Commercially Zoned Residential
168 E Acre Court, Round Lake Beach, IL 60073
For Sale
$499,900
Commercial Sale, Round Lake Beach, IL
Property Size2,796 SF
Lot Size0.89 Acres
Price / SF$178.79
Days on Market106
Property Features for 168 E Acre Court
General Information
Property type
Property subtype
Zoning
Fireplace
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Amenities
fireplace
storage sheds
walkout basement
deck
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Real Broker, LLC
(217) 960-8605
Listed By:
Robb Satten · License #475101369
(630) 439-6385
Added: Jul 27
Changed: Oct 10
Last Checked: Nov 9 at 5:06AM
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.
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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 / Yr
$34,508
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
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
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 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
$762.4K
$667.1K – $889.5K
NOI $53,369 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
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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
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Market
Properties on Market for Commercial land in Lake County
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
