Commercially Zoned Residential
For Sale
$499,900
168 E Acre Court, Round Lake Beach, IL 60073
Commercial Sale, Round Lake Beach, IL
Property Size2,796 SF
Lot Size0.89 Acres
Price / SF$178.79
Days on Market30
Property Features for 168 E Acre Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Fireplace
1
Directions
Rte. 83, N2 Rollins, W2 Orchard, N2 Acre, W2 Home on right
Subdivision
Round Lake Beach / Round Lake / Round Lake Heights / Round Lake Park
Standard status
Active
APN
06161000150000
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7162
Utilities
Cooling system
Central Air
Amenities
fireplace
storage sheds
walkout basement
deck
Building Details
Year built
1947
Floors in Building
2
Number of units
1
Flooring type
Wood, Carpet
Building materials
Wood, Vinyl Siding
Roof type
Composition
Listing Agency:
Real Broker, LLC
(217) 960-8605
Listed By:
Robb Satten · License #475101369
(630) 439-6385
Added: Jul 27
Changed: Aug 20
Last Checked: Aug 25 at 4:06AM
MLS# 12717044
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercially zoned property features a 3-bedroom, 2-bath residential structure with a large living room with fireplace, dining area, open kitchen, and a first-floor primary bedroom. The home includes a walkout basement, a deck, and on-site storage sheds. Parking is supported by a 2-car garage plus exterior parking for 6+ vehicles, along with partial fencing.
The property is set on 0.89 acres and is zoned COMMR, which allows a variety of uses including general repair shop, professional office, engineering/architectural services, artist/industrial design studio, and floral shop, along with additional permitted categories. The listing notes village approval is required for business conversion. The site also has potential future access to public water/sewer through the planned Hook Drive extension, and it is described as minutes from village offices, a recreation center, the Post Office, retail and dining, and Metra.
With both living space and substantial exterior improvements already in place, the configuration can support an owner-occupied approach or redevelopment subject to applicable approvals.
The property is set on 0.89 acres and is zoned COMMR, which allows a variety of uses including general repair shop, professional office, engineering/architectural services, artist/industrial design studio, and floral shop, along with additional permitted categories. The listing notes village approval is required for business conversion. The site also has potential future access to public water/sewer through the planned Hook Drive extension, and it is described as minutes from village offices, a recreation center, the Post Office, retail and dining, and Metra.
With both living space and substantial exterior improvements already in place, the configuration can support an owner-occupied approach or redevelopment subject to applicable approvals.
Key Highlights
- 3BR/2BA home on commercially zoned land, built in 1947, with central air and a composition roof
- 1,848 SF main house plus 948 SF walkout basement, featuring a large living room with fireplace, dining area, and open kitchen
- First‑floor primary bedroom and a deck overlooking a lot over 3/4 acre with storage sheds and partial fencing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,508
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,160
$690.2K
Cap Rate 7%
$492,971
$493.0K
Cap Rate 9%
$383,422
$383.4K
Market Conditions
NOI Build-Up for 2,796 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.1K $24.00/SF
− Vacancy
−$4.4K −$1.56/SF
EGI
$62.7K $22.44/SF
− OpEx
−$28.2K −$10.10/SF
NOI
$34.5K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$690,160
Cap Rate 7%
$492,971
Cap Rate 9%
$383,422
Alternative Uses
Best Use
Apartment 5plus
$493.0K
$431.4K – $575.1K
NOI $34,508 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$965.3K
$844.7K – $1.13M
NOI $67,573 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 3BR/2BA home on 0.89 acres with a 2-car garage, deck, walkout basement, and parking for 6+ vehicles.
Where is this commercial land located?
The property is located at 168 E Acre Court Round Lake Beach, IL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3BR/2BA home on commercially zoned land, built in 1947, with central air and a composition roof; 1,848 SF main house plus 948 SF walkout basement, featuring a large living room with fireplace, dining area, and open kitchen; First‑floor primary bedroom and a deck overlooking a lot over 3/4 acre with storage sheds and partial fencing
