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    23403 Il-120 Round Lake, IL 60073

    Sponsored
    For Sale
    $795,000

    4-Acre Development Opportunity in IL

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional 4-acre commercial parcel, located at 23403 IL-120 in Round Lake, Illinois (zip code 60073), presents a unique investment opportunity. Zoned C-2 PUD, this property offers a multitude of development possibilities. Its prime location at the entrance of Madrona Village ensures high visibility and accessibility. Ideal uses include restaurants, retail establishments, entertainment venues, industrial facilities, and senior housing (independent living and/or assisted living). The land is priced at $795,000, translating to $4.63 per square foot. Utilities are readily available, and off-site storm water management is anticipated. This ready-to-develop site in Lake County provides an excellent chance to capitalize on a thriving market. The property's versatility and strategic location make it an attractive prospect for developers seeking a high-impact project. Don't miss this chance to acquire a significant commercial land holding in a desirable area. Contact us today to learn more about this exceptional opportunity.

    Property Features for 23403 Il-120

    General Information

    Property type
    Land
    Lot Size
    174,240 SF

    HighLights

    • 4‑acre commercial parcel zoned C‑2 PUD, ideally situated at the entrance to Madrona Village.
    • Suitable for various uses including restaurant, retail, entertainment, industrial, and senior housing (independent and/or assisted living).
    • Development‑ready with readily available utilities and likely off‑site stormwater management.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Round Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.090690391525
    Latitude
    42.340263545297

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Land - 4-Acre Development Opportunity in IL
    Where is this land located?
    The property is located at 23403 Il-120 Round Lake, IL.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: 4-acre commercial parcel zoned C-2 PUD, ideally situated at the entrance to Madrona Village.; Suitable for various uses including restaurant, retail, entertainment, industrial, and senior housing (independent and/or assisted living).; Development-ready with readily available utilities and likely off-site stormwater management.
    Request Owner's contact information
    23403 Il-120 Round Lake, IL 60073
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    Round Lake, IL 60073
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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
    23403 Il-120 Round Lake, IL 60073
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