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898 S Rand Rd Lake Zurich, IL 60047

For Sale
$1,400,000

Mixed-use property in high-traffic area with redevelopment potential.

Lot size:
1.45 Acres

Property Features for 898 S Rand Rd

General Information

Standard status
Active
Lot size
1.45 Acres

Building Details

Year built
1950

Source: COLDWELL BANKER COMMERCIAL NRT Agent PAUL PROANO

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Lake Zurich Mixed-Use Redevelopment

Located in Lake Zurich, this 1.45-acre property presents a multi-family and redevelopment opportunity. The site features a 6,259-square-foot mixed-use building with 124 feet of frontage on Route 12, which sees over 37,000 vehicles daily. The existing structure is almost fully occupied and includes four 1-bedroom/1-bath units, four studio units, one 2-bedroom/1-bath unit, and one office unit. These units generate $100,800 in annual rental income. Zoned B-3 (Regional Shopping District), the site allows for commercial or mixed-use development options, including continued residential use, retail, or office expansion. Approximately one acre of the land is undeveloped, creating the opportunity to construct an additional building. Full on-site utilities are in place. The property is located within Lake Zurich's primary retail corridor, surrounded by national retailers including Walmart, Costco, Home Depot, ALDI, Binny's, Starbucks, and the Lake Zurich DMV. The area within a one-mile radius has over 9,100 residents.
Location Intelligence

Current Use by Public Records

Mixed-use properties

Map

City
Lake Zurich
County
Cook
State
Illinois
Longitude
-88.0504
Latitude
42.201

FAQs

What type of property is this?
Mixed-use property - Mixed-use property in high-traffic area with redevelopment potential.
Where is this mixed-use property located?
The property is located at 898 S Rand Rd Lake Zurich, IL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: - High-traffic location on Route 12 with 37,000+ vehicles passing daily; - Existing mixed-use building generating $100,800 in annual rental income; - B-3 zoning allows for flexible commercial or mixed-use development
More about this property
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