Contact us: 563.441.1776
Description
Prime 17+ Acre Development Opportunity. Gages Lake, Illinois Residential - Commercial - Institutional - Luxury Estate Potential. Tucked in the heart of Lake County, this rare 17+ acre property offers the feeling of the North Woods without the long commute. Mature trees, wooded walking trails, and a stocked pond with a sandy beach create a peaceful natural setting rarely found this close to town. The property includes two single-family homes and one duplex producing rental income, providing immediate revenue while you plan the future of the land. With mixed-use commercial GC and residential R4 zoning already in place, the possibilities are exceptional - from residential development to an institutional campus, hobby farm, equestrian property, a private family compound, or a luxury estate. Imagine building your dream compound tucked into the woods toward the back of the property, running a business near the road frontage, and leveraging the existing homes for income in the front. The setting offers the feel of a North Woods weekend retreat - yet it's located right in Lake County, making it easy to enjoy nature without leaving the suburbs. The layout also allows owners to enjoy the property now while thoughtfully planning future improvements or phased development. Properties of this size and natural character are increasingly rare in Lake County, making this a compelling opportunity to create a private legacy estate. Located along Gages Lake Road, next to a school and the established Wooded Glen subdivision, this property represents a truly rare infill opportunity in Lake County. The 17+ acre parcel is offered at $3,300,000, with the option to acquire an additional .83-acre parcel featuring a beautiful 2700+ sq ft home, creating a full 18-acre offering for $3,950,000. --CONFIRMED SHOWINGS REQUIRED TO VIEW THE PROPERTY-
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Year Built: 1969
Lot Size: 17.50 acres
General Information
County: Lake
Listed By:
Coldwell Banker Realty
847-234-8000
MRED MLS
MLS ID: 12590397
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18238 W Gages Lake Road, Grayslake, IL 60030.
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| Loan Type | FHA 30 Year Fixed | 30 yr Jumbo |
| Purchase Price | $3,300,000 | $3,300,000 |
| Down Payment | $115,500 | $660,000 |
| Monthly Mortgage Amount | $19,167 | $15,406 |
| Taxes | $4593 | $4593 |
| Insurance | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 |
| Monthly Mortage Insurance | $1,979 | $0 |
| Monthly Estimated Total | $26,700 | $20,960 |
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. Information on this site was last updated 03/15/2026. The listing information on this page last changed on 03/15/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sun 03/15/2026 12:44:58 AM EST) or MRED MLS (last updated Sun 03/15/2026 12:39:44 AM EST) or SCWMLS (last updated Sat 03/14/2026 11:54:47 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Sat 03/14/2026 10:15:29 PM EST) or Cedar Rapids MLS (last updated Sat 03/14/2026 10:44:16 PM EST) or NEIRBR MLS (last updated Sun 03/15/2026 12:38:42 AM EST) or ICAAR MLS (last updated Sat 03/14/2026 11:37:34 PM EST) or ECIMLS (last updated Sat 03/14/2026 11:44:13 PM EST) or RMLSA (last updated Sun 03/15/2026 12:40:56 AM EST) or Muscatine MLS (last updated Sun 03/15/2026 12:30:23 AM EST) or No Coast MLS (last updated Sun 03/15/2026 12:34:20 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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Based on information submitted to the MLS GRID. 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.
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