Active
508 W WASHINGTON Avenue
Lake Bluff IL, 60044
$340,000
$345.53 per sqft
Active
2 Beds
2 Baths
984 sqft
Town House
Built in 1973
Courtesy of Coldwell Banker Realty
Value is in the land for redevelopment. Consists of one single family townhome located at 508 W Washington Avenue in unincorporated Lake Bluff. Three other townhomes in the Knollwood Townhomes are also for sale under separate listings. The Sunset Motel located at 511 Rockland Road is being sold separately under MLS 11392402. Sunset Motel is currently open and operating. 11 Shagbark is rented with a month to month lease in place. PIN numbers 12-19-206-014, 12-19-206-15 and 12-19- 206-007 are also for sale. Other properties in this offering are three single family homes located on Shagbark Road. Rare North Shore commercial redevelopment land acquisition opportunity available in Lake Bluff, IL. Major market areas include Lake Bluff, Lake Forest, Green Oaks and Libertyville, IL. General Commercial and Residential Zoning currently in place. Located in unincorporated Lake Bluff - Current Lake County Zoning. Buyer could voluntarily annex into the Village of Lake Bluff - Lake Bluff willing to offer financial incentives! Recent developments include new Target & Chase Bank plus retail strip malls directly across the street on Route 176 (Rockland Road) Adjacent to the brand new Northwestern Medicine building that just sold for $8,150,000 in 2021, which is located directly across the street on Route 176. Sold in May of 2020 for $3,700,000 for 41,040 sq ft parcel. This sales comparable sold for $90.16 per sq ft. Thriving commercial corridor serving Lake Bluff & Lake Forest residents plus large daytime employment from Abbott Labs and many surrounding businesses. Value is in the land! This offering is part of a larger eleven-parcel assembly of contiguous properties that total about 120,000 sq ft or 2.75 acres of commercial and residential land. Possible rezoning of all parcels to be either commercial or residential. Future use for new retail, medical, multi-family, drive-thru etc. Contact John Josephitis for full Offering Memorandum and complete details on the overall development opportunity.
11687323
MLSⓇ ID
December 13, 2022
Listed
August 23, 2024
Updated
Map
508 W WASHINGTON Avenue
Lake Bluff IL, 60044
Interior Features
Total Stories
2
Bedrooms
2
Total Bathrooms
2
Full Bathrooms
1
Half Bathrooms
1
Interior Features
Hardwood Floors, Laundry Hook-Up in Unit
Appliances
Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal
Fireplace
No
Cooling
Yes
Cooling Description
Window/Wall Units - 2
Heating
Yes
Heating Description
Electric, Baseboard
Exterior/Building Features
Exterior Features
Storms/Screens, Outdoor Grill
Lot Features
Landscaped
Roof
Asphalt
Sewer
Public Sewer
School Information
School District
65
High School
Lake Forest High School
Elementary School
Lake Bluff Elementary School
Other Property Details
Area Name
Lake Bluff
Taxes
$2,993
Tax Frequency
Annually
Days on Market
614
Association Fee
$125
Association Fee Frequency
Monthly
Association Amenities
Storage
Garage
No
Parking
Assigned
Parking Total
2
View
No
County
Lake
Municipality
Shields
Water Source
Lake Michigan
Pool
No
Courtesy of Coldwell Banker Realty, John Josephitis,
Listing Contact: 847-373-1766
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Data last updated 6:52 PM UTC, 8/23/2024