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17 E Main Street, Lake Zurich, IL 60047
$2,000,000
17 E Main Street, Lake Zurich, IL 60047View this property at 17 E Main Street, Lake Zurich, IL 60047
17 E Main StreetLake ZurichIL60047
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Property Description
Seller Financing Available! Prime real estate potential development opportunity on the corner of Main St and Old Rand Rd in the heart of downtown Lake Zurich, IL. Located at two main crossroads of the rapidly redeveloping Main Street Commercial District, this zoned B-2 and .5 (21,780SF) of an acre redevelopment opportunity Is located in the TIF district where a developer can work hand in hand with the village of Lake Zurich to develop some type of mixed-use property or residential living development. The site currently has three buildings ( lots and businesses can be sold separately) located on the property, two retail structures and one house. The property offers 59' feet of frontage on Main Street and 260' feet on old Rand Road with 17,000 vehicles per day passing through the intersection while located at a four-way intersection. The property has four Pin#s:1420102010,1420102008,1420102004,1420201003 addresses 17 E. Main St, 44 S. Old Rand Rd, 36 S. Old Rand Rd & 20 S. Old Rand Rd. A RESOURCE GUIDE TO TAX INCREMENT FINANCING (TIF) What Is TIF? Tax Increment Financing (TIF) is a program that allocates future increases in property taxes from a designated area, or TIF district, to pay for improvements within that area. In Illinois, the TIF district can remain in place for up to 23 years after its creation. The district can be extended for another 12 years, but an extension requires an act of the state legislature. Other states' laws regarding TIF vary, but the key principles are similar across the country.
Full Property Details
Full Property Details for 17 E Main St
General
- Price: $2,000,000
- Taxes: $19,187 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 11783311
- Updated: 9/14/2023
- Added to Site: 349 day(s) ago
Location
- Area: Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
- County: Lake
- Township: Ela
- Driving Directions: Halfday Rd/IL-22 to North of W. Main St Or Old Rand Rd. Arrive at the intersection of Old Rand Rd And Main Street.
- Location Details: Northwest Suburban, North Suburban, Central Business District, Corner, Suplmtl Enterprise Zone
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls
Utilities
- Onsite: Electricity to Site, Gas to Site, Sanitary Sewer, Water to Site
Structural Information
- Construction: Brick, Concrete
- Stories/Levels: 1
- Current Bldg. Use: Commercial, Retail
- Year Built: 1950
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.5
- Lot Size (Sq. Ft.): 23,522
- Lot Dimensions: 59 x 150 x 87 x 55 x 50 x x 100 171 x 27 x 150 x 108
- Frontage: City Street
- Potential Use: Commercial, Conditional Use, Retail
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Operating Expenses: $9,999,999
- Assessment Year: 1950
- Tax Amount: $19,187.9
- Tax Year: 2022
Disclosures and Reports
- Property ID: 14201020100000
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Schools
Schools serving 17 E Main St
School District:Lake Zurich Community Unit School District 95
Rating | Name | Grades | Distance |
---|---|---|---|
100 Church St, Lake Zurich, IL 60047 | PK-5 | 0.3 mi | |
95 Hubbard Ln, Hawthorn Wds, IL 60047 | 6-8 | 2 mi | |
300 Church St, Lake Zurich, IL 60047 | 9-12 | 0.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
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 17 E Main St
Date
Details
Price
Change
Source
5/14/2023
Listed
$2,000,000
—
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 17 E Main St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$6,342
3%
$82,089
2%
2022
$6,130
2%
$80,503
3%
2021
$6,019
2%
$78,440
—
2020
$5,926
—
$78,440
1%
2019
$5,926
2%
$77,756
3%
2018
$5,802
1%
$75,807
1%
2017
$5,726
2%
$74,894
3%
2016
$5,623
1%
$72,523
5%
2015
$5,557
62%
$69,076
—
2014
$3,432
6%
$69,076
65%
2013
$3,228
5%
$41,862
5%
2012
$3,067
—
$40,044
—
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 17 E Main St
17 E Main Street, Lake Zurich, IL 60047 (MLS# 11783311) is a Commercial property. 17 E Main Street is currently listed for $2,000,000 and was received on May 14, 2023. This property is listed by Paul Proano from our McMullen/O'Hare Office.Want to learn more about 17 E Main Street? Do you have questions about finding other Commercial real estate for sale in Lake Zurich? You can browse all Lake Zurich real estate or contact a Coldwell Banker agent to request more information.