898 South Rand Road

Lake Zurich, IL 60047

$1,500,000
Price
63,162 / 1.45
Lot Size / Acres

Description

Introducing an unparalleled opportunity for visionary developers: Paul Proano Properties proudly presents an exclusive prime land development prospect in the heart of Lake Zurich. Nestled on 1.45 acres, this site features a 6,259 square foot mixed-use 10-unit building currently generating $100,800 annually, poised for increased rental yields. The unit mix is (4) 1Bd/1Bath units, (4) studio units, (1) 2Bd/1Bath unit and (1) office unit. Being zoned B-3 for regional shopping, the location offers exceptional...Introducing an unparalleled opportunity for visionary developers: Paul Proano Properties proudly presents an exclusive prime land development prospect in the heart of Lake Zurich. Nestled on 1.45 acres, this site features a 6,259 square foot mixed-use 10-unit building currently generating $100,800 annually, poised for increased rental yields. The unit mix is (4) 1Bd/1Bath units, (4) studio units, (1) 2Bd/1Bath unit and (1) office unit. Being zoned B-3 for regional shopping, the location offers exceptional redevelopment potential. Boasting 290 feet of frontage and comprehensive on-site utilities, this property ensures streamlined development. Lake Zurich, a vibrant community of 19,624 residents, provides an ideal backdrop for capitalizing on a prominent, high-traffic locale. Strategically positioned off Route 12 with 37,274 vehicles passing daily, it neighbors major retailers such as Walmart, Costco, and Home Depot. Adjacent to a bustling retail strip featuring Lake Zurich DMV, Binny's, Tropical Smoothie, and Duck Donuts, and with ongoing commercial developments nearby, this site promises to be a cornerstone of the area's growth.
  1. Listed by Paul Proano • Coldwell Banker Commercial NRT
  2. Listed by Alex Sokolowski • Coldwell Banker Commercial NRT

Property Details for 898 South Rand Road

Area
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
Township
Ela
Ownership
Fee Simple
Num Of Parking Spaces
0.0
Zoning
COMMR
LISTING UPDATED: 11/03/2024 01:04 PM

Property Details for 898 South Rand Road

StatusActive
MLS #12114223
Days on Market175
Taxes$15,946 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand
Year Built-
Lot Size1.45 AC
CountyLake County

Building Information for 898 South Rand Road

Lot Size1.45 AC

Property Information for 898 South Rand Road

General Information
School Information
  • Elementary School District: 95
  • High School District: 95
  • Middle Or Junior School District: 95
Location and General Information
  • Frontage Length: 290
  • Frontage Type: Frontage Road, Paved
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Basement Description: None
  • Basement Bathrooms: No
  • Num of Baths: 0.0
Exterior Features
  • Backup Package: No
Utilities / Equipment
  • Utilities: Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal, Water to Site
Property/Lot Information
  • Lot Size: 1.0-1.99 Acres
  • Lot Dimensions: 290X300X413X208.40
  • Approx Land Sq Footage: 63291
  • Buildings on Land: Yes
  • Waterfront: No
  • Driveway: Asphalt
  • General Information: None
Property and Assessments
  • Possible Use: Commercial, Conditional Use, Retail
  • Public Document Count: 2
  • Document Date: 2024-08-01T14:29:00
  • Photos Count: 12
  • OpenHouse Count: 0
Miscellaneous
  • Current Use: Multi-Family
  • Land Description: Level
  • Location: Mixed Use Area,High Traffic Area
  • Rail Availability: None
  • Road Surface: Asphalt
  • Subdivision Lot Number: 21
  • Total Listed Lots Avail: 1
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No

Property History for 898 South Rand Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 898 South Rand Road

Taxable ValueLand$74,601Additions$131,775Total$206,376
Tax Record2023$15,944 ($1,329 / month)
Home Facts
Lot Size62,291 SqFtStyleMiscellaneous CommercialCountyLAKEAPN14-20-404-028

Schools near 898 South Rand Road

This home is within Lake Zurich Community Unit School District 95.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
May Whitney Elementary School
PublicPK to 5

Lake Zurich Middle - S Campus
Public6 to 8

Lake Zurich High School
Public9 to 12

St Francis De Sales School
PrivatePK to 8

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.

Similar Homes

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Similar Sold Homes

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898 South Rand Road is a 1.45 ac of land for sale in Lake Zurich, IL 60047. This property was listed for sale on July 23, 2024 by Coldwell Banker Commercial NRT, it's currently listed at $1,500,000. This listing's school district is Lake Zurich Community Unit School District 95. Nearby schools include May Whitney Elementary School, Lake Zurich Middle - S Campus and Lake Zurich High School. 898 South Rand Road is a 0-bed, 0-bath, 1.45 ac of land on a 63,162 sq. ft. / 1.45 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Commercial NRT

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 11/03/2024 01:04 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.