BUYER
Lennar
Lennar
LENDER

Details

SOLD
IMAGE: Ed Hall & Larry Dickstein DATE: 09/01/2022 MARKET: Algonquin, IL ASSET TYPE: Land BUYER: Lennar Homes (@LennarHomes) SELLER: Estate of Domenico Sangriorgio BUYER'S REP: Larry Dickstein (@LedBroker)- Land Partners, LLC SELLER'S REP: Ed Hall - Baird & Warner (@BairdWarner) SALE PRICE: $2,400,000 BSF: 2,600,532 ~ PPBSF: $0.9 NOTE FROM BROKERS: Land Partners, LLC is the foremost real estate brokerage company that helps identify and secure development opportunities for home builders and other developers throughout the Chicago land area. Land Partners, LLC identified this site before it became listed for sale. This site meets all the criteria which includes location, great schools, and a very healthy submarket

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
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