Prime Lake Zurich Multi-Family Investment with Expansion and Redevelopment Potential

Highlights:

• 1.45 Acres in Prime Lake Zurich Location
• Existing 6,259 SF Income-Producing Building
• 90% Occupancy with Strong Rental Income
• Zoned B-3 (Regional Shopping District)
• Redevelopment or Expansion Opportunity
• Full On-Site Utilities
• Located in Lake Zurich’s Retail Power Corridor
• Affluent Demographics
• Exceptional Visibility & Access
• Investment Versatility

Description:

Discover a premier multi-family and redevelopment opportunity in the heart of Lake Zurich, offered exclusively by Proano Commercial Group. 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 90% occupied and includes a desirable 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, an average household income exceeding $180,000, and average home values over $500,000.

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.