• 506 W Washington Avenue Lake Bluff, IL 60044

  • $340,000
  • 2
    Bed(s)
  • 2
    Baths
  • 984
    Sq Ft
  • Listed By: Coldwell Banker Realty
  • Source: Midwest Real Estate Data LLC (MRED)

Value is in the land for redevelopment. Consists of one single family townhome located at 506 W Washington Avenue in unincorporated Lake Bluff. Three other townhomes in the Knollwood Townhomes are also for sale under separate listings. The Sunset Motel located at 511 Rockland Road is being sold separately under MLS 11392402. Sunset Motel is currently open and operating. 11 Shagbark is rented with a month to month lease in place. PIN numbers 12-19-206-014, 12-19-206-15, 12-19-206-010 and 12-19- 206-007 are also for sale. Other properties in this offering are three single family homes located on Shagbark Road. Rare North Shore commercial redevelopment land acquisition opportunity available in Lake Bluff, IL. Major market areas include Lake Bluff, Lake Forest, Green Oaks and Libertyville, IL. General Commercial and Residential Zoning currently in place. Located in unincorporated Lake Bluff - Current Lake County Zoning. Buyer could voluntarily annex into the Village of Lake Bluff - Lake Bluff willing to offer financial incentives! Recent developments include new Target & Chase Bank plus retail strip malls directly across the street on Route 176 (Rockland Road) Adjacent to the brand new Northwestern Medicine building that just sold for $8,150,000 in 2021, which is located directly across the street on Route 176. Sold in May of 2020 for $3,700,000 for 41,040 sq ft parcel. This sales comparable sold for $90.16 per sq ft. Thriving commercial corridor serving Lake Bluff & Lake Forest residents plus large daytime employment from Abbott Labs and many surrounding businesses. Value is in the land! This offering is part of a larger eleven-parcel assembly of contiguous properties that total about 120,000 sq ft or 2.75 acres of commercial and residential land. Possible rezoning of all parcels to be either commercial or residential. Future use for new retail, medical, multi-family, drive-thru etc. Contact John Josephitis for full Offering Memorandum and complete details on the overall development opportunity.

Property Type :

Residential

County :

Lake

Style :

Residential

Property Details

 

Bedroom Information

Total Bedroom: 2

Room Types: No additional rooms

Bathroom Information

Total Baths: 2

Full Baths: 1

Half Baths: 1

Room Information

Rooms Total: 5

Interior Features

Hardwood Floors, Laundry Hook-Up in Unit

Roof : Asphalt

Appliances : Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal

Roofing Information

Asphalt

Heating & Cooling

Heating: Electric, Baseboard

Cooling: Window/Wall Units - 2

WaterSource: Lake Michigan

Building Information

Year Built: 1973

Exterior Features

Storms/Screens, Outdoor Grill

Foundation Details: Concrete Perimeter

Lot Information

Lot Dimensions: 0.144

Lot Description: Landscaped

Lot Size Source: County Records

Property Information

Property Type: Residential

Sub Type: Attached Single

Type Attached: Townhouse-2 Story

Listing Price Information

Original List Price: $340000

Tax Information

Annual Tax: $2856.11

Tax Year: 2021

Parcel Number: 12192060170000

Tax Exemption: None

Parking Information

Total Parking: 2

Assigned

Parking: Space/s

Is Parking Included in Price: Yes

Homeowners Association Information

Included Fees: Insurance, Security, Lawn Care, Scavenger, Snow Removal

Included Amenities: Storage

HOA : $125 Monthly

School Information

Elementary School: Lake Bluff Elementary School

Junior High School: Lake Bluff Middle School

Senior High School: Lake Forest High School

Utility Information

Sewer: Public Sewer

Water Source: Lake Michigan

Location Information

City: Lake Bluff

Direction: ROUTE 176 W OF GREEN BAY, NORTH ON SHAGBARK TO WASHINGTON

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
108 Kohl Avenue, Lake Bluff, IL,60044 $749,000 4 3 3,375 0.25 Acre
508 W Washington Avenue, Lake Bluff, IL,60044 $340,000 2 2 984 --
11 Shagbark Road, Lake Bluff, IL,60044 $650,000 2 1 888 0.43 Acre
15 Shagbark Road, Lake Bluff, IL,60044 $675,000 2 1 840 0.42 Acre
17 Shagbark Road, Lake Bluff, IL,60044 $675,000 2 1 1,002 0.31 Acre
13 Shagbark Road, Lake Bluff, IL,60044 $675,000 2 1 1,040 0.41 Acre
120 N Waukegan Road, Lake Bluff, IL,60044 $120,000 -- -- -- 0.13 Acre
546 Lakeland Drive, Lake Bluff, IL,60044 $4,175,000 5 8 7,418 1.39 Acres
524 E Washington Avenue, Lake Bluff, IL,60044 $2,050,000 5 5 4,500 0.39 Acre
700 Crab Tree Farm Lane, Lake Bluff, IL,60044 $19,900,000 5 8 9,990 31.85 Acres

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Based on information submitted to the MLS GRID as of 04/26/2024 @ 18:20. All data is obtained from various sources and may not have been verified by the broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Properties displayed may be listed or sold by various participants in the MLS.

Consumer use of IDX Listings Disclaimer: Based on information submitted to the MLS GRID as of 04/26/2024 @ 18:20. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.


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ByOwner last updated this listing 04/26/2024 @ 18:20

MLS: MRED #11687316
LISTED BY: John Josephitis, Coldwell Banker Realty
SOURCE: Midwest Real Estate Data LLC (MRED)
Buyer Agency Compensation: 2.0% - $475
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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