It is in Kazordoon, about 55 steps south of the spot the map marks with that name.

And 2 down from the surface once you are there.

• 1 — Kazordoon, as the map itself names it
• 2 — the ground above the treasure

• A rope. You drop in through a hole and a sewer grate, and a rope is how you climb back out.
• Something for dragon, beholder and dwarf guard — they live down there.

The chest is 2 floors under the surface. Going down over it, this is what each floor uses:

1. Ground: down through a hole.
2. 1 down: down through a sewer grate.

• 1 — the way in: a hole, ground
• → — the treasure lies this way

• 2 — a sewer grate, 1 down
• → — the treasure lies this way

• 1-3 — the chests

The strongest 14 of 21 kinds whose nests reach this place.

There are 3 chests here under 3 quest numbers, so you can take them all.