898 S Rand RD, Lake Zurich, IL 60047
898 S Rand RD, Lake Zurich, IL 60047
898 S Rand RD, Lake Zurich, IL 60047
898 S Rand RD, Lake Zurich, IL 60047
898 S Rand RD, Lake Zurich, IL 60047
898 S Rand RD, Lake Zurich, IL 60047
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Catalin Maticiuc

Catalin Maticiuc

+1(773) 474-8497
$ 1,400,000
Est. payment | /mo

6,259 SqFt

Save
$ 1,400,000
Est. payment | /mo
Save

6,259 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 6,259 sqft

Price per Sqft $223

MLS Listing ID 12392996

Maintenance Fees $4,788

Year Built 1950

Annual Tax Amount $16,235

Tax Year 2023

Lot Size 1.450 Acres

Lot Dimensions 185x50x59x300x185x306

Property Sub-Type Multi Family 5+

Property Description

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 Walmart, Costco, Home Depot, ALDI, Binny's, Starbucks, and the Lake Zurich DMV. This dynamic location ensures strong visibility, high foot traffic, and sustained tenant demand. Area demographics within a one-mile radius further enhance investment appeal, with over 9,100 residents. Whether you're seeking stable rental income, a prime redevelopment opportunity, or a flexible mixed-use asset in a high-growth suburban market, 898 S Rand Road delivers a compelling investment case with immediate performance and long-term upside.

Location

State IL

County Lake

Area Hawthorn Woods / Lake Zurich / Kildeer / Long Grove

Zoning MULTI

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

Utilities Available Water Available

Roof Type Composition

Building

Dwelling Type Multi Family 5+

Water Community Water

Structure Type Brick,Other,Aluminum Siding

Others

HOA Fee Include None

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Paul Proano of  Coldwell Banker Commercial NRT 

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Catalin Maticiuc

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(773) 474-8497

catalin@crosstownrealtors.com

Chicago, IL 60646, USA

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898 S Rand RD