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Property Description
Prime Commercial Mixed-Use Opportunity | 2.91 Acres | Mundelein, IL | $1,500,000 Rarely does a commercial opportunity this well-positioned come to market. Situated at the highly visible intersection of Route 176, Route 60/83, and Schank Road in Mundelein, Illinois, this 2.91-acre commercial mixed-use property offers an exceptional combination of location, flexibility, and immediate livability. With IDOT-reported daily traffic counts averaging 15,000 to 20,000 vehicles, your business will enjoy outstanding visibility and consistent exposure in one of the area's most sought-after corridors. The surrounding community boasts a median household income exceeding $108,000, reflecting a strong and affluent customer base ready to support your venture. Positioned at the heart of one of Lake County's fastest-growing markets, this property is surrounded by new and expanding residential subdivisions bringing a steady influx of new households-and new customers-directly to your doorstep. The area's rapid residential growth is matched by a thriving and expanding retail corridor nearby, with shopping, dining, and service businesses continuing to grow and attract even more traffic to the region. Getting in now means positioning your business ahead of the curve as the community continues to flourish. The commercial mixed-use zoning unlocks a wide range of permitted uses-including car wash, fast food, landscaping operations, and much more-making this an ideal canvas for a variety of entrepreneurial visions. Adding to the property's versatility is a residential home that provides the perfect live-and-work setup. The home features two generously sized bedrooms, a full kitchen, a large bathroom, and an unfinished full basement with laundry-offering ample room to expand and customize. A large garage adjacent to the home provides convenient storage for vehicles and equipment. The separate office building allows you to work right by your home and literally walk a few steps home. Whether you're an owner-operator looking to plant roots, an investor seeking high-visibility commercial land, or an entrepreneur ready to build your next venture-this property checks every box. Seize this rare opportunity to own a high-traffic, strategically located commercial asset right in the path of Mundelein's exciting growth.
Full Property Details
Full Property Details for 20922 W Il Route 176 Rte
General
- Price: $1,500,000
- Taxes: $22,475 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12616692
- Updated: 4/11/2026
- Added to Site: 1 day(s) ago
Location
- Area: Ivanhoe / Mundelein
- County: Lake
- Driving Directions: Illinois Route 176 to the property. Property is located at Route 176 and Schank Avenue. Just past muffler shop.
- Location Details: North Suburban, Mixed-Use Area
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Utilities
- Trash: 80
- Onsite: Electricity to Site, Natural Gas Available
Structural Information
- Stories/Levels: 1
- Square Feet: 1,725
- Current Bldg. Use: Commercial
- Year Built: 1951
- Built Before 1978: Yes
Unit Information
- Units w/Range/Oven: 1
- # Dryers: 1
Lot Features
- Lot Size (Sq. Ft.): 136,343
- Lot Dimensions: 405.2 x 244.8 x 284.4 x 119.9 x 35.9 x 132.4
- Frontage: State Road
- Zoning: COMMR
Financial Considerations
- Lease Price: $2,500
- Insurance Fee: $3,000
- Other Fee: $100
- Assessment Year: 1951
- Tax Amount: $22,475
- Tax Year: 2024
- Pays Electric: 1200
- Pays Trash: 80
Disclosures and Reports
- Property ID: 10231000420000
Listed by Baird & Warner
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Schools
Schools serving 20922 W Il Route 176 Rte
School Districts:Mundelein Consolidated High School District 120, Fremont School District 79
| Name | Grades | Distance |
|---|---|---|
Fremont Elementary School, Mundelein, IL 28908 North Fremont Center Road, Mundelein, IL 60060 | PK-2 | 1.7 mi |
Fremont Intermediate School 28754 North Fremont Center Road, Mundelein, IL 60060 | 3-5 | 1.7 mi |
Fremont Jr High/Middle School 28871 North Fremont Center Road, Mundelein, IL 60060 | 6-8 | 1.6 mi |
Mundelein Cons High School 1350 West Hawley Street, Mundelein, IL 60060 | 9-12 | 1.1 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 20922 W Il Route 176 Rte
Date
Details
Price
Change
Source
4/11/2026
Listed
$1,500,000
200%
MLS
11/12/2013
Sold
$500,000
—
Public Record
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 20922 W Il Route 176 Rte
Year
Property Taxes
Change
Tax Assessment
Change
2024
$21,933
100%
$288,849
9%
2023
100%
$264,659
118%
2022
100%
$121,179
4%
2021
-100%
$116,934
3%
2020
$9,330
—
$113,716
-8%
2019
$9,332
-10%
$123,234
—
2018
$10,422
27%
$123,444
28%
2017
$8,178
2%
$96,295
5%
2016
$8,047
1%
$91,457
7%
2015
$7,990
-1%
$85,738
—
2014
$8,068
18%
$85,738
1%
2013
$6,826
58%
$84,594
-7%
2012
$4,327
—
$90,550
—
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 20922 W Il Route 176 Rte
20922 W Il Route 176 Route, Mundelein, IL 60060 (MLS# 12616692) is a Commercial property. 20922 W Il Route 176 Route is currently listed for $1,500,000 and was received on April 11, 2026. Want to learn more about 20922 W Il Route 176 Route? Do you have questions about finding other Commercial real estate for sale in Mundelein? You can browse all Mundelein real estate or contact a Coldwell Banker agent to request more information.

