Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1501 Lake St Mundelein, IL 60060

    • Commercial real estate
    • 14.50 lot acres
    For Lease
    View listing
    Value Estimation
    $12,585,000
    Last Sale
    Mar 23, 2022
    $12,100,000
    Location Intelligence
    Property ID
    US28-0715563
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1501 Lake St

    Lot size
    14.50 lot acres
    Property type
    Commercial real estate
    APN
    11-31-403-001
    APU
    1131403001

    Description

    Townline Square offers exceptional retail and restaurant opportunities in Mundelein, IL. This grocery-anchored center boasts 143,424 square feet, with 27,953 square feet currently available for lease in multiple spaces ranging from 1,050 to 21,000 contiguous square feet. Located at the heavily trafficked intersection of Lake Street and Townline Road, the property benefits from over 47,000 vehicles per day. The center features a strong tenant mix, including Jewel-Osco, LA Fitness, Dollar Tree, Chipotle, Panera Bread, and O'Reilly Auto Parts, among others. Ample parking is provided with 414 surface-level spaces, and dual-sided monument signage ensures high visibility. The property's strategic location, just two miles west of Hawthorn Mall, places it within a thriving retail corridor featuring numerous national retailers such as Target, Walmart, Best Buy, and many more. Built in 1976, this Lake County property presents a unique chance to establish a presence in a high-traffic, well-established shopping center. The property is ideal for a variety of restaurant and retail concepts seeking a prime location with strong co-tenancy and excellent visibility. The minimum leasable space is 1,050 square feet.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $12,860,000

    • CAP approach

      CAP return
      Estimation
      6%
      $12,300,000
      6.5%
      $11,105,000
      7%
      $12,200,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $10,050,000
      Geo Method
      $11,410,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $11,830,000
      Retail
      $11,925,000
      Mixed-Use
      $14,240,000
      Hospitality
      $14,420,000
      Educational
      $10,730,000
      Residential Income
      $13,890,000
      Energy
      $12,490,000
      Income-Based Land
      $13,205,000
      Food Service
      $12,070,000

    Location Insight

    • Map
    • Local Demand
    City
    Mundelein
    County
    Lake
    State
    Illinois
    Longitude
    -87.9917
    Latitude
    42.2406
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $359,581
    $1,903,444
    $1,600,750
    $3,504,194
    -
    $5,710,903
    $4,802,730
    $10,513,633

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      350 Townline Rd

      Shopping centers • 40,000 SF
      350 Townline Rd, Mundelein, IL 60060
      View Details
    • Value Estimation by Request

      706 Hawley St

      COMMERCIAL (GENERAL)
      706 Hawley St, Mundelein, IL 60060-1946
      View Details
    • Value Estimation by Request
      0.02 Acres

      169 Archer Ave

      COMMERCIAL (GENERAL) • 0.02 Acres
      169 Archer Ave, Mundelein, IL 60060-2301
      View Details
    • Value Estimation by Request
      0.02 Acres

      23350 Il Rte 176

      COMMERCIAL (GENERAL) • 0.02 Acres
      23350 Il Rte 176, Mundelein, IL 60060-9523
      View Details
    • Value Estimation by Request

      511 Hawley St

      COMMERCIAL (GENERAL)
      511 Hawley St, Mundelein, IL 60060-2419
      View Details
    • Value Estimation by Request

      Mundelein, IL 60060

      COMMERCIAL (GENERAL)
      Mundelein, IL 60060
      View Details

    Similar Nearby for Sale

    • $800,000
      3,503 SF

      Prime Mundelein Restaurant & Land

      Established Eatery, High Traffic Area
      799 Us Hwy 45 Hwy, Mundelein, IL 60060
      View Details
    • $300,000
      5,500 SF

      Downtown Mundelein Commercial Property

      Prime Double Storefront, High Traffic Area
      516 Seymour Ave, Mundelein, IL 60060
      View Details
    • $399,000
      1.88 Acres

      Mundelein Commercial Land

      1.88 Acres, C-2 Zoning, Prime Location
      1290 Butterfield Rd, Mundelein, IL 60060
      View Details
    • $285,000
      2.53 Acres

      Land Parcel in Mundelein, IL

      Expansive land parcel for custom home or other opportunities.
      26668 N Middleton Pkwy, Mundelein, IL 60060
      View Details
    • $249,000
      1.65 Acres

      Mundelein Land Ready to Build

      Over 1.6 acres improved lot ready to build dream home.
      19925 W Il Rte 60 Rd, Mundelein, IL 60060
      View Details
    • $399,000
      5.89 Acres

      Mundelein Land Opportunity

      5.89 acres to build your dream home!
      26220 N Midlothian Rd, Mundelein, IL 60060
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      48,005 SF

      Mundelein Industrial Space Available

      Industrial space for rent in established Mundelein park.
      933 Tower Rd, Mundelein, IL 60060
      View Details
    • $8 SF/Yr
      22,400 SF

      Mundelein Multi-Tenant Warehouse Facility

      Well-maintained multi-tenant facility, 10 minutes from I-94.
      Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • Contact for pricing

      Mundelein Office Space For Rent

      Office space available in Mundelein with high visibility.
      500 N Lake St, Mundelein, IL 60060
      View Details
    • $5,396 /Mo
      5,887 SF

      Mundelein Flex Space Available

      Flex space in a well-maintained brick building with I-94 access.
      1023-1061 E High St, Mundelein, IL 60060
      View Details
    • $1,895 /Mo
      51,596 SF

      Mundelein Warehouse Space Available

      Industrial warehouse space available for lease in Mundelein, Illinois.
      1023-1069 High St, Mundelein, IL 60060
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1501 Lake St
    Mundelein, IL 60060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.