1329 Lake St Aurora, IL 60506
- Apartment buildings
- 28,782 SF
- 2.18 lot acres
Current Use by Public Records
- Fox Valley Adult Transition Center / State Government Office
Property Details for 1329 Lake St
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.18 lot acres
- Property size
- 28,782 SF
- Property type
- Apartment buildings
- APN
- 15-10-352-045
- APU
- 1510352045
Description
This exceptional 27,000 square foot commercial land parcel is ideally situated at the southeast corner of North Lake Street (IL Route 31) and Sullivan Road in Aurora, Illinois, 60506. Boasting a prime location with high visibility, this property benefits from approximately 33,000+ vehicles passing daily, thanks to its position on a signalized intersection of two major thoroughfares. The B-2 zoning, with City of Aurora Planning Department approval pending final plan submission, makes it perfect for fast-food or retail development. This site enjoys exceptional access to major transportation arteries, including less than a half-mile proximity to the I-88 & Route 31 interchange, which sees over 82,000 vehicles daily. The property's strategic location places it adjacent to the expansive 80-acre Ascension Mercy Medical Campus (370+ beds) and the Illinois Social Security Office, ensuring a consistent flow of potential customers. Furthermore, the densely populated area, with over 112,000 residents within a 3-mile radius and Aurora's overall population exceeding 180,000, presents a substantial and readily accessible market. The land is priced at $22 per square foot. This is a rare opportunity to acquire a high-traffic, strategically located commercial lot in a thriving Illinois city.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,670,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,395,000
- 6.5%
- $2,390,000
- 7%
- $2,255,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,095,000
- Geo Method
- $2,635,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,480,000
- Retail
- $2,370,000
- Mixed-Use
- $2,150,000
- Hospitality
- $2,245,000
- Educational
- $2,065,000
- Residential Income
- $2,485,000
- Energy
- $2,325,000
- Income-Based Land
- $2,365,000
- Food Service
- $2,090,000
Location Insight
- Map
- Local Demand
- City
- Aurora
- County
- Kane
- State
- Illinois
- Longitude
- -88.3204
- Latitude
- 41.7881
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
