On November 14, 2007, at 1158 central standard time, a Czech Aircraft Works Sport Cruiser, N947DM, collided with the runway following a loss of control on takeoff from the Waukegan Municipal Airport, Waukegan, Illinois. The pilot was not injured. The airplane was substantially damaged. The 14 CFR Part 91 personal flight was operating in visual meteorological conditions without a flight plan. The flight was originating at the time of the accident. The pilot taxied the airplane to the end of runway 23 (6,000 feet by 150 feet, concrete) where he performed an engine run-up. Upon takeoff the airplane began drifting to the right. The pilot applied left aileron and rudder, and the airplane started "banking hard right." He then applied full throttle and full left aileron, but the right bank angle kept increasing. The pilot reported he kept the nose of the airplane up by applying left rudder, but the airplane continued to lose altitude. The right wing then contacted the runway and the airplane came to rest after having completed a 360 degree turn. The pilot reported that prior to the flight he was working on the airplane and had used a magnetic block to magnetize a screwdriver. When finished, he set the block on the copilot seat and forgot about it. Following the accident the magnetic block was found lodged between the control stick and its mounting. The local winds were reported as being variable from 240 degrees to 310 degrees with gusts to 21 knots. The pilot reported the windsock showed the winds were from 270 degrees when he initiated his takeoff.