Outstanding 28-acre parcel strategically located along highly traveled Route 120, offering excellent visibility, access, and frontage in the heart of Lake County's growth corridor. Zoned General Business (GB) and Shopping Center Business (SCB), this property allows for a wide variety of commercial and mixed-use development opportunities including retail centers, restaurants, medical offices, professional suites, entertainment uses, or potential residential components subject to approvals. Grayslake's business-friendly environment and central location between major regional hubs make this an exceptional opportunity for forward-thinking developers. Utilities are nearby, and surrounding development includes strong national retailers, established residential neighborhoods, and expanding commercial corridors providing a built-in customer base and workforce. A four-bedroom single-family home currently occupies the property and is rented on a month-to-month basis, offering immediate holding income during planning and entitlement. This is one of the few remaining large development sites along Route 120, ideal for investors, builders, and commercial developers seeking scale, flexibility, and high visibility in a thriving market.
Active
Price cut: $90.5K (7/28)
$1,705,000
18521 W State Route 120, Grayslake, IL 60030
--beds
--baths
28.01Acres
Unimproved Land, Farm
Built in ----
28.01 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Excellent visibility
- 306 days
- 88
- 0
Zillow last checked:
Listing updated:
Listed by:
Benjamin Lovinger 847-778-9519,
Baird & Warner,
Jill Lovinger,
Baird & Warner
Source: MRED as distributed by MLS GRID,MLS#: 12513982
Facts & features
Interior
Appliances
- Laundry: In Unit
Features
- Basement: Cellar
Video & virtual tour
Property
Features
- Frontage length: 1
Lot
- Size: 28.01 Acres
- Dimensions: 1168x785x666x683x701x131x259
Details
- Parcel number: 07311000230000
- Zoning: AGRIC
- Special conditions: None
Utilities & green energy
- Sewer: Storm Sewer
- Water: Municipal Water
- Utilities for property: Electric to Site, Natural Gas Available, Sewer Nearby, Water Available
Community & HOA
Location
- Region: Grayslake
Financial & listing details
- Tax assessed value: $202,346
- Annual tax amount: $7,103
- Date on market: 11/8/2025
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/28/2026 | Price change | $1,705,000-5% |
Source:  MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 5/31/2026 | Price change | $1,795,500 |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 5/23/2026 | Price change | -- |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 5/22/2026 | Price change | $1,795,500 |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 5/11/2026 | Price change | -- |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 5/6/2026 | Price change | $1,795,500-5% |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 11/8/2025 | Listed for sale | $1,890,000-42.7% |
Source: MRED as distributed by MLS GRID #12513982 Report a problem | ||
| 2/1/2023 | Listing removed | -- |
Source: MRED as distributed by MLS GRID #11042399 Report a problem | ||
| 1/23/2023 | Price change | $3,300,000-5.7% |
Source: MRED as distributed by MLS GRID #11042399 Report a problem | ||
| 4/5/2021 | Listed for sale | $3,500,000-5.4% |
Source: MRED as distributed by MLS GRID #11042399 Report a problem | ||
| 4/4/2021 | Listing removed | -- |
Source: MRED as distributed by MLS GRID #10163329 Report a problem | ||
| 8/21/2020 | Listed for sale | $3,700,000 |
Source: Baird & Warner #10163329 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,103 +2.5% | $71,395 +5.9% |
| 2023 | $6,930 -5.1% | $67,442 +8.3% |
| 2022 | $7,300 +10.3% | $62,253 -5.5% |
| 2021 | $6,618 +3.7% | $65,866 +8.6% |
| 2020 | $6,380 +3.6% | $60,675 +3.8% |
| 2019 | $6,156 +3.8% | $58,452 +0.9% |
| 2018 | $5,931 | $57,931 +3.7% |
| 2017 | $5,931 -10.8% | $55,879 -8.3% |
| 2016 | $6,649 -1.6% | $60,916 +5.7% |
| 2015 | $6,755 +16.8% | $57,656 +1% |
| 2014 | $5,782 +6.4% | $57,071 -0.5% |
| 2012 | $5,435 +6.6% | $57,383 -6.7% |
| 2011 | $5,097 +14.1% | $61,492 +4.8% |
| 2010 | $4,467 +2.7% | $58,662 -4.6% |
| 2009 | $4,348 +0.1% | $61,477 -1.7% |
| 2008 | $4,343 +6.5% | $62,567 +7% |
| 2006 | $4,080 -1.2% | $58,496 |
| 2005 | $4,129 +3% | -- |
| 2004 | $4,007 +2.5% | -- |
| 2003 | $3,909 +5.5% | -- |
| 2002 | $3,705 +101.6% | -- |
| 2001 | $1,838 | $39,302 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: 60030
Nearby schools
Schools provided by the listing agent
- District: 50
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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