Is Eye of Ugin legal in Standard, Modern, and Commander?

Eye of Ugin is legal in: Legacy, Vintage, Commander. It is banned in: Modern.

What type of card is Eye of Ugin?

Eye of Ugin is a Legendary Land. Its oracle text reads: "Colorless Eldrazi spells you cast cost {2} less to cast. {7}, {T}: Search your library for a colorless creature card, reveal it, put it into your hand, then shuffle. *An eye closes. A race awakens.*"