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508 W Washington Avenue

Lake Bluff, IL 60044

2 beds
2 baths
984 sqft
$345 per sqft
1973 build
– on site

Value is in the land for redevelopment. Consists of one single family townhome located at 508 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 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.

Listing courtesy of MRED / Coldwell Banker Realty as distributed by MLS GRID

Last checked: Checking… • Last updated Apr 26, 2024 •

MLS# 11687323 —

The Building

Year Built:

1973
Rebuilt:

No
New Construction:

false
Roof:

Asphalt
Basement:

Full
Foundation Details:

Concrete Perimeter
Exterior Features:

Storms/Screens, Outdoor Grill
Disability Access:

No
Other Equipment:

TV-Cable, Security System, CO Detectors, Ceiling Fan(s), Sump Pump
Stories Total:

2
Total SqFt:

984
Total SqFt:

1476
Upper SqFt:

984
Unfinished Lower SqFt:

492
Living Area Source:

Assessor

Interior

Rooms Total:

5
Room Type:

No additional rooms
Interior Features:

Hardwood Floors, Laundry Hook-Up in Unit

Room Dimensions

Living Area:

984

Location

Directions:

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

3950

The Property

Parcel Number:

12192060020000
Property Type:

Residential
Lot Features:

Landscaped
Lot Size Dimensions:

0.088
Lot Size Source:

County Records
Waterfront:

false
Additional Parcels:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2021
Tax Annual Amount:

2993.4

Beds

Bedrooms Total:

2
Bedrooms Possible:

2

Baths

Baths:

2
Full Baths:

1
Half Baths:

1

The Listing

Special Listing Conditions:

None
Buyer's Brokerage Compensation Type:

Net Sale Price
Buyer's Brokerage Compensation:

2.0% - $475

Heating & Cooling

Heating:

Electric, Baseboard
Cooling:

Window/Wall Units - 2

Utilities

Sewer:

Public Sewer
Electric:

Circuit Breakers
Water Source:

Lake Michigan

Appliances

Appliances:

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

Schools

Elementary School:

Lake Bluff Elementary School
Elementary School District:

65
Middle Or Junior School:

Lake Bluff Middle School
Middle Or Junior School District:

65
High School:

Lake Forest High School
High School District:

115

The Community

Pets Allowed:

No
Association Amenities:

Storage
Association Fee:

125
Association Fee Includes:

Insurance, Security, Lawn Care, Scavenger, Snow Removal
Association Fee Frequency:

Monthly
Master Assoc Fee Frequency:

Not Required

Parking

Parking Total:

2
Parking Features:

Assigned
Parking Onsite:

Yes
Parking Ownership:

Owned

Monthly cost estimate

Asking price

$340,000

Expense	Monthly cost
Mortgage	$1,820
Taxes	$249
Insurance	$93
HOA fees	$125
Utilities	$103 See report
Total	$2,390/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
12/13/22 Dec 13, 2022	Listed / Active	MRED	$340,000

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This townhouse located in Rockland Manor, Lake Bluff, IL 60044 is currently for sale for $340,000. 508 W Washington Avenue is a 984 square foot townhouse with 2 beds and 2 baths that has been on Estately for 503 days. 508 W Washington Avenue is in the Rockland Manor neighborhood of Lake Bluff and has a WalkScore® of 36, making it car-dependent. This townhouse is in the attendance area of Lake Bluff Elementary School, Lake Bluff Middle School, and Lake Forest High School.

Listing courtesy of MRED, Coldwell Banker Realty, and John Josephitis as distributed by MLS GRID.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Signal Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2024 Midwest Real Estate Data LLC
Information deemed reliable but not guaranteed by MLS GRID. Use of 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.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.

Based on information submitted to MLS GRID as of Apr 26, 2024, 10:11 pm. 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.