3880 Salem Lk Dr Lake Zurich, IL 60047
- Retail properties
- 24,095 SF
- 7.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3880 Salem Lk Dr
- Lot size
- 7.00 lot acres
- Property size
- 24,095 SF
- Property type
- Retail properties
Description
This exceptional owner-user or value-add investment opportunity presents a 24,095-square-foot retail building situated on a 7-acre lot in the desirable Lake Zurich, Illinois market (Long Grove, zip code 60047). The property, known as the Landmark Corporate Center, boasts a strong 4.72% capitalization rate and a substantial net operating income (NOI) of $117,985, with an asking price of $1,800,000. The building features ample parking, is ADA compliant with an elevator, and includes desirable amenities such as a gym, sauna, locker rooms, a meeting room, and shared kitchenettes and lunch rooms on each floor. Utilities—including air conditioning, heat, and electricity—are included. The property is zoned B, offering significant potential for future development, as another building could be constructed on the site. The land value is $104 per square foot. This is a gross lease property. The property's address is 3880 Salem Lake Dr, Long Grove, IL 60047. The APN is 14234010330000. This presents a rare chance to acquire a well-maintained, amenity-rich retail space with considerable upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Zurich
- County
- Lake
- State
- Illinois
- Longitude
- -88.0301
- Latitude
- 42.1935
