24659 Grass Lake RdAntioch, IL 60002

Property Details for 24659 Grass Lake Rd

Year built

1981

Construction

FRAME

Lot size

0.59 AC

Property size (Sq ft)

4,630 SF

Property type

Retail properties

Property subtype

Banks

APN

02-19-300-043

APU

219300043

Description

This exceptional 4,144 square foot single-story office building presents a unique investment opportunity in Antioch, Illinois. Situated on a substantial 10-acre lot at the corner of Fox Lake Road and County A10, this property boasts high visibility and excellent car traffic. The building, constructed in 1981, features 20 parking spaces and is zoned R-3, offering considerable flexibility for future development. Previously occupied by First Midwestern Bank, the building includes a convenient drive-through. Its prime location offers easy access to prominent retailers and restaurants, and its proximity to a golf course and fire department adds to its appeal. The expansive acreage provides significant potential for expansion into commercial, retail, or other development ventures. This property is ideally located in a densely populated area near the Wisconsin border, ensuring a strong potential for tenant occupancy and future growth. The single-tenant occupancy provides a stable foundation for immediate income generation, while the substantial land area offers significant upside potential for future development and expansion. This is a rare opportunity to acquire a well-located, versatile property with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,228,922

  6.5%

  $1,134,390

  7%

  $1,053,362

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,184,532

  Geo Method

  $1,519,705

• Alternative Use

  Use

  Valuation

  Residential

  $956,900

  Hospitality

  $876,515

  Educational

  $729,250

  Medical

  $754,331

  Retail

  $1,134,390

Location Insight

City

Antioch

County

Lake

State

Illinois

Latitude

42.4478

Longitude

-88.1118

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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