706 Burnett Rd Island Lake, IL 60042
- Live-work space
- 8,000 SF
- 19.00 lot acres
Current Use by Public Records
- Knight Printing & Litho Services / Commercial Printer / Professional Services
Property Details for 706 Burnett Rd
- Year built
- 1970
- Lot size
- 19.00 lot acres
- Property size
- 8,000 SF
- Property type
- Live-work space
- Property subtype
- Self storage facilities
Description
This exceptional 19-acre property in Island Lake, Illinois, presents a unique live/work opportunity. The $1,150,000 asking price reflects a compelling value proposition, especially considering the expansive land and diverse building inventory. The property features three buildings totaling 8,000 square feet, including a 4,147 square foot, three-to-four bedroom, three-bathroom hillside ranch home with a 2.5-car garage. A 3,000 square foot converted barn, previously used for commercial printing, offers significant adaptable space. Additionally, a 2,300 square foot frame storage building with four garage doors provides ample storage or workshop potential. The property sits on 19 acres zoned Office/Research/Industrial (ORI), with 10 acres currently farmed to minimize property taxes. City water access is available at the property line. The ORI zoning permits a range of uses, including horse boarding and riding facilities, and nursery/greenhouse operations with a special use permit. This versatile property is perfect for an owner-user seeking a blend of residential comfort and commercial functionality, offering significant potential for expansion and diverse income streams. The property's location in Lake County, Illinois, offers convenient access to major transportation routes and amenities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Island Lake
- County
- Lake
- State
- Illinois
- Longitude
- -88.1845215
- Latitude
- 42.2864657
