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Listed by Jeffrey Schultzof Kinzie Brokerage LLC
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Est. payment | /mo
5 Acres Lot
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Est. payment | /mo
5 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12624690
Annual Tax Amount $12,798
Tax Year 2024
Lot Size 5.000 Acres
Lot Dimensions 465 x 429 x 465 x 428
Property Sub-Type Land
Property Description
Exceptional redevelopment opportunity on approximately 5 acres, currently improved with an existing residential dwelling. Zoned I-1 (Restricted Industrial District), the property offers significant flexibility for a variety of industrial, commercial, and redevelopment uses (see attached zoning map). Strategically located adjacent to Oak Grove Business Park, the site benefits from immediate access to established industrial and commercial development, making it an attractive location for investors, developers, and owner-users. The property is encumbered by an active cell tower lease serving T-Mobile and Verizon. The cell tower and lease income are not included in the offering price; however, the lease is assignable, and ownership is willing to discuss a separate sale of the tower lease. Alternatively, the seller would consider subdividing approximately 0.5 acre for the cell tower site and conveying the remaining 4.5 acres independently. Additional highlights include: I-1 Restricted Industrial zoning Existing residential structure on site Adjacent to Oak Grove Business Park Potential to subdivide the cell tower parcel Flexible ownership structure with seller financing considered Seller open to reasonable cash offers combined with seller financing terms An additional 1.78-acre parcel immediately west of the property is also available under a separate listing. Acquisition and assemblage of both parcels would create access to a hard-corner location, further enhancing development potential and site visibility. This is a rare opportunity to acquire a strategically located industrial redevelopment site with flexible purchase options and future expansion potential.
Location
State IL
County Lake
Zoning INDUS
Rooms
Basement None
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Nearby, Water Nearby
View Y/N true
Building
Sewer Septic Tank
Water Well
Schools
High Schools Warren Township High School
School District 56, 56, 121
Others
Ownership Fee Simple
Special Listing Condition List Broker Must Accompany
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