106 Old Elm Road, Lindenhurst, IL 60046

Property Description

Exceptional multifamily development opportunity in the heart of Lindenhurst. Offered together, 104, 106, and 108 Old Elm Road represent one of the few remaining infill development sites in the Village zoned R-3, allowing for higher-density residential development in an established neighborhood setting. With housing demand continuing to outpace supply throughout Lake County, this approximately 3-acre site presents a rare opportunity to develop a proposed 24-unit multifamily community in a market with strong fundamentals, limited new inventory, and increasing demand for quality rental housing. The property's zoning, location, and surrounding infrastructure position it as a compelling investment for developers seeking a project with significant upside and a straightforward path to meeting local housing needs. Situated among established residential neighborhoods, the site benefits from existing utilities, convenient access to shopping, dining, employment centers, and major transportation routes. Residents will enjoy proximity to Lakes Community High School, a district recognized throughout the region for its educational offerings and community support. Lindenhurst continues to attract residents seeking an exceptional quality of life, supported by a highly regarded Park District, numerous community parks, recreation programs, and year-round events. The property is also located near the Chain O'Lakes recreational area, Hastings Lake, and thousands of acres of Lake County Forest Preserves offering boating, fishing, hiking, biking, and outdoor recreation opportunities that enhance long-term residential demand. As one of the last remaining multifamily development sites within the Village, this property offers a unique combination of zoning entitlement, location, and market demand. Whether developed as a 24-unit apartment community or another permitted residential product, the site represents a rare opportunity to add much-needed housing in a desirable Lake County location with strong demographic and economic drivers.

Listing Status:

Active

Data Last Updated:

September 21, 2026 at 4:17AM

Listing Office:

Baird & Warner : 847-367-1855

Listing Agent:

Benjamin Lovinger : 847-778-9519

MLS ID:

12674820

Exterior

• Parking: Parking spaces: 0

Location

• Road/Access: AsphaltTownship Road
• Originating MLS: mred
• School District: 41
• County: Lake

Lot

• Zoning: MULTI06021050360000
• Current Use: Multi-Family

Utilities

• Utilities: Electric to SiteNatural Gas AvailableSewer ConnectedWater Available

Financial

• Source: mred
• Ownership: Fee Simple