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898 S Rand Rd - Prime Location I Next to Walmart I 37,274 VPD 1.45 Acres of Commercial Land Offered at $1,400,000 in Lake Zurich, IL 60047
Investment Highlights
- Great opportunity for redevelopment
- Zoned B-3
- High visibility
- 1.45 acres
- Prime location in Lake Zurich
- Facing Rt 12
Executive Summary
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.
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $1,400,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Proposed Use | ||
| No. Lots | 1 | Total Lot Size | 1.45 AC |
| Zoning | B-3 - Regional Shopping | ||
| Price | $1,400,000 |
| Sale Type | Investment |
| Sale Conditions | |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.45 AC |
| Zoning | B-3 - Regional Shopping |
1 Lot Available
Lot 21
| Price | $1,400,000 | Lot Size | 1.45 AC |
| Price Per AC | $965,517.24 |
| Price | $1,400,000 |
| Price Per AC | $965,517.24 |
| Lot Size | 1.45 AC |
Strategically located off bustling Route 12, which boasts a daily traffic count of 37,274 vehicles, this property is adjacent to major retailers such as Walmart, Costco, and Home Depot. It is also situated across from a busy retail strip center.
Property Taxes
| Parcel Number | 14-20-404-028 | Total Assessment | $230,098 (2024) |
| Land Assessment | $83,176 (2024) | Annual Taxes | ($1) |
| Improvements Assessment | $146,922 (2024) | Tax Year | 2023 |
Property Taxes
Parcel Number
14-20-404-028
Land Assessment
$83,176 (2024)
Improvements Assessment
$146,922 (2024)
Total Assessment
$230,098 (2024)
Annual Taxes
($1)
Tax Year
2023
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898 S Rand Rd - Prime Location I Next to Walmart I 37,274 VPD
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