18238 W Gages Lake Road Grayslake, IL $ 4,599,000
18238 W Gages Lake Road
$ 4,599,000
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18238 W Gages Lake Road

Grayslake, IL, 60030
$ 4,599,000
Bedrooms-- Baths--

Monthly Estimate*

$ 28,692

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Commercial Property for sale in Grayslake, IL

for $4,599,000. This building was built in 1969 on a lot size of 20.

Prime 20 Acre Development Opportunity. Gages Lake, Illinois Residential - Commercial - Institutional - Luxury Estate Potential. Introducing a rare and versatile 20 Acre infill parcel in the heart of Lake County offering unmatched flexibility for residential subdivision, mixed-use commercial, Institutional, or private paradise estate development. Property Highlights Size: 20 Acres Structures: 4 Existing Residential Homes (1 building is a duplex with rental income). Zoning: Split Zoning Residential & Commercial. Location: Borders a school and the established 35-home Wooded Glen Subdivision. Features: Central retention pond (ideal for future park/amenity) Utilities: Gas & Electric onsite. Access: High visibility frontage on Gages Lake Road. Development Potential. Residential Subdivision: 30-36 single-family lots (precedent set by adjacent subdivision). Mixed-Use Plan: 4-6 acres commercial frontage + 25-30 residential homes in rear. Institutional/Educational Campus: Charter/private school, religious center, assisted living, or retreat campus. Luxury Compound: Multi-generational gated estate or equestrian property using existing homes. Flexible Zoning reduces rezoning risk. Strategic Location: Adjacency to school ensures strong demand and community integration. Amenity Potential: Retention pond can be enhanced as a visual and recreational centerpiece. A rare, high-demand parcel ideal for developers, institutions, or private paradise estate buyers looking to create something extraordinary! --CONFIRMED SHOWINGS REQUIRED TO VIEW THE PROPERTY-

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Commercial Active

Price

$ 4,599,000

Property Type

Commercial

Taxes

$ 33,151

Style

Lot Size

20

Year Built

1969

Town/City

Grayslake

County/Region

Lake

MLS | Web ID

12508197

Features
General
Sewer Septic Tank
Cooling None
Utilities Electric to Site Natural Gas Available
Zoning OTHER
Year Built 1969
Electric Other
Stories Count 2
Township Warren
Tax Year 2024
County Lake
Net Operating Income 0
Operating Expense 0
Property Type Commercial Sale Instut/To Develop
Status Active
Directions GAGES LAKE & HUNT CLUB W2 Property.
City Grayslake
MLS Area Gages Lake / Grayslake / Hainesville / Third Lake
Lot Size Square Feet 871200
Tax Annual Amount 33151
Additional Parcels Y/N Y
Standard Status Active
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Exterior
Water Source Well
Lot Dimensions Approx. 20 Acres
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* Excluded Features
List By
Coldwell Banker Realty

Broker

chris.foss@cbexchange.com

Email

Affordability Calculator

$31,454
Per Month
91%
9%
0%
Monthly Principal & Interest
$28,692
Monthly Property Taxes
$2,763
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/31/2025$4,599,000 Listed Price

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18238 W Gages Lake Road, Grayslake, IL, 60030 is a Commercial Property for sale at $4,599,000 with a lot size of 20. 18238 W Gages Lake Road was built in 1969. The property's zip code is 60030 which is in Grayslake, IL