29075 Rand Road , Lake Zurich, IL 60047(Lake County)

0.29 Acres in Lake Zurich, IL - $94,000

Vacant parcel of land on busy Route 12 (Rand Road) in Kildeer, IL. Residential or commercial zoning possibilities in either Kildeer or Lake Zurich. Land Sale. Owner has a proposed project: Total SF for the 2 buildings is 9,660 SF. Each building being 4,830 SF. + Total 6 commercial units in the first floor each 751 SF + Total 6 residential 2 floor units each in the 2nd and 3rd floor. Each residential unit 1,527 SF The rent for the office space will be $30 per SF which is the comparable in the area for a new building. Totaling $135,180 per year for the commercial. For the residential it will be $2,000 per month rent = $144,000 per year. Totaling: $279,180 . Minus $40,000 taxes and 5,000 insurance. Common Area Maintenance is paid by tenants at a Capitalization Rate of 7.5% for resale or valuation = ($234,180 / 7.5%) = $3,122,400 Valuation or around $3 Million fair market value.