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    The Largest CRE Database in the US with Over 1 Million Listings

    21 S Us Highway 12 Fox Lake, IL 60020

    Sponsored
    For Sale
    $429,900

    COMMERCIAL - Fox Lake, IL

    Lot size:
    0.34 Acres
    Days on Market:
    35
    Last Refresh:
    Feb 2 at 5:06 am

    Property Features for 21 S Us Highway 12

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    05092000340000
    Lot size
    0.34 Acres

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1976
    Floors in Building
    2
    Number of units
    4
    Building materials
    Vinyl Siding, Brick, Block
    Roof type
    Composition, Rubber

    We can help!

    Listing Contact
    Jack Fields

    Realty World Tiffany Real Estate (847) 395-1010

    Listing agent Jack Fields (847) 274-3958

    Listing date Dec 30, 2025

    MLS# 12390534

    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.

    Learn more

    Property Insight Report

    Overview

    Highway 12 Investment Opportunity

    This four-unit building presents an investment opportunity for investors or owner-occupants. The property is located on Highway 12 in Fox Lake and offers high visibility. The building includes two side-by-side commercial units on the main level, along with an efficiency apartment unit. One of the commercial units is currently leased to a barber who has been a tenant for four years and wishes to remain. The second commercial unit is vacant, has been remodeled, and is ready for lease or owner occupancy. This unit also has access to approximately 440 square feet of finished office or storage space in the basement. The efficiency apartment is located at the rear of the building on the main level and features a combined bedroom and kitchen area, along with a bathroom. The second floor contains a large living room open to the kitchen, two bedrooms, a full bathroom, and access to a rooftop patio. The full basement is clean and provides space for mechanicals and storage. The building has been well-maintained and sits on two lots totaling 0.34 acres, with parking available for around 25 cars. The current tenants are on month-to-month leases.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fox Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.1755
    Latitude
    42.3951

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    FAQs

    What type of property is this?
    Mixed-use property - Four-unit building on Highway 12 in Fox Lake.
    Where is this mixed-use property located?
    The property is located at 21 S Us Highway 12 Fox Lake, IL.
    What is the asking price?
    The asking price for this property is $429,900.
    What are key features of this property?
    This property features: - Four-unit building on Highway 12, ideal for investors or owner-occupants.; - Two commercial units: one leased to a long-term barber, the other recently remodeled and vacant.; - **The remodeled commercial unit features 440 sq ft of finished basement office/storage space.**
    (847) 274-3958
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    21 S Us Highway 12 Fox Lake, IL 60020
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    Fox Lake, IL 60020
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    21 S Us Highway 12 Fox Lake, IL 60020
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    We can help!
    Listing Contact
    Jack Fields
    Real Estate License ID: 475146944
    (847) 274-3958
    Learn more
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