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$1,795,500 -$94,500 (-5%) Price Reduced
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Property Description
Outstanding 28-acre parcel strategically located along highly traveled Route 120, offering excellent visibility, access, and frontage in the heart of Lake County's growth corridor. Zoned General Business (GB) and Shopping Center Business (SCB), this property allows for a wide variety of commercial and mixed-use development opportunities including retail centers, restaurants, medical offices, professional suites, entertainment uses, or potential residential components subject to approvals. Grayslake's business-friendly environment and central location between major regional hubs make this an exceptional opportunity for forward-thinking developers. Utilities are nearby, and surrounding development includes strong national retailers, established residential neighborhoods, and expanding commercial corridors providing a built-in customer base and workforce. A four-bedroom single-family home currently occupies the property and is rented on a month-to-month basis, offering immediate holding income during planning and entitlement. This is one of the few remaining large development sites along Route 120, ideal for investors, builders, and commercial developers seeking scale, flexibility, and high visibility in a thriving market.
Full Property Details
Full Property Details for 18521 W Il Route 120 Hwy
General
- Price: $1,795,500
- Taxes: $7,103 (2024)
- Status: Active
- Type: Farm
- Source: MRED
- MLS ID: 12513982
- Updated: 5/6/2026
- Added to Site: 179 day(s) ago
Interior
- Basement: Cellar
Additional Information
- Other Features: School Bus Service, Commuter Bus
Location
- Area: Gages Lake / Grayslake / Hainesville / Third Lake / Wildwood
- County: Lake
- Township: Warren
- Driving Directions: Route 120 east of Route 45 on South side of road.
School Information
- School District: 50
- Elem School District: 50
- Midd School District: 50
- High School District: 121
Utilities
- Sewer: Storm Sewer
- Water: Municipal Water
- Onsite: Electricity to Site, Natural Gas Available, Sewer Nearby, Water Available
Structural Information
- Basement: Yes
- Basement Desc.: Cellar
- Square Feet: 28.01
- Current Bldg. Use: Agricultural
Lot Features
- Lot Size (Acres): 28.01
- Lot Size (Sq. Ft.): 1,220,272
- Lot Size Range: 25.0 to 99.99 Acres
- Lot Dimensions: 1168 x 785 x 666 x 683 x 701 x 131 x 259
- Frontage: Public Road, State Road
- Frontage Feet: 1
- Street/Road Desc.: Asphalt
- Land Use: Yes
- Zoning: AGRIC
- Lot Description: Rolling Rural
Farm Information
- Farm: Yes
Financial Considerations
- Tax Amount: $7,103
- Tax Year: 2024
- Pays Sewer: Storm Sewer
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 7311000230000
Listed by Baird & Warner
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Schools
Schools serving 18521 W Il Route 120 Hwy
School Districts:Woodland Community Consolidated School District 50, Warren Township High School District 121
| Name | Grades | Distance |
|---|---|---|
Woodland Elementary School, Gages Lake, IL 17261 West Gages Lake Road, Gages Lake, IL 60030 | 1-3 | 1.6 mi |
Woodland Primary School 17366 W Gages Lake Rd, Gages Lake, IL 60030 | PK-K | 1.7 mi |
Woodland Intermediate School 1115 N Hunt Club Rd, Gurnee, IL 60031 | 4-5 | 3.3 mi |
Woodland Middle School 7000 Washington Street, Gurnee, IL 60031 | 6-8 | 2.1 mi |
Warren Township High School 34090 N Almond Rd, Gurnee, IL 60031 | 9-12 | 1.7 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 18521 W Il Route 120 Hwy
Date
Details
Price
Change
Source
5/06/2026
Price Reduced
$1,795,500
-5%
MLS
11/08/2025
Listed
$1,890,000
—
MLS
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 18521 W Il Route 120 Hwy
Year
Property Taxes
Change
Tax Assessment
Change
2024
$7,103
2%
$71,395
6%
2024
$6,930
-5%
$67,442
8%
2023
$7,300
10%
$62,253
-5%
2022
$6,618
4%
$65,866
5%
2021
$6,380
4%
$62,736
3%
2020
$6,156
—
$60,675
4%
2019
$6,156
1%
$58,452
1%
2018
$6,067
2%
$57,931
4%
2017
$5,931
1%
$55,879
-8%
2016
$5,867
-12%
$60,916
6%
2015
$6,649
-2%
$57,656
—
2014
$6,755
17%
$57,656
1%
2013
$5,782
6%
$57,071
-2%
2012
$5,435
—
$58,195
—
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 18521 W Il Route 120 Hwy
Want to learn more about 18521 W Il Route 120 Highway? Do you have questions about finding other Farm real estate for sale in Grayslake? You can browse all Grayslake real estate or contact a Coldwell Banker agent to request more information.

