Redevelopment Opportunity in Round Lake Beach

832 W. Rollins Road Round Lake Beach, IL 60073

832 W. Rollins Road, Round Lake Beach, IL, 60073
832 W. Rollins Road, Round Lake Beach, IL, 60073
FOR SALE Auction Property
Property Type:
Strip Center
Last Verified:
Apr 08, 2021

Suggested Opening Bid: $360,000 Buyer’s Premium: The greater of 6% or $20,000 Cooperating Broker Commission: 2% of Bid Price/Offer Price (before Buyer‘s Premium is added) Lot Size: Approx. .86 Acres Building Size: Approx. 20,956 2019 Total Taxes: $16,567.62 2019 Taxes: $1,983.02 PIN #: 06182080120000 2019 Taxes: $7,603.14 PIN #: 06182080130000 2019 Taxes: $1,969.14 PIN #: 06182080140000 2019 Taxes: $5,012.32 PIN #: 06182080150000 (Round Lake Heights) Zoning: C-3 (PIN # 012;013;-014) Zoning: Commercial (PIN #015; Round Lake Heights) Traffic Count 10,900 VPD Terrific redevelopment opportunity! Approx. 20,956 SF commercial building on high traffic area sitting on approximately 1 acre parcel. The building has 4 PIN #’s and has been emptied and cleared to the studs, ready for new rehab and build out. It may be configured for multiple tenants or a single-use tenant. Ceilings are approximately 14′. There are numerous parking spaces in the front and to the West of the building. Aggressively priced at approximately $18.00 per SF. Pre-auction offers strongly encouraged. Online Auction Bidding Starts at 11 AM CST Wednesday, June 23, 2021 and ends Friday, June 25, 2021, 11 AM CST Suggested Opening Bid: $360,000 Buyer's Premium: The Greater of 6% or $20,000 Cooperating Broker's Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added) Pre-Auction Bids Highly Encouraged!

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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
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • 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.