brochure

MULTI - FAMILY
SENIOR LIVING
ASSISTED LIVING
MEMORY CARE
DEVELOPMENT
POTENTIAL
43.5 Acres
Lake Street/Transportation Parcel
Grayslake, Illinois
Agency Disclosure
EXCLUSIVE AGENT
Colliers International (“Seller’s Agent”) is the exclusive agent representing Lake Properties Venture
the owner and seller (“Seller”) of “43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS” (“The Property”). Please contact us if you have any questions.
DESIGNATED AGENTS
The designated agents for the Seller are:
William M. Dolemba
Senior Vice President
[email protected]
+1 847 571 6014
Gregory J. Pacelli, SIOR
Principal
[email protected]
+1 847 698 8204
Colliers International Disclaimer
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only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content,
accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy
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conditions and warranties arising out of this document and excludes all liability for loss and damages
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licensor(s). ©2015. All rights reserved.
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Offering Price
$2,000,000
Property Highlights

Extraordinary suburban "in-fill" site

Adjacent to the Lake Street Metra Station

Convenient access to Grayslake's downtown "Center Street" shopping district

Zoning allows for multi-family development for up to 451 units

Potential retail development

Buildable Area
Two potential buildable envelopes of approximately 4.8 acres and 9.9 acres outside of
the base flood elevation and wetland areas.

Prospective Purchasers may consider how land donation tax credits for unbuildable areas to
the Lake County Forest Preserve and or the Grayslake Park District could enhance the value
of the Property.

Rezoning and Density Cap
The Transportation Parcel is currently zoned LC-NC/GI under the zoning ordinance of
the Village of Grayslake. This zoning classification was specially adapted, upon
annexation of this parcel to the Village of Grayslake, from the then-similar provisions of
the Lake County zoning ordinance.
Under the Settlement Agreement, the owner may petition the Village of Grayslake to
change the zoning of the Transportation Parcel to LC-NC/UR3, a residential zoning
classification. The Village must consider the petition but is under no obligation to grant
it.
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
The Village of Grayslake Comprehensive Plan incorporates a Sub-Area Plan that is
applicable to the Transportation Parcel. The Sub-Area Plan calls for transportationoriented residential development on the subject property.
Demographics
Population
1 Mile
3 Mile
5 Mile
2014 Total Population
2019 Population
Pop Growth 2014-2019
Average Age
5,366
5,405
0.73%
35.70
50,341
50,468
0.25%
35.50
137,571
137,942
0.27%
35.80
Households
2014 Total Households
HH Growth 2014-2019
2,033
0.69%
17,313
0.23%
46,142
0.22%
Median Household Inc
$79,053
$72,533
$77,549
500
¾
3
6
40
Feet
Miles
Miles
Miles
Miles
(Demographic information from Costar)
Access/Location/Services
Grayslake Metra Station
Downtown Grayslake
Lake Forest Hospital
I-94
Chicago
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Sanitary Sewer Service
Provided by the Village of Grayslake is currently located to the site on Lake Street.
Water Service
Provided by the Village of Grayslake is currently located to the site on Lake Street.
Electric Service
ComEd will provide electrical service.
Gas Service
NI Gas will provide gas service.
Education
Elementary students in Grayslake are served with five schools with total enrollment of 3,420 students
as well as a private elementary school with 559 enrolled. High school students attend Grayslake
Community High School District #127, which serves 1,800 students. Grayslake is also the home of
the main campus of the College of Lake County, a community college offering transfer, career, adult,
and continuing education courses and programs to over 14,000 students each semester.
Fire Protection
The Grayslake Fire Protection District has 23 full-time firefighters, 23 part-time firefighters and one
station. 30 full-time sworn and 16 non-sworn members provide police protection.
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Site Aerial
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Local Aerial
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Regional Aerial
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP
PROPERTY INFORMATION
Locator Map
43.5 ACRES/ LAKE STREET/TRANSPORTATION PARCEL
GRAYSLAKE, ILLINOIS
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COLLIERS | CHICAGO LAND ADVISORY GROUP