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    8 Skokie Hwy Lake Bluff, IL 60044

    Sponsored
    For Sale
    $1,900,000

    Prime Lake County commercial land, vacant office building.

    Property size:
    250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents a 0.33-acre parcel in Lake Bluff, IL, encompassing a vacant, two-story, 6,632 sq ft office building at 8 N Skokie Hwy. Built in 1975 and renovated in 2015, the Class B building features 12 units and 25 parking spaces. The property boasts a desirable location in a thriving commercial corridor, benefiting from proximity to major employers like Abbott Labs and recent developments including a new Target, Chase Bank, and retail strip malls. Across the street sits a newly constructed Northwestern Medicine building. The property is zoned COMMR, offering flexibility for various uses, including retail, medical, or multi-family. The land itself is the primary asset, with a price per square foot of $132.50, reflecting the significant redevelopment potential. The asking price is $1,900,000. This is part of a larger, eight-parcel assembly totaling 2.75 acres, presenting further expansion possibilities. The seller is open to the buyer voluntarily annexing into the Village of Lake Bluff, which may offer financial incentives. This is a rare chance to acquire a strategically located property with substantial upside in a high-demand area. The property was previously sold in May 2020 for $3,700,000 for a 41,040 sq ft parcel. This sale comparable sold for $90.16 per sq ft.

    Property Features for 8 Skokie Hwy

    General Information

    Property type
    Medical offices
    Square Feet
    250 SF
    Class
    B
    Lot Size
    14,375 SF

    Building Details

    Year Built/Renovated
    1975/2015
    Buildings
    1
    Stories
    2
    Units
    12

    HighLights

    • Fire suppression system installed.
    • 14,306 square foot lot.
    • 109 x 130 foot lot dimensions.
    • Frontage on State Road.
    • Suitable for commercial, multi‑family, retail, or special use development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    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
    -87.8710004
    Latitude
    42.2802614

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    FAQs

    What type of property is this?
    Medical office - Prime Lake County commercial land, vacant office building.
    Where is this medical office located?
    The property is located at 8 Skokie Hwy Lake Bluff, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Fire suppression system installed.; 14,306 square foot lot.; 109 x 130 foot lot dimensions.
    Request Owner's contact information
    8 Skokie Hwy 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
    8 Skokie Hwy Lake Bluff, IL 60044
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