508 W WASHINGTON AVE Active Save Request In-Person Tour Request Virtual Tour
Lake Bluff,IL 60044
Key Details
Property Type Townhouse
Sub Type Townhouse-2 Story
Listing Status Active
Purchase Type For Sale
Square Footage 984 sqft
Price per Sqft $345
MLS Listing ID 11687323
Bedrooms 2
Full Baths 1
Half Baths 1
HOA Fees $125/mo
Year Built 1973
Annual Tax Amount $2,993
Tax Year 2021
Property Description
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.
Location
State IL
County Lake
Area Lake Bluff
Interior
Heating Electric,Baseboard
Cooling Window/Wall Units - 2
Equipment TV-Cable,Security System,CO Detectors,Ceiling Fan(s),Sump Pump
Exterior
Exterior Feature Storms/Screens,Outdoor Grill
Amenities Available Storage
Waterfront false
Roof Type Asphalt
Building
Lot Description Landscaped
Dwelling Type Attached Single
Story 2
Sewer Public Sewer
Water Lake Michigan
New Construction false
Schools
Elementary Schools Lake Bluff Elementary School
Middle Schools Lake Bluff Middle School
High Schools Lake Forest High School
School District 65 ,65, 115
Others
Special Listing Condition None
Pets Description No