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Description
Vacant land borders both Fairfield Road & Bonner Road on the edge of Wauconda. The village identifies this parcel as commercial in its long range plan. An easement exists for bringing water and sewer to the property under Millennium trail. Traffic counts conducted in 2009, before the traffic light was installed and intersection was widened, were 13,634 for Fairfield Road and 5,632 for Bonner Road, with anticipated annual growth of 3 percent. This parcel is to be sold together with PIN 10-19-200-003, which has a 4-unit bldg that now generates $32,775 annual NI. See ALTA & site plan for proposed coffee shop, other retail, and apartments above in attachments. This property is on the intersection of two county highways. Lake County Transportation Department's general policy is to provide access only from the least traveled road. It is important to note, however, that if access is only provided from Bonner Road, all access and egress would need to cross over the Forest Preserve's Millennium Trail easement along the property's southern edge. It is the seller's opinion that a strong argument can be made for a right-only in and right-only out access and egress from the Fairfield Road southbound lane as a way of mitigating hazards to pedestrians, bicyclists, runners and equestrians on the trail. Should the Forest Preserve District elect to reroute the trail underneath Bonner Road via tunnel to avoid such potential hazard, that would effectively abandon the easement, making more property available for business expansion.
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