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$495,000 Just Listed
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Property Description
Excellent opportunity to own a standalone commercial property in a high-visibility, high-traffic location on North Lake Street in the heart of Mundelein. This versatile property features two lots (front and rear), offering a rare combination of retail/office exposure in the front with functional warehouse capability in the rear, along with future redevelopment potential. Key Highlights: Standalone building - ideal for owner-users or investors Prime main road frontage with strong visibility and traffic Dual-lot configuration providing flexibility and added value Rear area supports warehouse use, including truck-accessible loading capability Suitable for distribution, storage, contractor use, light industrial, or mixed-use operations Front portion ideal for retail, office, medical, cafe, or bakery (subject to zoning) Rear lot can be utilized for loading, parking, storage, or expansion Strong redevelopment opportunity - potential for multi-family or apartment development (subject to zoning and municipal approvals) This property is ideal for business owners seeking visibility with operational functionality, as well as developers looking to capitalize on land and location. Bring your vision-retail, bakery, office, warehouse, or future residential development-and unlock the full potential of this highly flexible site. Drive by today and explore the possibilities.
Full Property Details
Full Property Details for 324 N Lake St
General
- Price: $495,000
- Taxes: $9,825 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12353142
- Updated: 4/11/2026
- Added to Site: 1 day(s) ago
Location
- Area: Ivanhoe / Mundelein
- County: Lake
- Driving Directions: south on Route 45 close to W Hawley St. across Walgreens
Heating & Cooling
- Cooling Type: None
- Heating Type: Gas
Structural Information
- Drive-In Doors: 1
- # Loading Docks: 1
- Stories/Levels: 1
- Square Feet: 5,555
- Current Bldg. Use: Automotive, Medical/Dental
- Year Built: 1967
Lot Features
- Lot Size (Sq. Ft.): 18,472
- Lot Dimensions: 336 x 55
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Assessment Year: 1967
- Tax Amount: $9,825.84
- Tax Year: 2023
Disclosures and Reports
- Property ID: 10252060110000
Listed by Re/Max Sawa
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Schools
Schools serving 324 N Lake St
School Districts:Mundelein Elementary School District 75, Mundelein Consolidated High School District 120
| Name | Grades | Distance |
|---|---|---|
Washington Elementary School, Mundelein, IL 122 South Garfield Avenue, Mundelein, IL 60060 | K-2 | 0.6 mi |
Mechanics Grove Elementary School 1200 North Midlothian Road, Mundelein, IL 60060 | 3-5 | 1.3 mi |
Carl Sandburg Middle School, Mundelein, IL 855 West Hawley Street, Mundelein, IL 60060 | 6-8 | 0.6 mi |
Mundelein Cons High School 1350 West Hawley Street, Mundelein, IL 60060 | 9-12 | 0.9 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 324 N Lake St
Date
Details
Price
Change
Source
4/11/2026
Listed
$495,000
86.79%
MLS
10/07/2022
Sold
$265,000
—
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 324 N Lake St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,027
-7%
$82,494
9%
2023
$8,607
4%
$75,585
-5%
2022
$8,243
1%
$79,914
4%
2021
$8,125
-53%
$77,115
3%
2020
$17,396
—
$74,993
-53%
2019
$17,396
-2%
$160,200
—
2018
$17,677
2%
$160,471
3%
2017
$17,278
2%
$155,420
5%
2016
$16,899
2%
$147,611
7%
2015
$16,567
-4%
$138,381
—
2014
$17,335
4%
$138,381
-2%
2013
$16,654
7%
$141,765
-1%
2012
$15,574
—
$143,024
—
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 324 N Lake St
324 N Lake Street, Mundelein, IL 60060 (MLS# 12353142) is a Commercial property. 324 N Lake Street is currently listed for $495,000 and was received on April 11, 2026. Want to learn more about 324 N Lake Street? 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.

