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$279,000
Est. payment /mo
3.3 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12674820
Annual Tax Amount $2,257
Tax Year 2025
Lot Size 3.300 Acres
Lot Dimensions 120x124x300x289
Property Sub-Type Land
Property Description
Exceptional multifamily development opportunity in the heart of Lindenhurst. Offered together, 104, 106, and 108 Old Elm Road represent one of the few remaining infill development sites in the Village zoned R-3, allowing for higher-density residential development in an established neighborhood setting. With housing demand continuing to outpace supply throughout Lake County, this approximately 3-acre site presents a rare opportunity to develop a proposed 24-unit multifamily community in a market with strong fundamentals, limited new inventory, and increasing demand for quality rental housing. The property's zoning, location, and surrounding infrastructure position it as a compelling investment for developers seeking a project with significant upside and a straightforward path to meeting local housing needs. Situated among established residential neighborhoods, the site benefits from existing utilities, convenient access to shopping, dining, employment centers, and major transportation routes. Residents will enjoy proximity to Lakes Community High School, a district recognized throughout the region for its educational offerings and community support. Lindenhurst continues to attract residents seeking an exceptional quality of life, supported by a highly regarded Park District, numerous community parks, recreation programs, and year-round events. The property is also located near the Chain O'Lakes recreational area, Hastings Lake, and thousands of acres of Lake County Forest Preserves offering boating, fishing, hiking, biking, and outdoor recreation opportunities that enhance long-term residential demand. As one of the last remaining multifamily development sites within the Village, this property offers a unique combination of zoning entitlement, location, and market demand. Whether developed as a 24-unit apartment community or another permitted residential product, the site represents a rare opportunity to add much-needed housing in a desirable Lake County location with strong demographic and economic drivers.
Location
State IL
County Lake
Area Lake Villa / Lindenhurst
Zoning MULTI
Interior
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available
Building
Dwelling Type Land
Schools
Elementary Schools B J Hooper Elementary School
Middle Schools Joseph J Pleviak Elementary Scho
High Schools Lakes Community High School
School District 41 , 41, 117
Others
Ownership Fee Simple
Special Listing Condition None
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Listed by Benjamin Lovinger of Baird & Warner