511 Rockland Rd Lake Bluff, IL 60044

This exceptional 2.75-acre property at 511 Rockland Road, Lake Bluff, IL (60044), presents a rare redevelopment opportunity in a thriving commercial corridor. The 5,729 square foot parcel, currently zoned for both commercial and residential use (COMMR), offers significant potential for various developments, including retail, medical, multi-family, or drive-thru establishments. Located in unincorporated Lake Bluff, the property benefits from the possibility of voluntary annexation into the Village of Lake Bluff, which offers financial incentives. The site boasts a highly visible location on Rockland Road (Route 176), directly across from a recently constructed Northwestern Medicine building and new retail developments including Target and Chase Bank. This prime location serves the residents of Lake Bluff and Lake Forest, and benefits from significant daytime employment from Abbott Labs and other nearby businesses. The property includes 21 parking spaces and is currently vacant. The land's value is significant, supported by a recent comparable sale of a 41,040 sq ft parcel in May 2020 for $3,700,000 ($90.16/sq ft). This offering is part of a larger eight-parcel assembly totaling 2.75 acres, presenting the possibility of rezoning the entire assembly for either commercial or residential use. The asking price is $8,750,000. The property features a single-story building constructed in 1960. Lot dimensions are approximately 225 x 109 feet. This is a unique chance to capitalize on the robust growth in this area.