17 East Main Street
17 East Main Street
$2,000,000
23,522 / 0.54
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.
- Listed by Paul Proano • Coldwell Banker Commercial NRT
Property Details for 17 East Main Street
Area
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
TownshipEla
OwnershipFee Simple
Num Of Cars0.0
ZoningCOMMR
Location
LISTING UPDATED: 09/14/2023 04:49 PM
Property Details for 17 East Main Street
Status | Active |
---|---|
MLS # | 11784067 |
Days on Market | 577 |
Taxes | $19,188 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land |
Year Built | - |
Lot Size | 0.54 AC |
County | Lake County |
Location
Building Information for 17 East Main Street
Lot Size0.54 AC
Payment Calculator
$12,514 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 17 East Main Street
Property History for 17 East Main Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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