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$3,950,000 -$649,000 (-14.11%) Price Reduced

  • For Sale
  • Active
  • Commercial
  • Updated 20 hours ago
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Prime 17+ Acre Development Opportunity. Gages Lake, Illinois Residential - Commercial - Institutional - Luxury Estate Potential. Introducing a rare and versatile 17+ acre infill parcel in the heart of Lake County offering unmatched flexibility for residential subdivision, mixed-use commercial, Institutional, or private paradise estate development. Property Highlights Size: 17+ Acres Structures: 3 Existing Residential Homes (1 building is a duplex with rental income). Zoning: Split Zoning Residential & Commercial. Location: Borders a school and the established 35-home Wooded Glen Subdivision. Features: Central retention pond (ideal for future park/amenity) Utilities: Gas & Electric onsite. Access: High visibility frontage on Gages Lake Road. Development Potential. Residential Subdivision: 30-36 single-family lots (precedent set by adjacent subdivision). Mixed-Use Plan: 4-6 acres commercial frontage + 25-30 residential homes in rear. Institutional/Educational Campus: Charter/private school, religious center, assisted living, or retreat campus. Luxury Compound: Multi-generational gated estate or equestrian property using existing homes. Flexible Zoning reduces rezoning risk. Strategic Location: Adjacency to school ensures strong demand and community integration. Amenity Potential: Retention pond can be enhanced as a visual and recreational centerpiece. A rare, high-demand parcel ideal for developers, institutions, or private paradise estate buyers looking to create something extraordinary! --CONFIRMED SHOWINGS REQUIRED TO VIEW THE PROPERTY-

Full Property Details for 18238 W Gages Lake Rd

General

  • Price: $3,950,000
  • Taxes: $33,151 (2024)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12508197
  • Updated: 3/7/2026
  • Added to Site: 129 day(s) ago

Additional Information

  • Security/Safety: Other

Location

  • Area: Gages Lake / Grayslake / Hainesville / Third Lake
  • County: Lake
  • Township: Warren
  • Driving Directions: GAGES LAKE & HUNT CLUB W2 Property.
  • Location Details: North Suburban

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Other

Utilities

  • Sewer: Septic Tank
  • Water: Well
  • Onsite: Electricity to Site, Natural Gas Available

Structural Information

  • Stories/Levels: 2
  • Year Built: 1969
  • Built Before 1978: Yes

Lot Features

  • Lot Size (Acres): 17
  • Lot Size (Sq. Ft.): 871,200
  • Lot Dimensions: Appro x . 17+ Acres
  • Zoning: OTHER

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Security Deposit: Other
  • Assessment Year: 1969
  • Tax Amount: $33,151
  • Tax Year: 2024
  • Pays Sewer: Septic Tank

Disclosures and Reports

  • Property ID: 7302000060000
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 18238 W Gages Lake Rd —

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Schools serving 18238 W Gages Lake Rd

School Districts:Woodland Community Consolidated School District 50, Warren Township High School District 121
NameGradesDistance
Woodland Primary School
17366 W Gages Lake Rd, Gages Lake, IL 60030
PK-K0.8 mi
Woodland Elementary School, Gages Lake, IL
17261 West Gages Lake Road, Gages Lake, IL 60030
1-30.9 mi
Woodland Intermediate School
1115 N Hunt Club Rd, Gurnee, IL 60031
4-52.1 mi
Woodland Middle School
7000 Washington Street, Gurnee, IL 60031
6-80.9 mi
Warren Township High School
34090 N Almond Rd, Gurnee, IL 60031
9-120.4 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 18238 W Gages Lake Rd Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/07/2026
Price Reduced
$3,950,000
-14.11%
MLS
10/30/2025
Listed
$4,599,000
—
MLS
Get Price Alerts and Save Property
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 for 18238 W Gages Lake Rd

Year
Property Taxes
Change
Tax Assessment
Change
2024
$10,155
15%
$124,999
8%
2023
$8,822
11%
$116,051
18%
2022
$7,966
3%
$98,594
4%
2021
$7,715
3%
$94,638
3%
2020
$7,487
—
$92,311
3%
2019
$7,477
-18%
$89,631
-16%
2018
$9,069
14%
$106,851
3%
2017
$7,953
-10%
$103,789
5%
2016
$8,806
3%
$99,167
5%
2015
$8,578
-2%
$94,051
—
2014
$8,728
4%
$94,051
1%
2013
$8,371
4%
$93,490
-2%
2012
$8,014
—
$95,805
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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18238 W Gages Lake Road, Grayslake, IL 60030 (MLS# 12508197) is a Commercial property. 18238 W Gages Lake Road is currently listed for $3,950,000 and was received on October 30, 2025. This property is listed by Mercfoss Team from our Lake Forest Office.Want to learn more about 18238 W Gages Lake Road? Do you have questions about finding other Commercial real estate for sale in Grayslake? You can browse all Grayslake real estate or contact a Coldwell Banker agent to request more information.

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