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    14 Hwy & 20 St Mount Prospect, IL 60056

    Sponsored
    For Sale
    $499,000

    1.45 Acres, High Traffic Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.45-acre commercial land parcel presents a unique investment or development opportunity in the prestigious Barrington, Illinois area. Strategically located at the northwest corner of Route 14 (Northwest Highway) and 20th Street, this property boasts over 327 feet of frontage on Route 14, experiencing high daily traffic volume exceeding 27,900 vehicles. Its prime location is just one block northwest of the Barrington Foundry Retail Development, a thriving retail center exceeding 80,000 square feet. Nearby established businesses include Northern Trust Bank and Wickstrom Ford, underscoring the area's strong economic activity. The property is zoned for unincorporated Lake County and offers potential uses including restaurants, retail, medical facilities, offices, or residential development. The 2018 property taxes were $1,845. Within a 5-mile radius, the area boasts a substantial population of 76,284 with a median household income of $119,631 (2018 data). This property's high visibility, excellent location, and diverse development potential make it an attractive investment. The asking price is $439,000.

    Property Features for 14 Hwy & 20 St

    General Information

    Property type
    Land
    Lot Size
    63,162 SF

    HighLights

    • Price Reduction: Now $439,000
    • 1.45‑acre lot at the NW corner of Route 14 & 20th Street, Barrington, IL
    • Over 327 feet of frontage on Route 14 (Northwest Highway)
    • High traffic count: 27,900 vehicles per day
    • One block NW of the Barrington Foundry Retail Development
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Mount Prospect
    County
    Cook/Lake
    State
    Illinois
    Longitude
    -87.9367657
    Latitude
    42.0636388

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    FAQs

    What type of property is this?
    Land - 1.45 Acres, High Traffic Area
    Where is this land located?
    The property is located at 14 Hwy & 20 St Mount Prospect, IL.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Price Reduction: Now $439,000; 1.45-acre lot at the NW corner of Route 14 & 20th Street, Barrington, IL; Over 327 feet of frontage on Route 14 (Northwest Highway)
    Request Owner's contact information
    14 Hwy & 20 St Mount Prospect, IL 60056
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    Mount Prospect, IL 60056
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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
    14 Hwy & 20 St Mount Prospect, IL 60056
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