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$470,000
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Property Description
This two parcel land property is separated by a side street. The main parcel, which includes the restaurant building, is positioned at the southeast corner of the signalized intersection of Main Street (IL-22) and Ela Road. The parking parcel is positioned at the Southeast corner of Ela Road and Maple Avenue. The total combined site are is 32,203 square feet (0.74 acre). Both parcels include paved parking lots with a total of 62 parking spaces(23.25 spaces per 1,000 square feet of building area). Site improvements include a dining patio, signage, Municipal water, sanitary sewer, electricity gas and telephone service are all available. Current Zoning is B-1 ( Local and Community Business District by the Village of Lake Zurich). The Restaurant building built in 1981 is a one and part two-story full service bar/restaurant building of masonry and frame construction. It has a ground floor area of 2,175 square feet and second floor being 480 square feet totaling a gross building area of 2,655 square feet. There is also a full usable basement which stores two walk in coolers and can be used for dry storage. Zoning permitted uses in the district include most retail, commercial service, restaurants, banks, medical and professional offices and fitness facilities. Uses requiring a special use permit include live entertainment accessory to a restaurant, drive-through facilities, auto repair shops, gas stations, child day care facilities, hotels, veterinary offices, pet grooming services and contractors offices/yards.
Full Property Details
Full Property Details for 500 Ela Rd
General
- Sold For: $470,000
- Taxes: $14,321 (2021)
- Status: Closed
- Type: Lots/Land
- Source: MRED
- MLS ID: 11693975
- Added to Site: 1, 158 day(s) ago
Location
- Area: Hawthorn Woods / Lake Zurich / Kildeer / Long Grove
- County: Lake
- Driving Directions: Southeast Corner of Main (Rt. 22) & Ela
- Location Details: Central Business District, High Traffic Area
School Information
- School District: 95
- Midd School District: 95
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Natural Gas, Forced Air
Utilities
- Onsite: Electricity to Site, Gas to Site, Sanitary Sewer, Storm Sewer Available, Commuinty Well, Shared Well
Structural Information
- Square Feet: 0.74
- Current Bldg. Use: Commercial
Lot Features
- Lot Size (Acres): 0.74
- Lot Size (Sq. Ft.): 32,203
- Lot Size Range: .50 to .99 Acre
- Lot Dimensions: 134 x 264 + 66 x 132
- Frontage: City Street
- Frontage Feet: 266
- Street/Road Desc.: Asphalt
- Driveway/Sidewalk: Asphalt
- Potential Use: Commercial, Conditional Use, Liquor License, Office and Research, Development, Retail
- Zoning: COMMR
- Lot Description: Level
Financial Considerations
- Tax Amount: $14,321
- Tax Year: 2021
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 14203020010000
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Schools
Schools serving 500 Ela Rd
School District:Lake Zurich Community Unit School District 95
| Name | Grades | Distance |
|---|---|---|
May Whitney Elementary School 200 Church St, Lake Zurich, IL 60047 | K-5 | 1 mi |
Lake Zurich Middle - N Campus 95 Hubbard Lane, Hawthorn Woods, IL 60047 | 6-8 | 2.5 mi |
Lake Zurich High School 300 Church Street, Lake Zurich, IL 60047 | 9-12 | 1.3 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 500 Ela Rd
Date
Details
Price
Change
Source
6/30/2023
Sold
$470,000
-15.92%
MLS
6/01/2023
Price Reduced
$559,000
-6.68%
MLS
5/08/2023
Price Reduced
$599,000
-14.31%
MLS
5/01/2023
Price Reduced
$699,000
-3.59%
MLS
3/20/2023
Price Reduced
$725,000
-3.33%
MLS
12/31/2022
Listed
$750,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
500 Ela Road, Lake Zurich, IL 60047 (MLS# 11693975) is a Lots/Land property that was sold at $470,000 on June 30, 2023. This property was listed by Paul Proano from our McMullen/O'Hare Office.Want to learn more about 500 Ela Road? Do you have questions about finding other Lots/Land 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.


