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    706 Burnett Rd Island Lake, IL 60042

    Sponsored
    For Sale
    $1,150,000

    19-acre estate, 8,000 sq ft, ideal live/work

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 19-acre property in Island Lake, Illinois, presents a unique live/work opportunity. The $1,150,000 asking price reflects a compelling value proposition, especially considering the expansive land and diverse building inventory. The property features three buildings totaling 8,000 square feet, including a 4,147 square foot, three-to-four bedroom, three-bathroom hillside ranch home with a 2.5-car garage. A 3,000 square foot converted barn, previously used for commercial printing, offers significant adaptable space. Additionally, a 2,300 square foot frame storage building with four garage doors provides ample storage or workshop potential. The property sits on 19 acres zoned Office/Research/Industrial (ORI), with 10 acres currently farmed to minimize property taxes. City water access is available at the property line. The ORI zoning permits a range of uses, including horse boarding and riding facilities, and nursery/greenhouse operations with a special use permit. This versatile property is perfect for an owner-user seeking a blend of residential comfort and commercial functionality, offering significant potential for expansion and diverse income streams. The property's location in Lake County, Illinois, offers convenient access to major transportation routes and amenities.

    Property Features for 706 Burnett Rd

    General Information

    Property type
    Live-work space
    Square Feet
    8,000 SF
    Lot Size
    827,640 SF

    Building Details

    Year Built
    1970
    Buildings
    3
    Property Profile Location Intelligence

    Current Use by Public Records

    Knight Printing & Litho ... Commercial Printer

    Suggested Use

    Realty agency Spa & Massage Wholesale Shop Auto Repair Shop Auto Parts Store HVAC Service Daycare Center Barber Shop Laundry Service Dry Cleaner

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

    Location Insight

    • Map
    • Local Demand
    City
    Island Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.1845215
    Latitude
    42.2864657

    Nearby Comparable

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      Ranch Townhome Backing Nature

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    Nearby Similar for Sale

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      Island Lake Commercial Land For Sale

      Commercial land for sale with frontage on high-traffic Route 176.
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    • $289,900

      Ranch Townhome Backing Nature

      End unit townhome with finished basement, backing to nature preserve.
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      View Details

    FAQs

    What type of property is this?
    Live-work space - 19-acre estate, 8,000 sq ft, ideal live/work
    Where is this live-work space located?
    The property is located at 706 Burnett Rd Island Lake, IL.
    What is the asking price?
    The asking price for this property is $1,150,000.
    Request Owner's contact information
    706 Burnett Rd Island Lake, IL 60042
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    Island Lake, IL 60042
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    Realmo Value Estimation

    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.

    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.

    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
    706 Burnett Rd Island Lake, IL 60042
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