1519 S Il Route 31 McHenry, IL 60050
- Commercial real estate
- 1.48 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1519 S Il Route 31
- Year built
- 1938
- Lot size
- 1.48 lot acres
- Property type
- Commercial real estate
Description
Investors, take note! This exceptional 1.48-acre property in McHenry, IL, presents a remarkable redevelopment opportunity. Strategically located directly across from a new, under-construction 500+ unit apartment complex, this site boasts unparalleled visibility and access. The property comprises two parcels, currently zoned industrial: 1519 S IL Route 31 and 4404 Hi-Point Road. The 1,890 square foot residence at 1519 S IL Route 31, featuring three bedrooms and 1.5 bathrooms, currently generates rental income. The second parcel, 4404 Hi-Point Road, includes a barn with office space and a separate freestanding garage. Each parcel benefits from an independent septic system, sharing a well. This prime location offers significant advantages, situated adjacent to a major hotel chain, a restaurant, a bank, and other established commercial businesses. The property's proximity to new residential development promises strong future demand. The combined parcels present a compelling canvas for rezoning and the creation of a lucrative commercial venture. This is a rare chance to acquire a substantial property with immense potential for growth and significant return on investment. Priced at $495,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McHenry
- County
- McHenry
- State
- Illinois
- Longitude
- -88.28284
- Latitude
- 42.30645
