17 E Main Street, Lake Zurich (60047)
$2,000,000
0 
0
23,522
PROPERTY DETAILS
| Address: |
view address Lake Zurich, IL 60047 Map Location |
Features: | Air Conditioning |
|---|---|---|---|
| Square Feet: | 23,522 sq.ft. | Lot Size: | 0.54 acres |
| Year Built: | 2000 | Property Type: | Land |
| County: | Lake | List Date: | 2023-05-16 |
| Listing Number: | 11784067 | Listed By: | Coldwell Banker Commercial NRT |
PROPERTY DESCRIPTION
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.
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Interior
| Air Conditioning: | Yes | Central Air: | Yes |
Exterior
| Shared Driveway: | Yes |
Property and Lot Details
| Frontage: | 59.00 | Lot Acres: | 0.54 |
| Lot Dimension: | 59X150X87X55X50XX100 171X27X150X108 | Lot On Municipal Road: | Yes |
| Lot Zoned: | COMMR | Sewer: | Yes |
| Taxes: | 19,187.87 | Transaction Type: | Sale |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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