Prime Corner Lot Location I Mixed Use Building I TIF

For Sale

3 S Old Rand Rd, Lake Zurich, IL 60047

This Lake Zurich property for sale is located at 3 S Old Rand Rd. The current listed sale price for Prime Corner Lot Location I Mixed Use Building I TIF is $779,985. Prime Corner Lot Location I Mixed Use Building I TIF is situated on a lot that is 8,150 square feet in size.

Contacts

broker
Alex Sokolowski

Coldwell Banker Realty

broker
Paul Proano

Coldwell Banker Realty

Property Details

  • Property Type Other
  • Units 5
  • Lot Size 8,150 SF
  • Additional Rent Contact for pricing
  • # of Floors 2
  • Parking Spaces Avail. 10
  • Parking Ratio 1.23 / 1,000 SF
  • Year Built 1967
  • Date Updated Dec 18, 2024
ATTENTION ALL INVESTORS OR SMALL BUSINESS OWNERS! Welcome to 3 S Old Rand Rd, a lucrative mixed-use development opportunity perfectly suited for investors and small business owners looking to make their mark in Downtown Lake Zurich, IL. With the current B-2 zoning this property offers opportunities whether you envision a cozy cafe, boutique retail shop, or professional office space, the possibilities are endless. Conveniently located in a thriving community, this property enjoys proximity to various amenities and attractions. The first floor offers 4,149 SF retail or office space which is currently a retail music store on a month to month lease and could vacate within 60 days or sign a short term lease. The building offers a 840 SF basement currently being used as storage for the first floor retail space. Upstairs, discover an additional approximately 1,200 rentable square feet of apartment living divided into 2-studio apartments and 2-(1)one-bedroom/(1)one bathroom apartments. Enhanced by a beautiful deck upstairs, providing versatile outdoor space ideal for various businesses to utilize and enhance customer experience. Currently only two out of the four units are operating as Airbnb units, generating steady additional income with potential for more. Investors can also take advantage of this strong rental market and generate steady income by renting the four apartment units on the second floor.
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Highlights

  • Conveniently located in a thriving community, this property enjoys proximity to various amenities and attractions. Enhanced by a beautiful deck upstairs, providing versatile outdoor space ideal for various businesses to utilize and enhance customer experience. With a median household income of $127,330 within a 1-mile radius and low Lake County taxes, the area offers a favorable environment for both tenants and businesses
  • Age: Over 50 Years Old
  • Appliances: Dishwasher
  • Appliances: Double Oven
  • Appliances: Range / Oven
  • Appliances: Refrigerator
  • Area Amenities: Area Fishing
  • Area Amenities: Boating
  • Area Amenities: Outdoor Activities
  • Area Description: Suburban
  • Body of Water: Lake
  • Community Type: 55+ Community
  • Community Type: Adult
  • Cooling: Central A/C
  • Exterior: Sidewalk
  • Exterior Description: Cement Siding
  • Exterior Description: Stone
  • Exterior Description: Wood Siding
  • Exterior Living Space: Deck
  • Flooring: Wall to Wall Carpet
  • Garage Description: Attached Garage
  • General: Storage Area
  • Heating - Fuel Type: Electric
  • Heating - Fuel Type: Gas
  • Heating Type: Forced Air
  • Lot Description: Corner
  • Lot Size: Under 1/2 Acre
  • Road Type: City / Town Street
  • Sewer: City
  • Water: City Water

Attachments

Getting around

  • 72/100

    Walk Score ®

  • 45/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Lake Zurich, IL
  • Zip Code 60047
  • Market Chicago

Points of Interest

  • Barrington

    3.63 miles

  • Palatine

    6.23 miles

  • Fox River Grove

    6.45 miles

  • Mundelein

    6.89 miles

  • Cary

    7.67 miles

  • Arlington Park

    8.27 miles

  • Prairie Crossing

    9.48 miles

  • Libertyville Metra Station

    9.57 miles

  • Libertyville

    9.57 miles

  • Arlington Heights

    9.59 miles

  • ChargePoint

    0.12 miles

  • Costco Gasoline

    0.70 miles

  • Casey's General Store

    0.76 miles

  • Shell

    0.86 miles

  • Electrify America

    0.92 miles

  • BP

    0.96 miles

  • Mariano's

    1.65 miles

  • Mobil

    3.42 miles

  • Volta Charging Station

    7.92 miles

  • CDW Charging Station

    8.00 miles

  • Citizen's Park parking

    2.80 miles

  • Deer Grove Parking Lot

    3.57 miles

  • Baker's Lake Overlook Parking

    3.73 miles

  • Emergency Room Parking

    4.04 miles

  • Visitor Parking

    4.10 miles

  • Holiday Inn Express & Suites

    0.99 miles

  • Hampton Inn & Suites

    3.46 miles

  • Baymont Inn & Suites Mundelein near Vernon Hills

    5.70 miles

  • Doubletree Mundelein

    5.74 miles

  • Motel 6 Palatine

    5.76 miles

  • Super 8 by Wyndham Mundelein/Libertyville Area

    5.82 miles

  • Courtyard

    5.83 miles

  • Days Inn & Suites by Wyndham Arlington Heights

    6.26 miles

  • Four Points by Sheraton Buffalo Grove

    6.63 miles

  • Holiday Inn Express Vernon Hills

    7.59 miles

  • Jewel-Osco

    0.73 miles

  • Walmart Supercenter

    0.79 miles

  • Target

    0.89 miles

  • Trader Joe's

    0.97 miles

  • ALDI

    1.24 miles

  • Kohl's

    1.34 miles

  • Mariano's Fresh Market

    1.68 miles

  • Hienen's

    3.47 miles

  • Whole Foods Market

    3.59 miles

  • Ice House Mall & Village Shops

    3.70 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

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