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    23379 Il-60 Round Lake, IL 60073

    Sponsored
    For Sale
    $1,600,000

    Exceptional development opportunity in Illinois.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 20-acre parcel, located at 23379 W. State Rt 60 in Round Lake, Illinois (zip code 60073), presents a unique investment opportunity. Currently zoned C-3, this property offers flexible development options, making it ideal for a variety of uses. The land is divisible, allowing for tailored projects to suit specific needs. The asking price is $1,600,000, translating to $80,000 per acre, reflecting the significant development potential in this rapidly growing area of Lake County. The property's current agricultural designation results in low Lake County real estate taxes, further enhancing its investment appeal. Financing options are available to qualified buyers. Potential uses include, but are not limited to, commercial development (such as grocery stores or self-storage facilities), townhomes, or a senior living community. This prime location offers outstanding development potential along a path of growth, making it an attractive proposition for discerning investors seeking a high-return opportunity in a desirable Illinois market. The property's latitude and longitude coordinates are 42.3612999 and -88.0899304 respectively. Serious inquiries are encouraged.

    Property Features for 23379 Il-60

    General Information

    Property type
    Land
    Lot Size
    871,200 SF

    HighLights

    • 20‑acre parcel in Round Lake, IL (60073) at 23379 W. State Rt 60.
    • C‑3 zoning allows flexible development options.
    • Divisible land for tailored projects.
    • Asking price: $1,600,000 ($80,000/acre).
    • Low Lake County property taxes due to agricultural designation.
    • Financing available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Round Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.0899304
    Latitude
    42.3612999

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    FAQs

    What type of property is this?
    Land - Exceptional development opportunity in Illinois.
    Where is this land located?
    The property is located at 23379 Il-60 Round Lake, IL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 20-acre parcel in Round Lake, IL (60073) at 23379 W. State Rt 60.; C-3 zoning allows flexible development options.; Divisible land for tailored projects.
    Request Owner's contact information
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    Round Lake, IL 60073
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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
    23379 Il-60 Round Lake, IL 60073
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