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$499,000 Just Listed
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Property Description
Exceptional commercial development opportunity on nearly 4.5 acres with 304 feet of frontage on highly traveled IL Route 120 in Grayslake! Zoned General Business (GB), this prime property offers incredible flexibility for a wide variety of commercial, retail, office, service, or mixed-use possibilities (subject to municipal approval). The property currently features a large existing home, along with a working well and septic system, providing immediate functionality while you finalize development plans. Whether you're looking for temporary office space, a business headquarters, or an interim use before redevelopment, the existing structure offers valuable flexibility. City water and sewer are available for future expansion and development. With outstanding visibility, easy access, and a high daily traffic count, this location offers exceptional exposure for your business or investment. Opportunities with nearly 4.5 acres, 304 feet of highway frontage, flexible General Business zoning, and city utilities available are becoming increasingly rare. Bring your vision and capitalize on one of Grayslake's premier commercial corridors!
Full Property Details
Full Property Details for 18745 W Il 120 Rte
General
- Price: $499,000
- Taxes: $12,516 (2025)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12712864
- Updated: 7/29/2026
- Added to Site: 6 day(s) ago
Location
- Area: Gages Lake / Grayslake / Hainesville / Third Lake / Wildwood
- County: Lake
- Township: Warren
- Driving Directions: Hwy 45 south to Route 120. West on 120to property on North side of the road. - Easiest to use Waukegan Tire in Grayslake address to find this, it's directly across the street.
- Location Details: Out of Area
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Structural Information
- Stories/Levels: 1
- Current Bldg. Use: Automotive
- Year Built: 1981
Lot Features
- Lot Size (Acres): 4.48
- Lot Size (Sq. Ft.): 195,149
- Lot Dimensions: 304 x 670 x 299 x 632
- Frontage: State Road
- Zoning: OTHER
Financial Considerations
- Assessment Year: 1981
- Tax Amount: $12,516
- Tax Year: 2025
Disclosures and Reports
- Property ID: 7311000290000
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Schools
Schools serving 18745 W Il 120 Rte
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 | 1.7 mi |
Woodland Primary School 17366 W Gages Lake Rd, Gages Lake, IL 60030 | PK-K | 1.8 mi |
Woodland Intermediate School 1115 N Hunt Club Rd, Gurnee, IL 60031 | 4-5 | 3.4 mi |
Woodland Middle School 7000 Washington Street, Gurnee, IL 60031 | 6-8 | 2.2 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 18745 W Il 120 Rte
Date
Details
Price
Change
Source
7/23/2026
Listed
$499,000
—
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 18745 W Il 120 Rte
Year
Property Taxes
Change
Tax Assessment
Change
2024
$10,986
3%
$140,219
17%
2024
$10,654
7%
$120,319
8%
2023
$9,992
10%
$111,706
10%
2022
$9,081
3%
$101,153
4%
2021
$8,802
3%
$97,094
3%
2020
$8,548
—
$94,708
3%
2019
$8,548
-11%
$91,959
-10%
2018
$9,566
1%
$102,335
3%
2017
$9,453
1%
$99,402
5%
2016
$9,314
2%
$94,976
5%
2015
$9,119
-2%
$90,076
—
2014
$9,295
4%
$90,076
1%
2013
$8,915
5%
$89,538
-2%
2012
$8,527
—
$91,756
—
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 18745 W Il 120 Rte
18745 W Il 120 Route, Grayslake, IL 60030 (MLS# 12712864) is a Commercial property. 18745 W Il 120 Route is currently listed for $499,000 and was received on July 23, 2026. Want to learn more about 18745 W Il 120 Route? 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.

