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Listed by Chris Fossof Coldwell Banker Realty
$ 4,599,000
Est. payment | /mo
$ 4,599,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Instut/To Develop
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12508197
Year Built 1969
Annual Tax Amount $33,151
Tax Year 2024
Lot Dimensions Approx. 20 Acres
Property Sub-Type Instut/To Develop
Property Description
Prime 20 Acre Development Opportunity. Gages Lake, Illinois Residential - Commercial - Institutional - Luxury Estate Potential. Introducing a rare and versatile 20 Acre infill parcel in the heart of Lake County offering unmatched flexibility for residential subdivision, mixed-use commercial, Institutional, or private paradise estate development. Property Highlights Size: 20 Acres Structures: 4 Existing Residential Homes (1 building is a duplex with rental income). Zoning: Split Zoning Residential & Commercial. Location: Borders a school and the established 35-home Wooded Glen Subdivision. Features: Central retention pond (ideal for future park/amenity) Utilities: Gas & Electric onsite. Access: High visibility frontage on Gages Lake Road. Development Potential. Residential Subdivision: 30-36 single-family lots (precedent set by adjacent subdivision). Mixed-Use Plan: 4-6 acres commercial frontage + 25-30 residential homes in rear. Institutional/Educational Campus: Charter/private school, religious center, assisted living, or retreat campus. Luxury Compound: Multi-generational gated estate or equestrian property using existing homes. Flexible Zoning reduces rezoning risk. Strategic Location: Adjacency to school ensures strong demand and community integration. Amenity Potential: Retention pond can be enhanced as a visual and recreational centerpiece. A rare, high-demand parcel ideal for developers, institutions, or private paradise estate buyers looking to create something extraordinary! --CONFIRMED SHOWINGS REQUIRED TO VIEW THE PROPERTY-
Location
State IL
County Lake
Zoning OTHER
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available
View Y/N true
Building
Sewer Septic Tank
Water Well
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2600 S. Michigan Avenue, Suite 102, Chicago, IL, 60616, United States