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506 W WASHINGTON Avenue, Lake Bluff, IL 60044
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$340,000
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Home Details for 506 W WASHINGTON Avenue
Price
$340,000
Type
single family
Bedrooms
2
Total Bathrooms
2.0
Full Bathrooms
1.0
Half Bathrooms
1.0
Year Build
1973
Sq. Ft.
984
County
Lake
Total Rooms
5
Basement
Full
Tax
$2,856.11
Hoa
$125
MLS®️ Listing#
11687316
On exitrealty.com
730 days
Property Description
Value is in the land for redevelopment. Consists of one single family townhome located at 506 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 is being sold separately under MLS 11392402. Sunset Motel is currently open and operating. 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 are also for sale. Other properties in this offering are 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 about 120,000 sq ft or 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.
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School Information
School Information for 506 W WASHINGTON Avenue
Elementary School
Lake Bluff Elementary School
Middle School
Lake Bluff Middle School
High School
Lake Forest High School
Listing courtesy: Coldwell Banker Realty - 847-234-8000
Properties are provided courtesy of the MLS of Northern Illinois, Inc. Broker Reciprocity Database. Information Deemed Reliable but Not Guaranteed. Based on information submitted to the MRED as of last update. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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.
Last Updated: 2024-10-27 02:12:26
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