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$ 779,985
Est. payment /mo
Active
3 S Old Rand Road Lake Zurich, IL 60047
6,685 SqFt
UPDATED:
11/03/2024 07:05 PM
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 6,685 sqft
Price per Sqft $116
MLS Listing ID 12006867
Year Built 1967
Annual Tax Amount $14,423
Tax Year 2022
Lot Dimensions .25
Property Description
ATTENTION ALL INVESTORS OR SMALL BUSINESS OWNERS! Welcome to 3 S Old Rand Rd, a lucrative mixed-use development opportunity perfectly suited for investors and small business owners looking to make their mark in Downtown Lake Zurich, IL. With the current B-2 zoning this property offers opportunities whether you envision a cozy cafe, boutique retail shop, or professional office space, the possibilities are endless. Conveniently located in a thriving community, this property enjoys proximity to various amenities and attractions. The first floor offers 4,149 SF retail or office space which is currently a retail music store on a month to month lease and could vacate within 60 days or sign a short term lease. The building offers a 840 SF basement currently being used as storage for the first floor retail space. Upstairs, discover an additional approximately 1,200 rentable square feet of apartment living divided into 2-studio apartments and 2-(1)one-bedroom/(1)one bathroom apartments. Enhanced by a beautiful deck upstairs, providing versatile outdoor space ideal for various businesses to utilize and enhance customer experience. Currently only two out of the four units are operating as Airbnb units, generating steady additional income with potential for more. Investors can also take advantage of this strong rental market and generate steady income by renting the four apartment units on the second floor.
Location
State IL
County Lake
Zoning RTAIL
Interior
Cooling Central Air
Flooring Carpet
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Water-Municipal, Water to Site
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Paul Proano • Coldwell Banker Commercial NRT