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… Read More 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. Read Less
Courtesy of Coldwell Banker Commercial NRT 312-860-4043
Listing Snapshot
Days Online
151
Last Updated
Property Type
Unimproved Land
Lot Size
1.45 Acres
MLS Number
MRD12114223
30 Days Snapshot Of 60047
$624k
-5%
(avg) sold price
31
-34%
homes sold
21
+23%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
None
Lot
1.45 acres, Dimensions: 290X300X413X208.40
Property
Zoning: COMMR
Utilities
Utilities: "Electric to Site", "Gas to Site", "Sanitary Sewer", "Water-Municipal", "Water to Site"
Taxes
Annual Taxes: $15,946, Year: 2022
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