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    OFF-MARKET
    Land

    0 Lake St, Spring Bay, IL 61611

    29 ac lot
    Property ID
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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