3 S Old Rand Road, Lake Zurich, Illinois 60047

$800,000
List Price
$800,000
MLS#
12006867
Status
ACTIVE
Type
Commercial
Subtype
Commercial Sale
County
Lake
City
Lake Zurich
Neighborhood
Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
Days On Market
35

Property Description

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.

Additional Information

Tax Year
2022
Year Built
1967
Exterior Building Type
Combination
Lot Dimensions
.25
Air Conditioning
Central Air

Mortgage Calculator

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Calculator source: Real Geeks

Listings courtesy of Midwest Real Estate Data as distributed by MLS Grid



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