Active
508 W WASHINGTON Avenue
Lake Bluff IL, 60044
$340,000
$345.53 per sqft
Active
2 Beds
1.5 Baths
984 sqft
Residential
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
March 28, 2024
Updated
Map
508 W WASHINGTON Avenue
Lake Bluff IL, 60044
Interior Features
Total Stories
2
Bedrooms
2 Beds
Bathrooms
1.5 Baths
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
355
Association Fee
$125
Association Fee Frequency
Monthly
Association Amenities
Storage
Garage
No
Parking
Assigned
Parking Total
2
View
No
County
Lake
Water Source
Lake Michigan
Pool
No
Buyer Agency Compensation
2.0% - $475
Courtesy of Coldwell Banker Realty, John Josephitis,
Listing Contact: 847-373-1766
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than The PK Johnson Group, LLC are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
Based on information submitted to the MLS GRID for MRED 3/28/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
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Data last updated 4:19 AM UTC, 3/28/2024