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More details for 27717 W Grass Lake Dr, Spring Grove, IL - Multifamily for Sale

The Lake-Heim — Turnkey 3-Unit Waterfront STR - 27717 W Grass Lake Dr

Spring Grove, IL 60081

  • Motel
  • Multifamily for Sale
  • $1,038,769 CAD
  • 2,760 SF
  • Air Conditioning
  • Dock
  • Private Bathroom
  • 24 Hour Access
  • Kitchen
  • Smoke Detector

Spring Grove Multifamily for Sale - Central Northwest

TURNKEY WATERFRONT AIRBNB COMPOUND — 3 UNITS ON GRASS LAKE, CHAIN O'LAKES — RC RECREATIONAL COMMERCIAL ZONING — $749,900 The Lake-Heim is a fully operational, income-producing waterfront short-term-rental compound on Grass Lake, part of the Fox Chain O'Lakes — roughly 1.1 acres with about 131 feet of private walk-in sand-beach frontage, a private pier, covered gazebo, and paver patio with firepit. Three furnished rental units (one 2BR + two 1BR, sleeping 12 total) operate under the established "Lake-Heim" brand with live booking calendars, two Airbnb Guest Favorite badges, and seller-provided 2025 Airbnb statements showing approximately $60,423 gross — up about 25% year over year across roughly 393 booked nights. And unlike the typical lake house running rentals, this property sits in Lake County's RC Recreational Commercial district — the county's resort zoning, where lodging, cabins and lake-commercial uses are the district's intended purpose. WHY THIS PROPERTY WORKS This is not just a rental property and not just a lake house — it is documented income, irreplaceable sand-beach waterfront, and resort-district zoning in one asset. Lake County prohibits short-term rentals in its residential zoning districts; RC is not a residential district — it is the county's Recreational Commercial classification, "primarily intended to accommodate commercial activities that are dependent upon locations near recreational resources, such as lakes," where hotels/motels and cabins/cottages are permitted uses (buyer to verify permitting status of the existing operation with Lake County). 2025 ran at only ~36% occupancy, so the growth lever is obvious: push occupancy, pricing and distribution toward levels typical of premier Chain frontage and the value-add projection reaches ~$45,892 NOI — roughly a 6.1% cap at asking. Meanwhile the land, beach and frontage hold value no operating metric captures. THE NUMBERS $749,900 asking. 2025 effective gross income $60,423 (+25% YoY). In-place NOI $27,726 — 3.7% cap, 12.4x gross rent multiple, $249,967/unit, $5,724 per frontage foot. Value-add projection at ~55% occupancy: ~$45,892 NOI, ~6.1% cap. All figures seller-provided or estimated; projections illustrative; buyer to verify in due diligence. SIX WAYS TO OWN IT Continue and optimize the turnkey operation. Owner-operator / house-hack — occupy the premium 2BR, let the two remaining units offset ownership cost. Multi-generational family compound with selective rental income. Add a fourth unit — rebuild on the site of a former legal, conforming fourth cottage; cabins and cottages are a permitted use in the RC district, subject to the code's lot-area and size standards (buyer to verify and obtain county approvals). Convert the bonus flex space (former laundry + full bath) into added rentable space. 