898 S Rand Road, Lake Zurich, IL 60047

Property Overview

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…