105 Main StLake Zurich, IL 60047

Property Details for 105 Main St

Year built

1885

Construction

FRAME

Lot size

0.20 AC

Property size (Sq ft)

7,912 SF

Property type

Office buildings

APN

09-26-409-004

APU

926409004

Description

This exceptional 1-acre parcel presents a unique investment opportunity in the heart of downtown Lake Zurich, Illinois. Located within a Tax Increment Financing (TIF) district, this fee-simple property offers significant potential for mixed-use development, encompassing retail, commercial, and residential uses. The site boasts 262 feet of frontage on Main Street and irregular dimensions (approximately 262x132x77.50x32x170x27x107). The TIF district actively supports redevelopment, aiming to revitalize the downtown area into a vibrant, mixed-use hub. This initiative includes provisions for enhanced parking, streetscaping, landscaping, and improvements to public facilities like parks. The property's strategic location offers convenient access to all utilities and is situated just 180 feet from the lake and promenade, and 650 feet from Breezewald Beach and Sunset Pavilion Beer Garden. An adjacent 1.62-acre village-owned parcel presents a potential opportunity for combination and larger-scale redevelopment. The property's zoning is B-2. Parcel numbers are 14-20-104-001, 14-20-104-002, and 14020-104-005. The asking price is $2,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,428,606

  6.5%

  $1,318,713

  7%

  $1,224,519

• Comparable approach

  Method

  Valuation

  Relative Method

  $803,251

  Geo Method

  $1,030,538

• Alternative Use

  Use

  Valuation

  Residential

  $1,635,204

  Hospitality

  $1,497,838

  Educational

  $1,246,184

  Medical

  $1,289,042

  Retail

  $1,938,508

Location Insight

City

Wauconda

County

Lake

State

Illinois

Latitude

42.2598

Longitude

-88.1414

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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