511 Rockland Road
$1,975,000
14
13
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Description
Value is in the land for redevelopment. The Sunset Motel is located at 511 Rockland Road. 8 Skokie Valley Road Office Building and one single family home located at 11 Shagbark Road is being sold separately under MLS #'s 11392405 and 11392412 . Seller will sell this four parcel lot package with a total of 62,624 sq foot combined parcel at $5,900,000. Sunset Motel is currently open and operating. Office building at 8 Skokie BLVD has a few month to month tenants in place. SFH at 11 Shagbark is rented...Value is in the land for redevelopment. The Sunset Motel is located at 511 Rockland Road. 8 Skokie Valley Road Office Building and one single family home located at 11 Shagbark Road is being sold separately under MLS #'s 11392405 and 11392412 . Seller will sell this four parcel lot package with a total of 62,624 sq foot combined parcel at $5,900,000. Sunset Motel is currently open and operating. Office building at 8 Skokie BLVD has a few month to month tenants in place. SFH at 11 Shagbark is rented with a month to month lease in place. Rare North Shore commercial redevelopment land acquisition opportunity available in Lake Bluff, IL. Major market areas include Lake Bluff, Lake Forest, Green Oaks and Libertyville, IL. General Commercial and Residential Zoning currently in place. Located in unincorporated Lake Bluff - Current Lake County Zoning. Buyer could voluntarily annex into the Village of Lake Bluff - Lake Bluff willing to offer financial incentives! Recent developments include new Target & Chase Bank plus retail strip malls directly across the street on Route 176 (Rockland Road) Adjacent to the brand new Northwestern Medicine building that just sold for $8,150,000 in 2021, which is located directly across the street on Route 176. Sold in May of 2020 for $3,700,000 for 41,040 sq ft parcel. This sales comparable sold for $90.16 per sq ft. Thriving commercial corridor serving Lake Bluff & Lake Forest residents plus large daytime employment from Abbott Labs and many surrounding businesses. Value is in the land! This offering is part of a larger eight-parcel assembly of contiguous properties that total 2.75 acres of commercial and residential land. Possible rezoning of all parcels to be either commercial or residential. Future use for new retail, medical, multi-family, drive-thru etc. Contact John Josephitis for full Offering Memorandum and complete details on the overall development opportunity.
- Listed by John Josephitis • Coldwell Banker Realty
Property Details for 511 Rockland Road
Area
Lake Bluff
TownshipShields
ZoningCOMMR
LISTING UPDATED: 08/17/2024 03:17 AM
Property Details for 511 Rockland Road
Status | Active |
---|---|
MLS # | 11392402 |
Days on Market | 962 |
Taxes | $12,242 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Rooming House/Sro |
Year Built | 1960 |
Lot Size | 0.50 AC / 21,918 SF |
County | Lake County |
Building Information for 511 Rockland Road
Stories1Residences13Year Built1960Building Size-Lot Size0.50 AC / 21,918 SF
Property Information for 511 Rockland Road
Property History for 511 Rockland Road
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 511 Rockland Road
Taxable ValueLand$130,461Additions$75,861Total$206,322
Tax Record2023$11,801 ($983 / month)
Home Facts
Total Finished SqFt5,729 SqFtAbove Grade Finished SqFt5,729 SqFtLot Size21,919 SqFtStyleHotel / MotelYear Built1960CountyLAKEAPN12-19-206-014
Schools near 511 Rockland Road
This home is within Lake Bluff Esd 65 School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Private - | 5 to 12 |
Rating | School | Distance |
---|---|---|
Lake Bluff Elementary School PublicPK to 5 | ||
Lake Bluff Middle School Public6 to 8 | ||
Lake Forest High School Public9 to 12 | ||
Safe Haven School Private5 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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