4.91 Acre Development Parcel Along the Fox River

1055 N Lake St Aurora, IL 60506

1055 N Lake St, Aurora, IL, 60506
1055 N Lake St, Aurora, IL, 60506
FOR SALE
Property Type:
Other Land
Amount:
$427,759
Last Verified:
Apr 08, 2021

Highlights

  • 4.91 Acre Parcel Along Fox River
  • M-1 - Light Industrial Zoning
  • Municipal Support for Multi-Family Development
  • Wooded Parcel with River Views
  • Easement Allowing for full access to Lake St / IL Route 31
  • Convenient Location Just South of I-88

Description

Wooded 4.91 acre parcel between the Fox River and Lake St (IL Route 31) zoned M1 Light Industrial with potential for multi-family development with rezoning to R-5 consistent with the Comprehensive Plan for the City of Aurora. Easements across adjacent parcel allow for full access to and potential signage on Lake St. Adjacent uses include residential, retail/restaurant, and light industrial. 2016 Taxes: $15,043.80.

Can be combined with adjacent 4,656 sf net leased restaurant on 1.72 acres priced at a portfolio price of $1,250,000 (5.03% CAP on in place income).

The parcel is located along Lake St (Rt 31) just south of Indian Trail Rd in a vibrant commercial district in Aurora, Illinois' second largest city. The location affords convenient access to the local community via Lake St (Rt 31) and Indian Trail Rd, and strong regional access via I-88 (full interchange at Rt 31).

The parcel is adjacent to Nikarry's Restaurant and McDonalds, and is close to Northgate Shopping Center, Cermak Produce, Carson Pirie Scott, TJ Maxx, Ross, Long John Silvers, Taco Bell, White Castle, Walgreens and many other regional and national retailers.

Lot Size: 0.0 acres

Map of 1055 N Lake St, Aurora, IL, 60506

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