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    511 Rockland Rd Lake Bluff, IL 60044

    Sponsored
    For Sale
    $1,975,000

    2.75-acre prime commercial/residential land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.75-acre site in Lake Bluff, IL, presents a rare redevelopment opportunity. Located at the northwest corner of Routes 41 and 176, this property boasts high traffic counts and proximity to thriving commercial areas, including a recently constructed Northwestern Medicine building and a retail center featuring Target and Chase Bank. The site encompasses multiple parcels with existing structures, including the Sunset Motel and several single-family homes, offering flexibility for various development scenarios. Currently zoned for commercial and residential use under Lake County, the property is also eligible for voluntary annexation into the Village of Lake Bluff, which is offering financial incentives. Public water and sewer are available. The Illinois Department of Transportation (IDOT) is planning interchange improvements at Routes 41 and 176 within the next five years, potentially enhancing the property's value further. This assemblage offers a unique chance to create a high-end commercial or mixed-use development in a prime North Shore location. The asking price is $1,975,000 for the Sunset Motel parcel

    Property Features for 511 Rockland Rd

    General Information

    Property type
    Land
    Lot Size
    119,790 SF

    HighLights

    • Rare North Shore commercial development opportunity with zoning entitlements available through Lake County or via voluntary annexation into Lake Bluff.
    • High traffic counts on Route 41 and Route 176.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Bluff
    County
    Lake
    State
    Illinois
    Longitude
    -87.871709865006
    Latitude
    42.279741788373

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    FAQs

    What type of property is this?
    Land - 2.75-acre prime commercial/residential land
    Where is this land located?
    The property is located at 511 Rockland Rd Lake Bluff, IL.
    What is the asking price?
    The asking price for this property is $1,975,000.
    What are key features of this property?
    This property features: Rare North Shore commercial development opportunity with zoning entitlements available through Lake County or via voluntary annexation into Lake Bluff.; High traffic counts on Route 41 and Route 176.;
    (847) 373-1766
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    511 Rockland Rd Lake Bluff, IL 60044
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    Lake Bluff, IL 60044
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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
    511 Rockland Rd Lake Bluff, IL 60044
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