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    Property profile & analytics

    898 Rand Rd Lake Zurich, IL 60047

    • Commercial real estate
    • 1.43 lot acres
    For Sale
    View listing
    $1,500,000
    Value Estimation
    Location Intelligence
    Property ID
    US28-3371318
    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 898 Rand Rd

    Lot size
    1.43 lot acres
    Property type
    Commercial real estate
    APN
    14-20-404-028
    APU
    1420404028

    Description

    This 1.45-acre commercial property in Lake Zurich, IL, offers exceptional redevelopment potential. Located on S Rand Rd, this B-3 zoned lot boasts 290 feet of frontage and high visibility, situated in a thriving retail corridor with 37,274 vehicles passing daily. The property includes a 6,259 square foot mixed-use building featuring ten units (four 1-bedroom/1-bathroom, four studios, one 2-bedroom/1-bathroom, and one office), currently generating $100,800 in annual income. Ample parking is available with 14 spaces. The property's prime location near major retailers like Walmart, Costco, and Home Depot, along with other established businesses, ensures strong potential for future growth and increased rental yields. Utilities are readily available on-site, streamlining the development process. The property's APN is 1420404028 and is held in trust. This is a remarkable opportunity for investors seeking a high-traffic, high-growth location in a vibrant community. Asking price is $1,500,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $330,000

    • CAP approach

      CAP return
      Estimation
      6%
      $415,000
      6.5%
      $405,000
      7%
      $405,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $415,000
      Geo Method
      $415,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $410,000
      Retail
      $390,000
      Mixed-Use
      $440,000
      Hospitality
      $465,000
      Educational
      $480,000
      Residential Income
      $400,000
      Energy
      $470,000
      Income-Based Land
      $420,000
      Food Service
      $425,000

    Location Insight

    • Map
    • Local Demand
    City
    Lake Zurich
    County
    Lake
    State
    Illinois
    Longitude
    -88.0838
    Latitude
    42.1834
    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
    $15,944
    $74,601
    $131,775
    $206,376
    -
    $223,825
    $395,365
    $619,190

    Comparable in this City

    • Value Estimation by Request
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      4700 Royal Melbourne Dr

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      0.20 Acres

      61 Old Rand Rd

      COMMERCIAL (GENERAL) • 0.20 Acres
      61 Old Rand Rd, Lake Zurich, IL 60047-3127
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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
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    • 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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    Similar Nearby for Lease

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      Office Space Available For Rent

      Office space available for rent in Lake Zurich, Illinois.
      203 S Rand Rd, Lake Zurich, IL 60047
      View Details
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      Retail Space in High-Traffic Area

      Retail space available in a high-traffic location.
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    898 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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