REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

JgR Online Concierge

[email protected] +1(630) 491-4615

$ 17,589,548

Est. payment -/mo

Save

Active

5N210 Central RD Itasca, IL 60143

20.05 Acres Lot

UPDATED:

09/22/2024 05:07 AM

Key Details

Property Type Vacant Land

Sub Type Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 11608085

Annual Tax Amount $3,949

Tax Year 2023

Lot Size 20.050 Acres

Lot Dimensions 1X1

Property Description

This Land Redevelopment Opportunity is located in Itasca, DuPage County, Illinois. Made up of 24 single family homes which offer a total of +/- 20.05 acres of land. These parcels would be included in an annexation into the village of Addison, IL. The subject land is approximately 27 miles northwest of downtown Chicago. It is close to O'Hare International Airport, major expressways, major retailers, and rail transportation. The subject land is more specifically located at the Northeast corner of the intersection of Lake Street, and Route 53. The land sits between Central Road to the West border, Grove St on the North Border, and Prescott Pl., Physician Immediate Care, Dunkin Donuts, Mario's Deli, Bigsby, DeMarco's Restaurant, and Lake Street to the South border. The village does not have a set density, but for single-family development that would generally mean somewhere between 3.6 and 5.7 units per acre. The village is in favor of zoning a multi-story condo or mixed-use building as an R4 planned development, which would allow up to six stories. The R4 district permits the development of 21-33 units per acre depending on the number of bedrooms in the units. The minimum lot size for single-family varies depending on the zoning district. This area abuts residential neighborhoods that are zoned R2 (8,400 square feet per lot) and R3A (7,600 square feet per lot). Currently, the land consists of 24 Single Family Homes which offer a total of +/- 20.05 acres of land. There is potential to acquire an additional 4.76 acres (please call for additional information). This opportunity is an Investor/Developer's Dream! An investor can take full advantage of this real estate opportunity by capitalizing on the usage of the land for redevelopment which is located in an extremely rare location in an already established suburban submarket.

Location

State IL

County Dupage

Area Itasca

Zoning COMMR

Interior

Fireplace N

Exterior

Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water to Site

Waterfront false

Building

Dwelling Type Land

Schools

School District 4 , 4, 88

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Rocco Zaccaro • Coldwell Banker Realty

Quick Search

General