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223 E State Rd , Island Lake, IL 60042
$2,499,000
Est. Payment: $13,500.03/mo
42000 Sqft
4.43 Acres
Status: closed | Days on site: 548
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37922 - 371135,20076
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from IDX Support, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

4.41 acre redevelopment, owner/user, or investor opportunity! Three separate freestanding buildings featuring a 25,670 SF established, long-operating grocery store; a freestanding 16,486 SF vacant retail building and a freestanding 1,610 SF vacant bank building with two drive-thru lanes on the east end of the property. Outstanding corner lends itself to a long list of permitted uses with B-1 & B2 zoning! Over 17,300 vehicles per day pass this site! Heavy exposure on main east/west corridor, Route 176 and north/south thoroughfare Rand Road.
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Highlights

Listed by Timothy Billimack , 815-355-0196 Blue Chip Commercial Real Estate , 815-355-0196. Midwest Real Estate Data mls logo

Property Type

Commercial Sale
Lot/Acreage
4.43

Year Built

1981

County

Lake

Area

Island Lake

Listing ID

11745907

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Interior Features

Air Cond:Central Air
Fireplaces:

Exterior Features

Lot Dimensions:568 X 340
Parking Features:Over 100 Spaces
Principal Interest
$13,500
Taxes
$9,103

Home Price

$2,499,000

Loan Details

30 yrs
7.148%

Down Payment

20%
$499,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$13,500.03

Principal

Taxes

Principal Taxes HOA Total
Monthly $13,500.03 $9,102.67 $0.00 $22,602.70
Yearly $162,000.37 $109,232.00 $0.00 $271,232.37
Total $4,860,011.00 $3,276,960.00 $0.00 $8,136,971.00
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Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Island Lake, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-11-02T19:27:07.000Z

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