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Value is in the land for redevelopment. Consists of one single family townhome located at 512 W Washington Avenue in unincorporated Lake Bluff. Three other townhomes in the Knollwood Townhomes are also for sale under separate listings. The Sunset Motel located at 511 Rockland Road and 8 Skokie Valley Road Office Building are being sold separately under MLS #'s 11392402 and 11392405. Sunset Motel is currently open and operating. Office building at 8 Skokie BLVD has a few month to month tenants in place. SFH at 11 Shagbark is rented with a month to month lease in place. PIN numbers 12-19-206-014, 12-19-206-15, 12-19-206-010 and 12-19- 206-007. Other properties in this offering are the former Knollwood Fire Station and three single family homes located on Shagbark Road. Rare North Shore commercial redevelopment land acquisition opportunity available in Lake Bluff, IL. Major market areas include Lake Bluff, Lake Forest, Green Oaks and Libertyville, IL. General Commercial and Residential Zoning currently in place. Located in unincorporated Lake Bluff - Current Lake County Zoning. Buyer could voluntarily annex into the Village of Lake Bluff - Lake Bluff willing to offer financial incentives! Recent developments include new Target & Chase Bank plus retail strip malls directly across the street on Route 176 (Rockland Road) Adjacent to the brand new Northwestern Medicine building that just sold for $8,150,000 in 2021, which is located directly across the street on Route 176. Sold in May of 2020 for $3,700,000 for 41,040 sq ft parcel. This sales comparable sold for $90.16 per sq ft. Thriving commercial corridor serving Lake Bluff & Lake Forest residents plus large daytime employment from Abbott Labs and many surrounding businesses. Value is in the land! This offering is part of a larger eleven-parcel assembly of contiguous properties that total 168,811 or 3.90 acres of commercial and residential land. Possible rezoning of all parcels to be either commercial or residential. Future use for new retail, medical, multi-family, drive-thru etc. Contact John Josephitis for full Offering Memorandum and complete details on the overall development opportunity.
Assessments Include: Common Insurance, Security System, Lawn Care, Scavenger, Snow Removal
Total Rooms: 5
Master Bedroom: 15X11
Bedroom 2: 11X11
Living Room: 15X11
Family Room: 18X11
Based on information submitted to the MLS GRID as of 1/27/2023 11:02 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
Listed by: John Josephitis - Coldwell Banker Realty Source: MRED as distributed by MLS GRID