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511 Rockland Road

Lake Bluff, Illinois, 60044, United States

Property ID: #851277 // commercial
511 Rockland Road
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Traditional Sale
List Price:
$1,975,000.00
Icon - ft²
Icon 0.5 acres
Icon - beds
Icon - baths
Address:
511 Rockland Road
City:
Lake Bluff
State:
Illinois
Municipality or Township:
Shields
Zip Code:
60044
County:
Lake
Country:
United States
Property Type:
Commercial
Additional Property Types:
Multi-Family
Year Built:
1960
Lot Size:
0.5 acres
Data Source:
Midwest Real Estate Data
MLS/Reference Number(s):
MRD11392402
Source Status:
Active
Source Property Type:
Commercial, Multi Family 5+

Property Provided By

  • John Josephitis
  • Coldwell Banker Realty
  • +1 (847) 373-1766
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Property Information

Value is in the land for redevelopment. The Sunset Motel is located at 511 Rockland Road. 8 Skokie Valley Road Office Building and one single family home located at 11 Shagbark Road is being sold separately under MLS #'s 11392405 and 11392412 . Seller will sell this four parcel lot package with a total of 62,624 sq foot combined parcel at $5,900,000. 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. 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 eight-parcel assembly of contiguous properties that total 2.75 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.

Directions

Located at the intersection of Route 176 and Route 41. Rockland Road and Skokie Highway.

Source Disclaimer

Midwest Real Estate Data

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Courtesy of Coldwell Banker Realty.
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This content last updated on 2024-04-08 19:58:01. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.


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