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    898 Rand Rd Lake Zurich, IL 60047

    Sponsored
    For Sale
    $1,500,000

    1.45-acre prime retail land, high traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 1.45-acre commercial property in Lake Zurich, IL, offers exceptional redevelopment potential. Located on S Rand Rd, this B-3 zoned lot boasts 290 feet of frontage and high visibility, situated in a thriving retail corridor with 37,274 vehicles passing daily. The property includes a 6,259 square foot mixed-use building featuring ten units (four 1-bedroom/1-bathroom, four studios, one 2-bedroom/1-bathroom, and one office), currently generating $100,800 in annual income. Ample parking is available with 14 spaces. The property's prime location near major retailers like Walmart, Costco, and Home Depot, along with other established businesses, ensures strong potential for future growth and increased rental yields. Utilities are readily available on-site, streamlining the development process. The property's APN is 1420404028 and is held in trust. This is a remarkable opportunity for investors seeking a high-traffic, high-growth location in a vibrant community. Asking price is $1,500,000.

    Property Features for 898 Rand Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    63,162 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • 1.45‑acre redevelopment opportunity.
    • B‑3 zoning.
    • Prime Lake Zurich location with high visibility.
    • Frontage on Rt. 12 within the Lake Zurich retail corridor.
    • 32,274 vehicles per day (VPD) traffic count.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Map

    City
    Lake Zurich
    County
    Lake
    State
    Illinois
    Longitude
    -88.08412199639
    Latitude
    42.182990927204

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    FAQs

    What type of property is this?
    Multifamily property - 1.45-acre prime retail land, high traffic
    Where is this multifamily property located?
    The property is located at 898 Rand Rd Lake Zurich, IL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 1.45-acre redevelopment opportunity.; B-3 zoning.; Prime Lake Zurich location with high visibility.
    Request Owner's contact information
    898 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

    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
    898 Rand Rd Lake Zurich, IL 60047
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