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914 & 918 N Lake St , Mundelein, IL 60060
$841,000
Est. Payment: $4,512.36/mo
3000 Sqft
0.39 Acres
Status: active | Days on site: 7
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6670 - 45774
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

Located at the gateway to Mundelein and on the edge of its growing downtown, this fully leased, turn-key investment offers over 3,000 square feet of income-generating space within the flexible C5-C zoning district and three fully leased, revenue generating residential units. These two freestanding, two-unit buildings present an exceptional opportunity for investors seeking strong cash flow in a prime location. 914 Lake Street is a mixed-use property featuring commercial units on the ground floor, with a shared common space, and a residential apartment above. The commercial space offers a thoughtfully designed layout with artistic touches, three restrooms (two ADA-compliant), and ramped access. A welcoming outdoor deck enhances its appeal. The upper-level residential unit is a spacious, multi-level apartment with a well-appointed bedroom, en suite bathroom, and an in-unit washer and dryer. Currently leased, this unit provides reliable rental income. The entire property underwent a full renovation in 2018, including updates to the roof, mechanicals, and finishes. Additional features include a hardwired security system, fire monitoring, and pre-wiring for cable/internet connectivity. 918 Lake Street was a fully updated in 2024. This two-unit residential building is now leased. Unit A is a large one bedroom unit. Unit B is a two story, two bedroom unit. Both fully renovated. This property offers an excellent investment opportunity with strong rental income. Situated on Route 45 (Lake Street), this property enjoys high visibility with approximately 16,000 vehicles passing daily (per IDOT). With its strategic location near major intersections, new developments, and the METRA station, this is a prime opportunity to invest in Mundelein's evolving landscape. Both buildings benefit from ample on-site parking, making them well-suited for tenants and business operations. The flexible C5-C zoning allows for continued residential use or potential commercial adaptation in the future. Additionally, 918 Lake Street may qualify for Mundelein's Business Grant (BIG Program), which reimburses a portion eligible exterior and select interior improvements (up to $25,000). For inquiries regarding zoning Grant Program eligibility, contact Mundelein's Community Development and Planning Department. Owner may separate lots.
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Highlights

Listed by Erich Schwenk , 224-360-0306 The Pineapple Brand Company , 224-360-0301. Midwest Real Estate Data mls logo

Property Type

Commercial Sale
Lot/Acreage
0.39

Year Built

1923

County

Lake

Area

Ivanhoe / Mundelein

Listing ID

12724581

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Interior Features

Air Cond:Central Air,Central Individual
Fireplaces:
Water:Municipal Water

Exterior Features

Lot Dimensions:235X31X224X90
Zoning:OTHER
Parking Features:19-30 Spaces
Principal Interest
$4,512
Taxes
$1,213

Home Price

$841,000

Loan Details

30 yrs
7.08%

Down Payment

20%
$168,200
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:
$4,512.36

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,512.36 $1,212.98 $0.00 $5,725.34
Yearly $54,148.34 $14,555.76 $0.00 $68,704.10
Total $1,624,450.09 $436,672.80 $0.00 $2,061,122.89
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Market insight data is pulled from the same city as the listing being viewed (Mundelein, 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: 2026-10-26T22:55:05.000Z

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