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508 W WASHINGTON Avenue,  Lake Bluff IL, 60044

(Active)
$340,000
|
2 beds, 1 Full/1 Half baths, 984 sqft
|
MLS# 11687323
Last Updated: 4/29/2024 3:34 AM
Description for 508 W WASHINGTON Avenue Lake Bluff, IL 60044
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.
Price
$340,000
Lake
2
1 Full/1 Half
984 (approx)
11687323
Active
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.
Listing Information
Property Type: Condo, Townhouse, 2 Story, Townhouse
2 1 Full/1 Half
5 984 (approx) 1973
2 Brick
Shields//
Concrete Perimeter
Public Sewer
Cable Available
Neighborhood
School Information
District: Lake Forest High School
Lake Bluff Elementary School Lake Bluff Middle School Lake Forest High School
Room Information
Bathrooms
1 1
Interior Features
Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal
Hardwood
Window/Wall Unit, Ceiling Fan(s)
Electric Heating, Baseboard
Sump Pump, Finished, Full
Security System
Exterior / Lot Features
2 Parking Spaces, Assigned
Brick
Asphalt
0.088
Barbecue, Outdoor Grill, Landscaped
Community Features
Security System
Driving Directions
ROUTE 176 W OF GREEN BAY, NORTH ON SHAGBARK TO WASHINGTON
Financial Considerations
$125 Monthly
12192060020000
$2,993
Listing Price History

Lake Bluff Real Estate

Lake Bluff is located in Illinois. Lake Bluff, Illinois 60044 has a population of 5,404.

The median household income in Lake Bluff, Illinois 60044 is $120,286. The median household income for the surrounding county is $91,525 compared to the national median of $66,222. The median age of people living in Lake Bluff 60044 is 39 years.

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Courtesy: Coldwell Banker Realty
Listings courtesy of MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 4/29/2024. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.

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This content last refreshed on 4/29/2024 3:34 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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