17 East Main Street

Lake Zurich, IL 60047

$2,000,000
Price
23,522 / 0.54
Lot Size / Acres

Description

Seller financing available! Prime real estate potential development opportunity on the corner of Main St and Old Rand Rd in the heart of downtown Lake Zurich, IL. Located at two main crossroads of the rapidly redeveloping Main Street Commercial District, this zoned B-2 and .5 (21,780SF) of an acre redevelopment opportunity Is located in the TIF district where a developer can work hand in hand with the village of Lake Zurich to develop some type of mixed-use property or residential living development....Seller financing available! Prime real estate potential development opportunity on the corner of Main St and Old Rand Rd in the heart of downtown Lake Zurich, IL. Located at two main crossroads of the rapidly redeveloping Main Street Commercial District, this zoned B-2 and .5 (21,780SF) of an acre redevelopment opportunity Is located in the TIF district where a developer can work hand in hand with the village of Lake Zurich to develop some type of mixed-use property or residential living development. The site currently has three buildings (which can be sold separately) located on the property, two retail structures and one house. The property offers 59' feet of frontage on Main Street and 260' feet on old Rand Road with 17,000 vehicles per day passing through the intersection while located at a four-way intersection. The property has four Pin#s:1420102010,1420102008,1420102004,1420201003 addresses 17 E. Main St, 44 S. Old Rand Rd, 36 S. Old Rand Rd & 20 S. Old Rand Rd. A RESOURCE GUIDE TO TAX INCREMENT FINANCING (TIF) What Is TIF? Tax Increment Financing (TIF) is a program that allocates future increases in property taxes from a designated area, or TIF district, to pay for improvements within that area. In Illinois, the TIF district can remain in place for up to 23 years after its creation. The district can be extended for another 12 years, but an extension requires an act of the state legislature. Other states' laws regarding TIF vary, but the key principles are similar across the country.
  1. Listed by Paul Proano • Coldwell Banker Commercial NRT

Property Details for 17 East Main Street

Area
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
Township
Ela
Ownership
Fee Simple
Num Of Cars
0.0
Zoning
COMMR

Location

Listing Courtesy of Coldwell Banker Commercial NRT
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LISTING UPDATED: 09/14/2023 04:49 PM

Property Details for 17 East Main Street

StatusActive
MLS #11784067
Days on Market577
Taxes$19,188 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand
Year Built-
Lot Size0.54 AC
CountyLake County

Location

Listing Courtesy of Coldwell Banker Commercial NRT
Add your commute

Building Information for 17 East Main Street

Lot Size0.54 AC

Payment Calculator

$12,514 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,915

Property Taxes

$1,599

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 17 East Main Street

General Information
School Information
  • Elementary School District: 95
  • High School District: 95
  • Middle Or Junior School District: 95
Location and General Information
  • Frontage Length: 59
  • Frontage Type: City Street
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • 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 to Site
Property/Lot Information
  • Lot Size: .50-.99 Acre
  • Lot Dimensions: 59X150X87X55X50XX100 171X27X150X108
  • Approx Land Sq Footage: 23522
  • Buildings on Land: Yes
  • Waterfront: No
  • Driveway: Shared
  • General Information: None
Property and Assessments
  • Possible Use: Commercial, Condominium, Multi-Family, Retail
  • Public Document Count: 4
  • Document Date: 2023-05-16T13:35:00
  • Photos Count: 16
Miscellaneous
  • Current Use: Commercial, Single Family, Retail
  • Land Description: Common Grounds,Landscaped Professionally,Level
  • Location: Central Business District,Corner,Mixed Use Area,High Traffic Area
  • Road Surface: Concrete
  • Total Listed Lots Avail: 4
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No

Property History for 17 East Main Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 17 East Main Street

Taxable ValueLand$17,997Additions$64,092Total$82,089
Tax Record2023$6,342 ($529 / month)
Home Facts
Lot Size7,410 SqFtStyleMiscellaneous CommercialCountyLAKEAPN14-20-102-008

Schools near 17 East Main Street

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 - N 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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17 East Main Street is a 0.54 ac of land for sale in Lake Zurich, IL 60047. This property was listed for sale on May 14, 2023 by Coldwell Banker Commercial NRT, it's currently listed at $2,000,000. This listing's school district is Lake Zurich Community Unit School District 95. Nearby schools include May Whitney Elementary School, Lake Zurich Middle - N Campus and Lake Zurich High School. 17 East Main Street is a 0-bed, 0-bath, 0.54 ac of land on a 23,522 sq. ft. / 0.54 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. 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 09/14/2023 04:49 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.