Terra Cotta Road

5804 Terra Cotta Rd Crystal Lake, IL 60014

Crystal Lake
FOR SALE
Property Type:
Residential Land Development
Amount:
$999,999
Last Verified:
Jun 11, 2024

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Highlights

  • Tree lined
  • Slightly sloped
  • Entrance road to come through from the East

Description

4 parcels assembled for development
Multifamily PUD adjacent
Zoned R1 - Single Family
Growing area

The site is situated off of a well traveled road in a mainly residential area. There is multifamily adjacent to the property so there is a possibility of a change to multifamily zoning.
The lot is slightly sloped and tree lined to the North and West sides of the property.
The development site consists of 4 buildable parcels.

Lot Size: 3.85 acres

Map of 5804 Terra Cotta Rd, Crystal Lake, IL, 60014

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.