Courtesy of Coldwell Banker Commercial NRT

17 E Main Street

Lake Zurich, IL, 60047

$2,000,000

$2,000,000
Active
Active
 - For Sale
property_type
Land
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.
MLS® ID:
11784067
Listed:
5/13/23
Updated:
11/28/23
Berkshire Hathaway HomeServices
Michael Rosenblum
Mobile: (312) 286-1634Email: [email protected]
By providing your contact information, you acknowledge and agree to ourPrivacy Policyand consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central Air

Exterior/Building Features

Lot Size
0.54 acres lot

School Information

High School
95
Elementary School
95

Other Property Details

Area Name
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
Taxes
$19187.87
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
Lake
Utilities
Electric to Site, Gas to Site, Sanitary Sewer, Water to Site
Pool
No
Zoning
COMMR
Buyer Agency Compensation
2%( MINUS $495.00)

Courtesy of Coldwell Banker Commercial NRT, Paul Proano,
Listing Contact:  

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Michael Rosenblum are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 11/28/23. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

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Data last updated 3:55 PM UTC, 11/28/23

 

 

Berkshire Hathaway HomeServices
Michael Rosenblum
Mobile: (312) 286-1634Email: [email protected]
By providing your contact information, you acknowledge and agree to ourPrivacy Policyand consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.
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