Listing provided courtesy of Baird & WarnerMREDas Distributed by MLSGrid- MLS# 12513982MLS Provider

18521 W Il Route 120 HighwayGrayslake, IL 60030

Single Family · 28.01 Acres
$1,795,500 Active

18521 W Il Route 120 Highway Overview

Time on Site:
234 days
Visits:
3

Outstanding 28-acre parcel strategically located along highly traveled Route 120, offering excellent visibility, access, and frontage in the heart of Lake County's growth corridor. Zoned General Business (GB) and Shopping Center Business (SCB), this property allows for a wide variety of commercial and mixed-use development opportunities including retail centers, restaurants, medical offices, professional suites, entertainment uses, or potential residential components subject to approvals. Grayslake's business-friendly environment and central location between major regional hubs make this an exceptional opportunity for forward-thinking developers. Utilities are nearby, and surrounding development includes strong national retailers, established residential neighborhoods, and expanding commercial corridors providing a built-in customer base and workforce. A four-bedroom single-family home currently occupies the property and is rented on a month-to-month basis, offering immediate holding income during planning and entitlement. This is one of the few remaining large development sites along Route 120, ideal for investors, builders, and commercial developers seeking scale, flexibility, and high visibility in a thriving market.

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18521 W Il Route 120 Highway Facts & Features

  • Type Single Family
  • Lot 28.01 Acres

Details

General

School Information

  • School District: 121

Business Information

  • Current Use: Agricultural

Location/Region

  • County Or Parish: Lake
  • MLS Area Major: Gages Lake / Grayslake / Hainesville / Third Lake / Wildwood
  • Township: Warren

Tax Information

  • Tax Annual Amount: $7,103.00
  • Tax Year: 2024

General Information

  • Ownership: Fee Simple
  • Parcel Number: 07311000230000
  • Property Type: Farm
  • Special Listing Conditions: None
  • Zoning: AGRIC

Interior

Beds/Baths

  • Bathrooms Total: 0

General Information

  • Basement: Cellar
  • Laundry Features: In Unit

Exterior

Parking Information

  • Parking Total: 0

Lot Information

  • Additional Parcels: No
  • Frontage Length: 1
  • Frontage Type: Public Road,State Road
  • Lot Size Acres: 28.01
  • Lot Size Dimensions: 1168x785x666x683x701x131x259
  • Road Surface Type: Asphalt
  • Water Source: Municipal Water

Waterfront/View

  • Waterfront: No

General Information

  • Sewer: Storm Sewer
  • Utilities: Electric to Site,Natural Gas Available,Sewer Nearby,Water Available

18521 W Il Route 120 Highway Neighborhood

Community

60030 (GRAYSLAKE) Demographics

42
Median Age
1,316
Population Density (per sq. mile)
56%
College Educated
$92,697
Estimated Median Income
11,079
Estimated Total Home Owners
2,861
Estimated Total Renters
79% / 21%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

18521 W Il Route 120 Highway Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

18521 W Il Route 120 Highway Market Data

Based on the last 30 days in this zip code

$415,713
Average List Price
$205
Average Price per Square Foot
46
Properties Sold
43
Average Days on Market
124
Properties for Sale
Calculations provided by Reliance Network

18521 W Il Route 120 Highway History

Date Event Value Agent
5/10/2026Source: MRED Status Change
Active
5/5/2026Source: MRED Price Reduction
$1,795,500 -5.0%
5/5/2026Source: MRED Status Change
Price Change
11/13/2025Source: MRED Status Change
Active
11/8/2025Source: MRED Added to Database
November 08, 2025