3 acre land site with Entitlements Antioch Il

647 Main St Antioch, IL 60002

647 Main St, Antioch, IL, 60002
647 Main St, Antioch, IL, 60002
FOR SALE
Property Type:
Residential Land Development
Amount:
$800,000
Last Verified:
Dec 05, 2024

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Highlights

  • Entitlements in place for 35 new Townhomes
  • TOD site
  • Engineering Drawings completed
  • Site investigation done
  • All utilities to site
  • Building drawings complete
  • Approved density of 12 units/acre

Description

SVN is pleased to offer for sale the exclusively listed ±3 Acre Vacant Land Site located at 647 Main Street in Antioch, Lake County Illinois. The land site is comprised of five (5) lots and was recently approved with new entitlements to build 35 new 3-story 2,400 SF townhomes in pods of 3, 4, or 5 units. The site was part of an original project of residential/apartment units of which 10 Townhomes units were built in 2003/04. The zoning map shows the site to be in the MT (Main Street Transitional) zoned area that runs from Downtown Main Street Antioch north to North Avenue. A buyer could continue with the present entitlements or reach out to the village to do a concept that works for their use.
The land is for sale at $800,000 or $22,850 per buildable townhome. The Land sale must be coordinated with the sale of the adjacent 10 rental townhome units also on market for sale.

The 3-acre property is located on Main Street not too far from the Downtown area of Antioch. The land site sits adjacent to 10 rental Townhome units and could be considered a TOD development site as the Metra Station is very close by. Also close by is the public library and a new downtown area Marketplace was just built.

Lot Size: 3.0 acres


Documents

SVN - Brochure (L)

Map of 647 Main St, Antioch, IL, 60002

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.