Active
3 S Old Rand Road
Lake Zurich IL, 60047
$800,000
$119.67 per sqft
Active
6,685 sqft
Commercial
Built in 1967
Courtesy of Coldwell Banker Commercial NRT
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.
12006867
MLSⓇ ID
March 17, 2024
Listed
April 6, 2024
Updated
Map
3 S Old Rand Road
Lake Zurich IL, 60047
Interior Features
Total Stories
2
Floor Description
Carpet
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Lot Size
0.19 Acres
Other Property Details
Area Name
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
Taxes
$14,423
Tax Frequency
Annually
Days on Market
21
Garage
No
View
No
County
Lake
Municipality
Ela
Pool
No
Zoning
RTAIL
Courtesy of Coldwell Banker Commercial NRT, Paul Proano,
Listing Contact: 312-860-4043
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 John Morrison 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 4/6/2024. 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.
©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.
Data last updated 11:38 AM UTC, 4/6/2024
