898 S Rand Rd Lake Zurich, IL 60047
Estimated payment $8,759/month
About This Lot
Introducing an unparalleled opportunity for visionary developers: Paul Proano Properties proudly presents an exclusive prime land development prospect in the heart of Lake Zurich. Nestled on 1.45 acres, this site features a 6,259 square foot mixed-use 10-unit building currently generating six figures annually, poised for increased rental yields. The unit mix is (4) 1Bd/1Bath units, (4) studio units, (1) 2Bd/1Bath unit and (1) office unit. Being zoned B-3 for regional shopping, the location offers exceptional redevelopment potential. Boasting 290 feet of frontage and comprehensive on-site utilities, this property ensures streamlined development. Lake Zurich, a vibrant community of 19,624 residents, provides an ideal backdrop for capitalizing on a prominent, high-traffic locale. Strategically positioned off Route 12 with 37,274 vehicles passing daily, it neighbors major retailers such as Walmart, Costco, and Home Depot. Adjacent to a bustling retail strip featuring Lake Zurich DMV, Binny's, Tropical Smoothie, and Duck Donuts, and with ongoing commercial developments nearby, this site promises to be a cornerstone of the area's growth.
Property Details
Property Type
- Land
Est. Annual Taxes
- $15,946
Lot Details
- 1.45 Acre Lot
- Lot Dimensions are 290x300x413x208.40
- Property is zoned COMMR
Parking
- Driveway
Home Design
- Mixed Use
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $16,235 | $230,098 | $83,176 | $146,922 |
| 2023 | $15,944 | $206,376 | $74,601 | $131,775 |
| 2022 | $15,944 | $202,389 | $73,160 | $129,229 |
| 2021 | $15,411 | $197,202 | $71,285 | $125,917 |
| 2020 | $14,898 | $197,202 | $71,285 | $125,917 |
| 2019 | $14,898 | $195,482 | $70,663 | $124,819 |
| 2018 | $14,648 | $192,653 | $69,684 | $122,969 |
| 2017 | $14,661 | $190,331 | $68,844 | $121,487 |
| 2016 | $14,289 | $184,304 | $66,664 | $117,640 |
| 2015 | $14,121 | $175,545 | $63,496 | $112,049 |
| 2014 | $14,510 | $178,381 | $64,522 | $113,859 |
| 2012 | $13,785 | $178,757 | $64,658 | $114,099 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/13/2025 08/13/25 | For Sale | $1,400,000 | 0.0% | $224 / Sq Ft |
| 08/11/2025 08/11/25 | Price Changed | $1,400,000 | +3.7% | -- |
| 03/12/2025 03/12/25 | Price Changed | $1,350,000 | -10.0% | -- |
| 07/24/2024 07/24/24 | For Sale | $1,500,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | -- | |
| Deed | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12114223
APN: 14-20-404-028
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