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3271 US 20 - Multi-Family/Assisted Living

4.5 Acres of Commercial Land Offered at £1,961,025 in Elgin, IL 60124

Executive Summary

Approved for assisted living, the city prefers multi-family development for the site. Nearly 2 million in site improvements completed, including, storm water catch basin and retention pond, access to road and signage.

Attachments

Elgin - 3271 Highway 20, MF Land, BC

Property Facts

Price £1,961,025 Property Subtype Commercial
Sale Type Investment Proposed Use
Commercial
  • Mixed Use
  • Multifamily
  • Apartment Units
  • Apartment Units - Senior
  • Hold For Development
No. Lots 1 Total Lot Size 4.50 AC
Property Type Land
Price £1,961,025
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Mixed Use
  • Multifamily
  • Apartment Units
  • Apartment Units - Senior
  • Hold For Development
Total Lot Size 4.50 AC

1 Lot Available

Lot

Price £1,961,025 Lot Size 4.50 AC
Price Per AC £435,783
Price £1,961,025
Price Per AC £435,783
Lot Size 4.50 AC

4.5 acres located on the Elgin Bypass 1.5 miles west of Randall Rd.

Description

• Zoning is approved for 64 townhome development • Approved for assisted living, the city prefers multi-family development for the site • Nearly 2 million in site improvements completed, including, storm water catch basin and retention pond, access to road and signage • Sanitation sewer and water are to site • Sidewalks, curbs, grading, removal of black dirt and landscaping complete • Preliminary plans for 64 town homes available • Seller completion available • Seller was contracted to build at this site, open to sale or Joint Venture • 60-90 days to pull permits • 16-18 months to complete construction

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PROPERTY TAXES

Parcel Numbers
Multiple
  • 06-18-225-004
  • 06-18-225-005
 Improvements Assessment £0
Land Assessment £373,245 Total Assessment £373,245

PROPERTY TAXES

Parcel Numbers
Multiple
  • 06-18-225-004
  • 06-18-225-005
Land Assessment
£373,245
Improvements Assessment
£0
Total Assessment
£373,245

zoning

Zoning Code PAB
PAB
(815) 436-5700

  • Listing ID: 25716765

  • Date on Market: 16/05/2022

  • Last Updated:

  • Address: 3271 US 20, Elgin, IL 60124

The Land Property at 3271 US 20, Elgin, IL 60124 is currently available For Sale. Contact Caton Commercial Real Estate Group for more information.

Nearby Listings

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3271 US 20, Elgin, IL for sale Building Photo- Image 1 of 5
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3271 US 20, Elgin, IL for sale Building Photo- Image 2 of 5
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3271 US 20, Elgin, IL for sale Building Photo- Image 3 of 5
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3271 US 20, Elgin, IL for sale Other- Image 4 of 5
Land Survey

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Connect with us

© 2024 CoStar Group

3271 US 20 - Multi-Family/Assisted Living
(815) 436-5700 x

3271 US 20 - Multi-Family/Assisted Living

William Caton

(815) 436-5700

(815) 436-5700

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