1116-1122 Diamond Lk Rd Mundelein, IL 60060
- Retail properties
- 4,275 SF
- 1.05 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1116-1122 Diamond Lk Rd
- Lot size
- 1.05 lot acres
- Property size
- 4,275 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a unique blend of commercial and residential properties ideally situated in Mundelein, Illinois. Located at 1116-1122 North Diamond Lake Road, this property boasts a prime location adjacent to Diamond Lake Beach and a village park, offering high visibility and convenient access just off Route 83. The main attraction is a fully equipped, currently active restaurant with a long-standing history in the community (over 40 years), offering significant upside potential through extended operating hours and participation in local events. The sale includes all furniture, fixtures, and equipment (FF&E). A transferable gaming and liquor license is available (subject to background check and no name change). Adding to the investment appeal, the property also includes a fully leased convenience store and two residential units. The total square footage ranges from 4,275 to 8,600 square feet, spread across two units, on a 1.05-acre lot zoned L-MU (Lakefront - Mixed Use). Ample off-street parking and a storage shed are included. The asking price is $1,550,000, translating to a price per square foot of $120.39. This multifaceted property offers a compelling combination of established income streams and significant growth opportunities for a discerning buyer. The property's location, existing business operations, and included residential units make this a truly rare and attractive investment opportunity in the thriving Mundelein market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mundelein
- County
- Lake
- State
- Illinois
- Longitude
- -88.0033
- Latitude
- 42.2475