1031 exchange — a documented-income waterfront replacement asset. THE UNITS Unit 1 — Premium 2BR/1BA: vaulted great room, double sliders to a private lakefront deck, cherry shaker kitchen, quartz island. Airbnb Guest Favorite, 4.91 stars. Unit 2 — attached 1BR/1BA: full kitchen, generous living area, walk-in storage. Unit 3 — freestanding 1BR/1BA cottage: the operation's top earner and most-booked unit. Airbnb Guest Favorite, 4.84 stars. All three fully furnished and actively booked — a buyer continues operations from day one. LOCATION Direct frontage on Grass Lake, the gateway lake of the Fox Chain O'Lakes — thousands of acres of connected water roughly 50-60 miles northwest of Chicago, minutes by boat to Blarney Island and near Chain O'Lakes State Park. Strong seasonal recreation demand from the Chicago suburbs, northern Illinois and southern Wisconsin. Address: 27717 W Grass Lake Dr, Spring Grove, IL 60081 (unincorporated Lake County, Antioch Township). IDEAL FOR Airbnb investor, short-term rental investor, STR portfolio, vacation rental business, VRBO operator, boutique hospitality operator, resort operator, lodge, cabin resort, cottage court, hotel and motel use, bed and breakfast operator, waterfront hospitality, marina-district investor, boat rental business, lake house buyer, waterfront home buyer, second home with income, house hacking, live-in owner-operator, multi-generational family compound, family lake retreat, corporate retreat, wellness retreat, yoga retreat, fishing lodge, hunting and fishing group, boating enthusiast, Chain O'Lakes waterfront buyer, cabin compound, three-unit investment property, small multifamily investor, 1031 exchange buyer, income property with land value, waterfront land bank, event and retreat venue (subject to county approvals), recreational commercial development, RC zoning buyer. PROPERTY FACTS $749,900. Three furnished units — 4BR/3BA total, sleeps 12. ±1.1 acres, ±131' private sand-beach frontage. Private pier, gazebo, firepit. 2025: $60,423 gross, 393 booked nights, ~36% occupancy. Zoned RC Recreational Commercial, unincorporated Lake County (Antioch Township), PIN 01-27-300-024. 27717 W Grass Lake Dr, Spring Grove, IL 60081. Contact Jason Bitton — RE/MAX Commercial — 847-858-2909 — Jason@JasonCRE.com ZONING: RC — RECREATIONAL COMMERCIAL DISTRICT, LAKE COUNTY (UNINCORPORATED, ANTIOCH TOWNSHIP) Lake County Unified Development Ordinance, County Code Ch. 151 — Sec. 151.094 (district purpose), Sec. 151.111 (use table); code current through Ord. 26-0406 (April 16, 2026). The property carries a Spring Grove mailing address but lies in unincorporated Lake County. Permitted uses are allowed by right; conditional uses require county approval; Sec. 151.110 requires a use permit prior to the establishment or change of any use. Verify the permitting status of the existing operation and all intended uses with Lake County Planning, Building & Development before purchase. Broker makes no representation as to approvability of any use. DISTRICT PURPOSE (Sec. 151.094): "primarily intended to accommodate commercial activities that are dependent upon locations near recreational resources, such as lakes." PERMITTED USES (BY RIGHT) INCLUDE: Cabins and cottages (subject to lot-area standards and a 1,000 SF per-cabin cap under Sec. 151.112(J)). Hotels and motels. Attached dwelling attached to a nonresidential use. Caretaker's dwelling unit (accessory). Marinas — RC is the only Lake County district where marinas are permitted by right. Boat sales, rental, storage and service. Restaurants and coffee shops. Ice cream shops. Gift shops. Sporting goods stores. Health clubs. Camps (subject to site-size standards). Recreational-oriented retail sales and service (the code's category examples include lodges, resorts, bars and taverns). General retail sales and service. CONDITIONAL USES (COUNTY APPROVAL REQUIRED) INCLUDE: Recreational vehicle parks. Casino/commercial watercraft. Amusement parks. Major entertainment events. Drive-in theaters. Racetracks. Outdoor shooting ranges. SHORT-TERM RENTAL NOTE: Lake County's published short-term-rental prohibition applies to unincorporated

