Lake Zurich, IL 60047,898 S Rand Road
Lake Zurich, IL 60047,898 S Rand Road
Lake Zurich, IL 60047,898 S Rand Road
Lake Zurich, IL 60047,898 S Rand Road
Lake Zurich, IL 60047,898 S Rand Road
Lake Zurich, IL 60047,898 S Rand Road
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Jasmine Greer

Jasmine Greer

+1(708) 404-2629
Listed by Paul Proanoof Coldwell Banker Commercial NRT
$ 1,400,000
Est. payment | /mo

6,259 SqFt

Save
$ 1,400,000
Est. payment | /mo
Save

6,259 SqFt

Key Details

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 6,259 sqft

Price per Sqft $223

MLS Listing ID 12392996

Year Built 1950

Annual Tax Amount $16,235

Tax Year 2023

Lot Size 1.450 Acres

Lot Dimensions 185x50x59x300x185x306

Property Sub-Type Multi Family 5+

Property Description

Discover a premier multi-family and redevelopment opportunity in the heart of Lake Zurich. Located at 898 S Rand Road, this 1.45-acre property features a 6,259-square-foot mixed-use building with 124 feet of frontage along the high-traffic Route 12 corridor, where over 37,000 vehicles pass daily. The existing structure is currently almost fully occupied and includes a unit mix of four 1-bedroom/1-bath units, four studio units, one 2-bedroom/1-bath unit, and one office unit, collectively generating $100,800 in annual rental income with upside potential through rent increases or reconfiguration. Zoned B-3 (Regional Shopping District), the site offers exceptional flexibility for investors or developers seeking long-term value and cash flow. Approximately one acre of the land remains undeveloped, creating the opportunity to construct an additional building to maximize density and returns. The zoning allows for a wide range of commercial or mixed-use development options, making this property ideal for continued residential use, retail, or office expansion. Full on-site utilities are in place, further simplifying the development process. Strategically positioned within Lake Zurich's primary retail corridor, the property is surrounded by major national retailers including Walmart, Costco, Home Depot, ALDI, Binny's, Starbucks, and the Lake Zurich DMV. This dynamic location ensures strong visibility, high foot traffic, and sustained tenant demand. Area demographics within a one-mile radius further enhance investment appeal, with over 9,100 residents. Whether you're seeking stable rental income, a prime redevelopment opportunity, or a flexible mixed-use asset in a high-growth suburban market, 898 S Rand Road delivers a compelling investment case with immediate performance and long-term upside.

Location

State IL

County Lake

Zoning MULTI

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

Utilities Available Water Available

View Y/N true

Roof Type Composition

Building

Water Community Water

Structure Type Brick,Other,Aluminum Siding

Others

HOA Fee Include None

Midwest Real Estate Data (MRED) VOW
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES
Elementary Schools 13
  • 9

    Isaac Fox Elementary School

    Public | PK - 5

  • 8

    Arnett C Lines Elementary School

    Public | KG - 5

  • 8

    Spencer Loomis Elementary School

    Public | PK - 5

  • 8

    Sarah Adams Elementary School

    Public | PK - 5

  • 7

    Seth Paine Elementary School

    Public | KG - 5

  • 6

    May Whitney Elementary School

    Public | PK - 5

  • 0

    Atonement Christian Day School

    Private | PK - KG

  • 0

    Montessori Children's House of North Barrington

    Private | PK - KG

  • 0

    St Francis de Sales School

    Private | PK - 8

  • 0

    Kindercare Learning Center

    Private | PK - KG

  • 0

    Bright Horizons

    Private | PK - TKG

  • 0

    St Matthew Lutheran School

    Private | PK - 8

  • 0

    Bright Horizons

    Private | PK - KG

Middle Schools 3
  • 7

    Barrington Middle School Station

    Public | 6 - 8

  • 7

    Lake Zurich Middle - N Campus

    Public | 6 - 8

  • 7

    Lake Zurich Middle - S Campus

    Public | 6 - 8

High Schools 1
  • 10

    Lake Zurich High School

    Public | 9 - 12

School and business data provided by Attom Data.

GET MORE INFORMATION

Jasmine Greer
Jasmine Greer

Real Estate Consultant | License ID: 475204121

+1(708) 404-2629 | jasmine@jasminesellshouses.com

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898 S Rand Road