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 six figures 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.
Details
MLS#
12114223
Listing Type
For Sale
Style
Land
Sub-Type
Resale
Status
Active
Days On Site
183
Listing Provided By
Coldwell Banker Commercial NRT | Paul Proano
Features
Zoning
COMMR
Acreage
1.45
Market Activity 60047
Date
Sales
Avg $ Per SqFt
Min Sale Price
Max Sale Price
Med Sale Price
Date: Dec 2024
Sales: 5
Avg $ Per SqFt: $168.84
Min Sale Price: $271,500
Max Sale Price: $1,160,000
Med Sale Price: $750,000
Date: Nov 2024
Sales: 13
Avg $ Per SqFt: $203.61
Min Sale Price: $270,000
Max Sale Price: $1,275,000
Med Sale Price: $607,000
Date: Oct 2024
Sales: 25
Avg $ Per SqFt: $214.4
Min Sale Price: $307,500
Max Sale Price: $1,260,000
Med Sale Price: $675,000
Date: Sep 2024
Sales: 16
Avg $ Per SqFt: $204.43
Min Sale Price: $155,000
Max Sale Price: $1,175,000
Med Sale Price: $558,750
Date: Jul 2024
Sales: 3
Avg $ Per SqFt: $206.35
Min Sale Price: $750,000
Max Sale Price: $1,100,000
Med Sale Price: $793,380
Date: Jun 2024
Sales: 4
Avg $ Per SqFt: $284.95
Min Sale Price: $660,000
Max Sale Price: $1,625,000
Med Sale Price: $741,179
Date: May 2024
Sales: 5
Avg $ Per SqFt: $220.19
Min Sale Price: $200,000
Max Sale Price: $1,395,000
Med Sale Price: $657,500
Date: Apr 2024
Sales: 2
Avg $ Per SqFt: $146.64
Min Sale Price: $560,000
Max Sale Price: $795,390
Med Sale Price: $677,695
Date: Mar 2024
Sales: 2
Avg $ Per SqFt: $233.35
Min Sale Price: $525,000
Max Sale Price: $800,375
Med Sale Price: $662,687
Date: Feb 2024
Sales: 1
Avg $ Per SqFt: $129.07
Min Sale Price: $610,000
Max Sale Price: $610,000
Med Sale Price: $610,000
Sourced by Back At You
Dec 2024
Sales:
5
Avg $ Per SqFt:
$168.84
Min Sale Price:
$271,500
Max Sale Price:
$1,160,000
Med Sale Price:
$750,000
Nov 2024
Sales:
13
Avg $ Per SqFt:
$203.61
Min Sale Price:
$270,000
Max Sale Price:
$1,275,000
Med Sale Price:
$607,000
Oct 2024
Sales:
25
Avg $ Per SqFt:
$214.4
Min Sale Price:
$307,500
Max Sale Price:
$1,260,000
Med Sale Price:
$675,000
Sep 2024
Sales:
16
Avg $ Per SqFt:
$204.43
Min Sale Price:
$155,000
Max Sale Price:
$1,175,000
Med Sale Price:
$558,750
Jul 2024
Sales:
3
Avg $ Per SqFt:
$206.35
Min Sale Price:
$750,000
Max Sale Price:
$1,100,000
Med Sale Price:
$793,380
Jun 2024
Sales:
4
Avg $ Per SqFt:
$284.95
Min Sale Price:
$660,000
Max Sale Price:
$1,625,000
Med Sale Price:
$741,179
May 2024
Sales:
5
Avg $ Per SqFt:
$220.19
Min Sale Price:
$200,000
Max Sale Price:
$1,395,000
Med Sale Price:
$657,500
Apr 2024
Sales:
2
Avg $ Per SqFt:
$146.64
Min Sale Price:
$560,000
Max Sale Price:
$795,390
Med Sale Price:
$677,695
Mar 2024
Sales:
2
Avg $ Per SqFt:
$233.35
Min Sale Price:
$525,000
Max Sale Price:
$800,375
Med Sale Price:
$662,687
Feb 2024
Sales:
1
Avg $ Per SqFt:
$129.07
Min Sale Price:
$610,000
Max Sale Price:
$610,000
Med Sale Price:
$610,000
MLS Number: 12114223
Paul Proano – (312) 860-4043
Coldwell Banker Commercial NRT – (312) 860-4043
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