Contact:

RE/MAX Commercial

Property Subtype:

Apartment

Date on Market:

2026-06-23

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More details for 21155-21353 W Grass Lake Rd, Antioch, IL - Land for Sale

Approx. 77.752 Acres - 21155-21353 W Grass Lake Rd

Antioch, IL 60002

  • Motel
  • Land for Sale
  • $1,378,284 CAD
  • 77.75 AC Lot
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Motel for Sale within 10 kilometers of Antioch, IL, USA

More details for E Rollins Rd & N Cedar Lake Rd, Round Lake Beach, IL - Land for Sale

E Rollins Rd & N Cedar Lake Rd

Round Lake Beach, IL 60073

  • Motel
  • Land for Sale
  • $780,523 CAD
  • 1.69 AC Lot

Round Lake Beach Land for Sale - Central Northwest

1.69-ACRE COMMERCIAL DEVELOPMENT SITE — C-3 PUD — ROLLINS ROAD, ROUND LAKE BEACH Prime 1.69-acre commercial development site on Rollins Road, Round Lake Beach's primary retail corridor, carrying approximately 30,700 vehicles per day (Illinois Department of Transportation, 2023 average annual daily traffic). Zoned C-3 General Business District with a PUD designation, the parcel supports a wide range of retail, restaurant, medical, office and service development. Priced at $563,469 — approximately $333,000 per acre — well positioned against the corridor's national-retail anchors. WHY THIS SITE WORKS Rollins Road is where Round Lake Beach shops: the corridor is anchored by national retailers and daily-needs service businesses, and the surrounding communities of Round Lake, Grayslake and Hainesville continue to add rooftops that feed it. A 1.69-acre C-3 parcel on this corridor fits a freestanding retail or medical building, a multi-tenant strip, a restaurant, a child care center, or a service pad — ground-up product this submarket has little of and keeps absorbing. Drive-through formats are achievable as special uses through the village. THE SITE 1.69 acres on Rollins Rd frontage with approximately 30,700 VPD. Zoned C-3 General Business with a PUD designation. Shovel-ready development opportunity — no demolition or prior structure to unwind. Buyer to verify all site conditions, utilities, entitlements and the recorded PUD plan in due diligence. LOCATION Rollins Road is the primary east-west commercial corridor serving Round Lake Beach, Round Lake, Hainesville and the western Grayslake area — one of Lake County's fastest-grown residential concentrations. Easy access to Route 83 and Route 120 connects the site to the broader central Lake County market, and the Rollins Road Metra station (Milwaukee District North) serves the corridor. IDEAL FOR Retail development site, commercial land, pad site, outlot, strip center development, shopping center site, multi-tenant retail, freestanding retail, restaurant site, fast casual restaurant, coffee shop, ice cream stand, bakery, deli, grocery store, food store, specialty grocery, meat market, supermarket pad, pharmacy, drugstore, package liquor store, medical office building, medical clinic, urgent care, dental office, dental clinic, doctor's office, chiropractor, optician, medical and dental laboratory, veterinary clinic, animal hospital, kennel, child care center, daycare, nursery school, preschool, bank, drive-in banking (special use), credit union, financial institution, insurance agency, real estate office, accounting office, attorney, law office, professional office, office building, engineering office, architectural office, hotel, motel, convalescent or nursing home, hardware store, farm and garden supply, garden center, nursery stock, building supply, lumber yard, swimming pool sales, furniture store, appliance store, electronics sales and repair, apparel store, shoe store, jewelry store, sporting goods store, toy store, variety store, antique store, camera store, book store, floral shop, barber shop, beauty shop, nail salon, tailor, photographic studio, music school, tire and auto accessory store, boat dealer, automobile rental, drive-thru restaurant (special use), gas station (special use), car wash (special use), auto repair (special use), auto dealership (special use), used car lot (special use), motorcycle sales (special use), self-storage / mini-storage (special use), gym (special use), health and fitness center (special use), martial arts studio (special use), dance studio (special use), gymnastics studio (special use), indoor entertainment center (special use), brew pub with taproom (special use), funeral home (special use), cannabis dispensary (special use), mixed-use commercial-residential (special use), wholesale, warehouse (special use), Rollins Road retail, Round Lake Beach commercial land, Lake County development site, 1031 land exchange. PROPERTY FACTS 1.69 acres commercial land. $563,469 (~$333K/acre). Zoned C-3 General Business District (PUD), Village of Round Lake Beach. Rollins Rd frontage — approx. 30,700 VPD (IDOT 2023). Round Lake Beach, Lake County, IL 60073. Contact Jason Bitton — RE/MAX Commercial — 847-858-2909 — Jason@JasonCRE.com ZONING: C-3 GENERAL BUSINESS DISTRICT (PUD) Village of Round Lake Beach Code of Ordinances, Appendix A (Zoning Regulations), Article VI, Sec. 604.0 — codified through Ord. No. 25-05-02 (May 19, 2025). Permitted uses are allowed by right. Special uses require village review and approval and are not guaranteed. This parcel carries a PUD (Planned Unit Development) designation: the recorded PUD ordinance / final development plan governs alongside the base C-3 standards and may modify permitted uses, density and bulk standards — review it before contract. Verify all uses independently with the Village of Round Lake Beach before purchase. Broker makes no representation as to approvability of any use. PERMITTED USES (BY RIGHT) INCLUDE: Retail businesses including antique stores, apparel stores, retail bakeries, book and stationery stores, camera stores, candy and confectionery, dairy products stores, delicatessens, drug stores, dry goods, floral shops, grocery and food stores, hardware stores, ice cream stores, jewelry stores, meat markets, shoe stores, sporting goods, toy stores, variety stores, auto accessory stores, package liquor stores. Automobile and motorcycle accessory stores. Tire, battery and accessory dealers. Boat dealers. Building services and supplies. Farm and garden supply. Lumber yards. Nursery stock. Shopping centers. Restaurants (excluding drive-in service). Ice cream refreshment stands. Personal services including barber shops, beauty shops, dry cleaners, self-service laundry, music schools, photographic studios, shoe repair, tailor shops, computer and electronics sales and repair. Child care nurseries. Business services including banks, automobile rental, medical clinics, veterinary clinics, animal hospitals and kennels, electrical/plumbing/heating/paint shops, equipment rental, commercial parking lots, towing service. Professional offices including attorneys, physicians, dentists, chiropractors, opticians, medical and dental clinics and laboratories, accounting, engineering and architectural services, insurance, real estate, financial institutions. Governmental and quasi-public buildings, hospitals, vocational schools, post offices. Hotels and motels. Convalescent and nursing homes. Wholesale establishments and wholesale bakeries. Dairy products manufacture, printing and publishing, central laundry and dry cleaning plants. SPECIAL USES (VILLAGE APPROVAL REQUIRED) INCLUDE: Automobile repair shops, service stations, filling stations, body shops, auto painting, undercoating, automobile laundry (car wash), diagnostic centers, driving instruction. Motor vehicle dealers, used car lots, mobile home dealers, camper sales, motorcycle sales and service, tire re

Contact:

RE/MAX Commercial

Property Subtype:

Commercial

Date on Market:

2026-05-08

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