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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 $1,927,646 CAD 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 (CAD) | ANNUAL PER AC (CAD) |
|---|---|---|
| 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 (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
PROPERTY FACTS
| Price | $1,927,646 CAD | 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 | $1,927,646 CAD |
| 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 | $1,927,646 CAD | Lot Size | 1.45 AC |
| Price Per AC | $1,329,410.98 CAD |
| Price | $1,927,646 CAD |
| Price Per AC | $1,329,410.98 CAD |
| 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 | $316,820 CAD (2024) |
| Land Assessment | $114,524 CAD (2024) | Annual Taxes | -$1 CAD |
| Improvements Assessment | $202,295 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
14-20-404-028
Land Assessment
$114,524 CAD (2024)
Improvements Assessment
$202,295 CAD (2024)
Total Assessment
$316,820 CAD (2024)
Annual Taxes
-$1 CAD
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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