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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

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    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
    (312) 860-4043
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    898 S Rand Rd Lake Zurich, IL 60047
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    Lake Zurich, IL 60047
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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

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    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
    898 S Rand Rd Lake Zurich, IL 60047
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