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511 Rockland Road, Lake Bluff, IL 60044
$1,975,000
511 Rockland Road, Lake Bluff, IL 60044View this property at 511 Rockland Road, Lake Bluff, IL 60044
511 Rockland RoadLake BluffIL60044
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Property Description
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.
Full Property Details
Full Property Details for 511 Rockland Rd
General
- Price: $1,975,000
- Taxes: $12,242 (2021)
- Status: Active
- Type: Commercial
- MLS ID: 11392402
- Updated: 3/29/2024
- Added to Site: 760 day(s) ago
Parking
- Parking Features: 19 to 30 Spaces
Location
- Area: Lake Bluff
- County: Lake
- Township: Shields
- Driving Directions: Located at the intersection of Route 176 and Route 41. Rockland Road and Skokie Highway.
- Location Details: Central Business District
Heating & Cooling
- Heating Type: Central Building Heat
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Composition
- Stories/Levels: 1
- Square Feet: 5,729
- Current Bldg. Use: Single-Room Occupancy
- Year Built: 1960
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.5
- Lot Size (Sq. Ft.): 21,918
- Lot Dimensions: 225 x 109
- Frontage: Frontage Road, State Road
- Potential Use: Commercial, Office and Research, Development, Multi-Family, Retail
- Zoning: COMMR
Financial Considerations
- Assessment Year: 1960
- Tax Amount: $12,242
- Tax Year: 2021
- Tenant Pays: None
Disclosures and Reports
- Property ID: 12192060140000
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Schools
Schools serving 511 Rockland Rd
School Districts:Lake Bluff Elementary School District 65, Lake Forest Community High School District 115
Rating | Name | Grades | Distance |
---|---|---|---|
350 W Washington Ave, Lake Bluff, IL 60044 | K-5 | 0.8 mi | |
31 E Sheridan Pl, Lake Bluff, IL 60044 | 6-8 | 1.4 mi | |
1285 N McKinley Rd, Lake Forest, IL 60045 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
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Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 511 Rockland Rd
Date
Details
Price
Change
Source
1/20/2024
Price Reduced
$1,975,000
-34.39%
MLS
5/03/2022
Listed
$3,010,000
484.47%
MLS
4/29/2002
Sold
$515,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 511 Rockland Rd
Year
Property Taxes
Change
Tax Assessment
Change
2023
$11,801
2%
$206,322
20%
2022
$11,558
2%
$171,799
1%
2021
$11,326
4%
$170,317
-1%
2020
$10,927
-1%
$171,259
2%
2019
$10,983
25%
$168,115
24%
2018
$8,770
2%
$136,032
2%
2017
$8,631
4%
$133,758
5%
2016
$8,331
1%
$127,316
6%
2015
$8,267
-2%
$119,883
—
2014
$8,437
3%
$119,883
—
2013
$8,220
7%
$119,881
-4%
2012
$7,677
—
$125,462
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 511 Rockland Rd
511 Rockland Road, Lake Bluff, IL 60044 (MLS# 11392402) is a Commercial property. 511 Rockland Road is currently listed for $1,975,000 and was received on May 03, 2022. This property is listed by John Josephitis from our Lake Forest Office.Want to learn more about 511 Rockland Road? Do you have questions about finding other Commercial real estate for sale in Lake Bluff? You can browse all Lake Bluff real estate or contact a Coldwell Banker agent to request more information.