0 Lake St, Spring Bay, IL 61611
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.