Property profile

0 Lake St Spring Bay, IL 61611

OFF-MARKET
Land
29 ac lot
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Property summary

AI-generated overview

This exceptional 29-acre property in Spring Bay, Illinois, presents a unique opportunity for redevelopment or personal use. Located on the Illinois River, this land boasts approximately 1,000 linear feet of street frontage and offers stunning waterfront access, including inlets, coves, and a protective land barrier. The property, comprised of eight parcels (APN: 07-02-405-001, 07-02-407-001,-004,-005,-006,-007,-010,-,012,-014), features a boat ramp suitable for small craft and approximately 5.25 acres of buildable land. Previously a thriving marina with boat storage and small houses, the land is now cleared and ready for development. Its location in the heart of Spring Bay offers a peaceful small-town atmosphere with abundant wildlife. The property's proximity to Sankoty Lakes Resort and the new Sheets Creek Restaurant adds to its appeal. The commercial zoning allows for diverse development options, focusing on watersports, marina/cove/beach interests, or other suitable ventures. Adjacent vacant lots are also available for purchase, presenting an opportunity to expand the property. This is an exceptional opportunity to acquire a significant piece of Illinois Riverfront property. The asking price is $150,000.

Property profile

Verified
Property type Land
Lot 29 ac (1,263,240 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Lake St Spring Bay, IL 61611
Spring Bay metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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