Incredible Re-Development Opportunity in Mundelein, IL

167 N Seymour Ave Mundelein, IL 60060

167 N Seymour Ave, Mundelein, IL, 60060
167 N Seymour Ave, Mundelein, IL, 60060
FOR SALE Auction Property
Property Type:
Free Standing Building
Last Verified:
Feb 09, 2021

Suggested Opening Bid: $195,000
Buyer's Premium: 6%
Cooperating Broker's Commission: 2%
Lot Size: Approx. .6 Acres
Building Size: Approx. 2986.5 SF
Manual Bays: 6
2018 Taxes: $5,942.72
PIN #: 1130100021
Zoning: C5 MU; TIF 2 District
New to the market! Approximately .6 acres (24,829 sf) of land. The existing building is approx. 2986.5 sf. Currently there is a vacant, 6 bay car wash on this property. It is located in downtown  Mundelein in a high traffic location.  Currently zoned C5 MU;(downtown mixed use district) and is in a TIF 2 District (adopted in 2016). Many other commercial businesses surround this property, including a McDonalds (across the street) and other restaurants, dry-cleaners and gas stations. The property is fully improved and features heavy power.
There are numerous potential re-development opportunities for this property such as retail stores, free-standing restaurant, fast food, coffee shops etc.
• Auction
• Suggested Opening Bid: $195,000
• Buyer's Premium: 6%
• Cooperating Broker's Commission: 2%
• Pre-Auction Bids Highly Encouraged!

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Map of 167 N Seymour Ave, Mundelein, IL, 60060

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
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  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.