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    41 Rand Rd Lake Zurich, IL 60047

    • Commercial real estate
    • 5.69 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimation
    $4,640,000
    Last Sale
    Jul 22, 2022
    $4,550,000
    Location Intelligence
    Property ID
    US28-2175153
    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 41 Rand Rd

    Lot size
    5.69 lot acres
    Property type
    Commercial real estate
    APN
    14-19-104-001
    APU
    1419104001

    Description

    Lakeview Plaza, a thriving retail center in Lake Zurich, IL, offers a 1,260 sq ft space for lease. This established property, located at 41 S Rand Rd (cross street: Honey Lake Rd), boasts a total of 52,400 sq ft across two single-story buildings on a 5.69-acre lot (APN: 1419104001). Built in 1988 and zoned B-3 | Regional Shopping, the plaza enjoys a high-traffic location on S Rand Road, with 35,000 vehicles passing daily. The property benefits from its proximity to Paulus Park and major retailers like Jewel-Osco, Target, and Costco, ensuring strong visibility and customer draw. Lakeview Plaza features a diverse tenant mix including NAPA Auto Parts, Kitchen Discounters of America, Gravitea Boba, All Ways Healthy Natural Food, First American Bank, and Bellalukes. This presents a unique opportunity to join a successful and established retail community in the Central North-West submarket (Deer Park, Lake Barrington, Long Grove, Hawthorn Woods) of Lake County. The property's location offers excellent access to surrounding neighborhoods. This space is perfect for a professional or boutique business seeking high visibility and a strong customer base. The property is situated in the desirable Lake Zurich, IL (zip code 60047) market.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $4,835,000

    • CAP approach

      CAP return
      Estimation
      6%
      $4,370,000
      6.5%
      $4,675,000
      7%
      $4,725,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $4,050,000
      Geo Method
      $3,865,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $4,360,000
      Retail
      $3,815,000
      Mixed-Use
      $4,345,000
      Hospitality
      $4,560,000
      Educational
      $3,770,000
      Residential Income
      $5,085,000
      Energy
      $5,025,000
      Income-Based Land
      $3,825,000
      Food Service
      $4,725,000

    Location Insight

    • Map
    • Local Demand
    City
    Lake Zurich
    County
    Lake
    State
    Illinois
    Longitude
    -88.1119
    Latitude
    42.1963
    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
    $104,030
    $943,702
    $402,684
    $1,346,386
    -
    $2,831,389
    $1,208,173
    $4,039,562

    Comparable in this City

    • Value Estimation by Request
      10.32 Acres

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      4700 Royal Melbourne Dr, Long Grove, IL 60047-5217
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      0.20 Acres

      61 Old Rand Rd

      COMMERCIAL (GENERAL) • 0.20 Acres
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    • Value Estimation by Request
      0.26 Acres

      437 Robert Parker Coffin Rd

      COMMERCIAL (GENERAL) • 0.26 Acres
      437 Robert Parker Coffin Rd, Long Grove, IL 60047-9611
      View Details
    • Value Estimation by Request
      0.18 Acres

      950 Il Rte 22nd Ste, Unit 105

      COMMERCIAL (GENERAL) • 0.18 Acres
      950 Il Rte 22nd Ste, Lake Zurich, IL 60047-3419
      View Details

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    41 Rand Rd
    Lake Zurich, IL 60047
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    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
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