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$ 1,500,000
Est. payment /mo
Active
898 S Rand Road Lake Zurich, IL 60047
1.45 Acres Lot
UPDATED:
11/03/2024 07:04 PM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12114223
Annual Tax Amount $15,946
Tax Year 2022
Lot Size 1.450 Acres
Lot Dimensions 290X300X413X208.40
Property Description
Introducing an unparalleled opportunity for visionary developers: Paul Proano Properties proudly presents an exclusive prime land development prospect in the heart of Lake Zurich. Nestled on 1.45 acres, this site features a 6,259 square foot mixed-use 10-unit building currently generating $100,800 annually, poised for increased rental yields. The unit mix is (4) 1Bd/1Bath units, (4) studio units, (1) 2Bd/1Bath unit and (1) office unit. Being zoned B-3 for regional shopping, the location offers exceptional redevelopment potential. Boasting 290 feet of frontage and comprehensive on-site utilities, this property ensures streamlined development. Lake Zurich, a vibrant community of 19,624 residents, provides an ideal backdrop for capitalizing on a prominent, high-traffic locale. Strategically positioned off Route 12 with 37,274 vehicles passing daily, it neighbors major retailers such as Walmart, Costco, and Home Depot. Adjacent to a bustling retail strip featuring Lake Zurich DMV, Binny's, Tropical Smoothie, and Duck Donuts, and with ongoing commercial developments nearby, this site promises to be a cornerstone of the area's growth.
Location
State IL
County Lake
Zoning COMMR
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal, Water to Site
View Y/N true
Schools
School District 95, 95, 95
Others
Ownership Fee Simple
Special Listing Condition None
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Paul Proano • Coldwell Banker Commercial NRT