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$9,400,000

Beds
3
Baths
3.0
sq ft
3,093

37800 Illinois St, Lady Lake, FL 32159

37800 Illinois St

LADY LAKE, FL 32159

  • Pending
Under contract-accepting backup offers. Discover the vast potential of this sprawling 146-acre estate, boasting an impressive 3,000 feet of pristine Lake Griffin water frontage. Currently a serene horse ranch where tranquility meets nature, this property also features a convenient boat ramp for easy lake access. Let your imagination guide you to the countless possibilities for this land: envision a vibrant residential community, a luxury hotel resort, an expansive RV park, or elegant condominiums. Enhance these developments with potential amenities like fishing piers, a full-service marina with both wet and dry storage, and a private pond perfect for leisurely fishing or simply relaxing by the water. Recreation opportunities are boundless with facilities for pickleball, tennis, swimming pools, spas, and a variety of both board and outdoor games. Existing structures include a horse barn, ideal for those considering an equestrian element in their vision, and a covered paddock that can double as a picnic or event area. The onsite residence could serve as a charming clubhouse or be removed to suit your master plan. Opportunities like this are rare, with such extensive acreage coupled with significant water frontage. Reach out today to schedule a viewing or request a virtual tour via Facetime if you’re not in the area. Let’s explore how this property can exceed all your real estate aspirations.

Details

Property type

Single Family Residence

Est. home value

$2,475,903

Lot size

146.4 acres

Price per sq ft

$3,040

Year built

2006

Annual property taxes

$26,052.14

HOA

No

Price History

10/22/2024
StellarMLS

StellarMLS #G5082069

Pending
$9,400,000
07/03/2024
StellarMLS

StellarMLS #G5082069

Price change
$9,400,000
+17.5%
05/10/2024
StellarMLS

StellarMLS #G5082069

Listed
$8,000,000

Schools & Community

Elementary school: 

Villages Elem of Lady Lake

Middle school: 

Carver Middle

High school: 

Leesburg High

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

The John M Crosby Trust

Loan start date

September 2021

Original loan amount

$2,300,000

Est. remaining balance

Not provided

Interest rate

5%

Loan type

Purchase Money Mortgage, 7 year

Seller

Wayne Robert Gierum and Bruce A Gierum

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Pending/Under Contract

Tomo last checked: 11/08/2024 at 4:25 AM

Listing updated: 10/22/2024 at 10:48 AM

Listed by: Patrick Shores, COLDWELL BANKER VANGUARD LIFESTYLE REALTY Phone #: (800) 222-3786

MLS: StellarMLS #G5082069

StellarMLS logo

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