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Investment Highlights

  • The location of this property is ideal for a fast-food restaurant with drive through, retail, or storage facility.
  • Large expanding new homes adjacent to the property with retail will bring lots of customers to this budding community.
  • Currently has a large separate office building with parking and separate private home, and detached large garage.

Executive Summary

Prime Commercial Mixed-Use Opportunity | 2.51 Acres | Mundelein, IL | $1,500,000 Rarely does a commercial opportunity this well-positioned come to market. Situated at the highly visible intersection of Route 176, Route 60/83, and Schank Road in Mundelein, Illinois, this 2.91-acre commercial mixed-use property offers an exceptional combination of location, flexibility, and immediate livability. With IDOT-reported daily traffic counts averaging 15,000 to 20,000 vehicles, your business will enjoy outstanding visibility and consistent exposure in one of the area's most sought-after corridors. The surrounding community boasts a median household income exceeding $108,000, reflecting a strong and affluent customer base ready to support your venture. Positioned at the heart of one of Lake County's fastest-growing markets, this property is surrounded by new and expanding residential subdivisions bringing a steady influx of new households-and new customers-directly to your doorstep. The area's rapid residential growth is matched by a thriving and expanding retail corridor nearby, with shopping, dining, and service businesses continuing to grow and attract even more traffic to the region. Getting in now means positioning your business ahead of the curve as the community continues to flourish. The commercial mixed-use zoning unlocks a wide range of possible uses-including car wash, fast food, landscaping operations, and much more-making this an ideal canvas for a variety of entrepreneurial visions. Adding to the property's versatility is a residential home that provides the perfect live-and-work setup. The home features two generously sized bedrooms, a full kitchen, a large bathroom, and an unfinished full basement with laundry-offering ample room to expand and customize. A large garage adjacent to the home provides convenient storage for vehicles and equipment. The separate office building allows you to work right by your home and literally walk a few steps home. Whether you're an owner-operator looking to plant roots, an investor seeking high-visibility commercial land, or an entrepreneur ready to build your next venture-this property checks every box. Seize this rare opportunity to own a high-traffic, strategically located commercial asset right in the path of Mundelein's exciting growth.

Property Facts

Price $1,500,000
Price Per SF $1,200
Sale Type Investment or Owner User
Sale Conditions
1031 Exchange
  • Build to Suit
  • Redevelopment Project
  • Building in Shell Condition
  • REO Sale
Property Type Industrial
Property Subtype Service
Building Class C
Lot Size 2.57 AC
Rentable Building Area 1,250 SF
No. Stories 1
Year Built/Renovated 1955/2021
Tenancy Single
Parking Ratio 4/1,000 SF
Zoning GC - General Commercial, Residential, Retail, Service

Amenities

  • Yard
  • Storage Space
  • Air Conditioning

Utilities

  • Lighting
  • Gas - Natural
  • Water - Well
  • Sewer - Septic Field
  • Heating - Gas
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100

Property Taxes

Property Taxes

Parcel Number
10-23-100-042
Land Assessment
$225,913
Improvements Assessment
$75,877
Total Assessment
$301,790
  • Listing ID: 41075191

  • Date on Market: 6/26/2026

  • Last Updated:

  • Address: 20922 W Il Route 176, Mundelein, IL 60060

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