Exceptional commercial development opportunity on nearly 4.5 acres with 304 feet of frontage on highly traveled IL Route 120 in Grayslake! Zoned General Business (GB), this prime property offers incredible flexibility for a wide variety of commercial, retail, office, service, or mixed-use possibilities (subject to municipal approval). The property currently features a large existing home, along with a working well and septic system, providing immediate functionality while you finalize development plans. Whether you're looking for temporary office space, a business headquarters, or an interim use before redevelopment, the existing structure offers valuable flexibility. City water and sewer are available for future expansion and development. With outstanding visibility, easy access, and a high daily traffic count, this location offers exceptional exposure for your business or investment. Opportunities with nearly 4.5 acres, 304 feet of highway frontage, flexible General Business zoning, and city utilities available are becoming increasingly rare. Bring your vision and capitalize on one of Grayslake's premier commercial corridors!
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Zillow last checked:
Listing updated:
Listed by:
Danielle Welker262-914-5694,
Re/Max Advantage
Source: MRED as distributed by MLS GRID,MLS#: 12712722
Facts & features
Property
Features
Frontage length: 304
Lot
Size: 4.48 Acres
Dimensions: 304x670x299x632
Details
Parcel number: 07311000290000
Special conditions: None
Utilities & green energy
Sewer: Septic Tank
Water: Well
Utilities for property: Electric to Site, Natural Gas Available, Sewer Nearby, Water Nearby, Cable Available
Community & HOA
Location
Region: Grayslake
Financial & listing details
Annual tax amount: $12,516
Date on market: 7/23/2026
Ownership: Fee Simple
Electric utility on property: Yes
Road surface type: Asphalt
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
Not available
Price history
Date
Event
Price
7/23/2026
Listed for sale
$499,000
Source: MRED as distributed by MLS GRID #12712722Report a problem
Public tax history
Tax history is unavailable.
Monthly payment
Estimated monthly payment$1,822
Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
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.