506 West Washington Avenue
506 West Washington Avenue
$340,000
2
1
1
984
984
$346
Description
Value is in the land for redevelopment. Consists of one single family townhome located at 506 W Washington Avenue in unincorporated Lake Bluff. Three other townhomes in the Knollwood Townhomes are also for sale under separate listings. The Sunset Motel located at 511 Rockland Road is being sold separately under MLS 11392402. Sunset Motel is currently open and operating. 11 Shagbark is rented with a month to month lease in place. PIN numbers 12-19-206-014, 12-19-206-15, 12-19-206-010 and 12-19- 206-007...Value is in the land for redevelopment. Consists of one single family townhome located at 506 W Washington Avenue in unincorporated Lake Bluff. Three other townhomes in the Knollwood Townhomes are also for sale under separate listings. The Sunset Motel located at 511 Rockland Road is being sold separately under MLS 11392402. Sunset Motel is currently open and operating. 11 Shagbark is rented with a month to month lease in place. PIN numbers 12-19-206-014, 12-19-206-15, 12-19-206-010 and 12-19- 206-007 are also for sale. Other properties in this offering are three single family homes located on Shagbark Road. Rare North Shore commercial redevelopment land acquisition opportunity available in Lake Bluff, IL. Major market areas include Lake Bluff, Lake Forest, Green Oaks and Libertyville, IL. General Commercial and Residential Zoning currently in place. Located in unincorporated Lake Bluff - Current Lake County Zoning. Buyer could voluntarily annex into the Village of Lake Bluff - Lake Bluff willing to offer financial incentives! Recent developments include new Target & Chase Bank plus retail strip malls directly across the street on Route 176 (Rockland Road) Adjacent to the brand new Northwestern Medicine building that just sold for $8,150,000 in 2021, which is located directly across the street on Route 176. Sold in May of 2020 for $3,700,000 for 41,040 sq ft parcel. This sales comparable sold for $90.16 per sq ft. Thriving commercial corridor serving Lake Bluff & Lake Forest residents plus large daytime employment from Abbott Labs and many surrounding businesses. Value is in the land! This offering is part of a larger eleven-parcel assembly of contiguous properties that total about 120,000 sq ft or 2.75 acres of commercial and residential land. Possible rezoning of all parcels to be either commercial or residential. Future use for new retail, medical, multi-family, drive-thru etc. Contact John Josephitis for full Offering Memorandum and complete details on the overall development opportunity.
- Listed by John Josephitis • Coldwell Banker Realty
Property Details for 506 West Washington Avenue
Area
Lake Bluff
TownshipShields
OwnershipFee Simple
Num Of Parking Spaces2.0
Parking Included in PriceYes
Heat/FuelElectric, Baseboard
Pets AllowedNo
Location
LISTING UPDATED: 12/16/2023 02:01 AM
Property Details for 506 West Washington Avenue
Status | Active |
---|---|
MLS # | 11687316 |
Days on Market | 499 |
Taxes | $2,856 / year |
HOA Fees | $125 / month |
Condo/Co-op Fees | - |
Compass Type | Townhouse |
MLS Type | Attached Single / Townhouse-2 Story |
Year Built | 1973 |
Lot Size | 0.14 AC / 6,272 SF |
County | Lake County |
Location
Building Information for 506 West Washington Avenue
Stories2Residences4Year Built1973Lot Size0.14 AC / 6,272 SF
Payment Calculator
$2,219 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 506 West Washington Avenue
Property History for 506 West Washington Avenue
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 506 West Washington Avenue
Taxable ValueLand$11,287Additions$31,072Total$42,359
Tax Record2022$2,850 ($237 / month)
Home Facts
Beds0Baths1.5Total Finished SqFt984 SqFtAbove Grade Finished SqFt984 SqFtStories2Lot Size6,264 SqFtStyleTownhouseYear Built1977CountyLAKEAPN12-19-206-017
Schools near 506 West Washington Avenue
This home is within Lake Bluff Esd 65 School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Private - | 5 to 12 |
Rating | School | Distance |
---|---|---|
Lake Bluff Elementary School PublicPK to 6 | ||
Lake Bluff Middle School Public6 to 8 | ||
Lake Forest High School Public9 to 12 | ||
Safe Haven School Private5 to 12 |
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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