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 ( The Property ). Please contact us if you have any questions. DESIGNATED AGENTS The designated agents for the Seller are: William M. Dolemba Gregory J. Pacelli, SIOR Senior Vice President Principal Mark.Dolemba@Colliers.com Greg.Pacelli@Colliers.com +1 847 571 6014 +1 847 698 8204 Colliers International Disclaimer This document has been prepared by Colliers International for advertising and general information 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 of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2015. All rights reserved. PAGE 2
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. PAGE 3
Demographics 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. Population 1 Mile 3 Mile 5 Mile 2014 Total Population 5,366 50,341 137,571 2019 Population 5,405 50,468 137,942 Pop Growth 2014-2019 0.73% 0.25% 0.27% Average Age 35.70 35.50 35.80 Households 2014 Total Households 2,033 17,313 46,142 HH Growth 2014-2019 0.69% 0.23% 0.22% Median Household Inc $79,053 $72,533 $77,549 (Demographic information from Costar) Access/Location/Services Grayslake Metra Station 500 Feet Downtown Grayslake ¾ Miles Lake Forest Hospital 3 Miles I-94 6 Miles Chicago 40 Miles PAGE 4
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. PAGE 5
Site Aerial PAGE 6
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Locator Map PAGE 9