Waukegan, IL Commercial Real Estate for Sale

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Updated: Jun 26, 2025

Freestanding Office Building with Signage

1200 N Green Bay Road, Waukegan, IL 60085

$499,900

2,808 sqft

2,808 SF freestanding building with finished basement area included
Five private rooms, conference room, two fireplaces, and two baths
18‑car parking capacity with entry carport
Grandfathered large sign at a signalized corner
Newer roof installed in 2019

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This listing looks promising.

Here's a quick look at some key insights for

1200 N Green Bay Road, Waukegan, IL 60085

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Est. Cap Rate

7.8%
Above avg (5.9%)
Est. NOI

$39K
Annual
Price @ 7% Cap

$553K
Above asking
Property Type

Commercial (General)
Built 1966

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Updated: Aug 20

Breakfast & Diner with Gaming Parlor

1451 Golf Road, Waukegan, IL 60085

$549,000

0.65 AC lot

3,902‑square‑foot restaurant building
Business, real estate, and equipment included
Video gaming parlor operates into the late evening
Full basement for equipment and cooler storage
0.6457‑acre property at a stoplight intersection

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Commercial Property in Waukegan, IL

1400 Sunset Avenue, Waukegan, IL 60087

$1,100,000

0.57 AC lot

Commercial property for sale in Waukegan, Illinois.

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Waukegan Commercial Property for Sale

403 Grand Avenue, Waukegan, IL 60085

$450,000

0.14 AC lot

Commercial property available in Waukegan, Illinois.

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Warehouse with Office and Outdoor Storage

1020 Elizabeth Ave, Waukegan, IL 60085

$4,500,000

8,800 sqft 3.02 AC lot

Industrial shop with 17-foot clear height, a 14-foot grade-level door, and fenced outdoor storage, plus leased office space.

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Historic Masonic Temple with Grand Ballroom

220 N Sheridan Road, Waukegan, IL 60085

$2,000,000

0.24 AC lot

Historic Masonic Temple with expansive gathering areas, a grand ballroom, and reception spaces on N Sheridan Road.

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Three-Story Office Building Suites

5 S County Street, Waukegan, IL 60085

$469,975

0.04 AC lot

Three-story brick office building with an elevator and six suites, each featuring reception, lobby/sitting room, and two offices.

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Brick Church Building with Family Center

2126 10th Street, Waukegan, IL 60085

$469,000

0.39 AC lot

Brick church building with a family center, fully equipped kitchen, and central air cooling.

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89,000 SF Warehouse with Offices

651 S Martin Luther King Jr Avenue, Waukegan, IL 60085

$1,900,000

89,000 sqft

Versatile warehouse with ample parking and office space for sale.

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Brick Church Facility with Family Center

2126 10th Street, Waukegan, IL 60085

$469,000

0.39 AC lot

Well-maintained brick church with central air, ample parking, and a lower-level family center with kitchen and Sunday school space.

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Church Building with Outbuilding

800 CHESTNUT Street, Waukegan, IL 60085

$350,000

0.23 AC lot

Religious facility with worship space, office areas, kitchen, basement, and a separate classroom building.

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Historic Institutional Building

574 S Mcalister Avenue, Waukegan, IL 60085

Contact for pricing

14,001 sqft 0.55 AC lot

Built in 1900, this large institutional property offers flexible space and a sizable site for adaptive reuse projects.

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Prime Corner Development Site Available

Brookside Avenue, Waukegan, IL 60085

$700,000

1.52 AC lot

High-visibility 1.52-acre corner lot ideal for various commercial uses.

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Renovated Brick Office Building

222 N County Street, Waukegan, IL 60085

$750,000

0.19 AC lot

Separate office units, central air, and professional-use layouts support a range of commercial occupancy needs.

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Multi-Tenant Retail Center with Parking

2662-2674 West Washington Street, Waukegan, IL 60085

Contact for pricing

9,176 sqft

Four-unit retail center built in 2007 with 52 parking spaces and triple-net tenants operating on leases through 2019–2020.

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Historic Brick Mixed-Use Building

574 S Mcalister Avenue, Waukegan, IL 60085

Contact for pricing

0.55 AC lot

Brick construction and a broad floor plan support adaptive reuse concepts.

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Freestanding Office Building with Signage

1200 N Green Bay Road, Waukegan, IL 60085

$499,900

0.31 AC lot

Signalized corner property with private rooms, conference space, and on-site parking.

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Waukegan Land Bundle For Sale

1504 W Glen Flora Avenue, Waukegan, IL 60085

$499,999

11.76 AC lot

Three parcels of land totaling 11.76 acres in Waukegan, IL.

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Updated Manufacturing Property

3055 Westwaukee Road, Waukegan, IL 60085

$750,000

Two distinct shop areas are configured for machining and mechanical work, with some equipment included in the sale.

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Commercial Land with Street Frontage

1213 Grand Avenue, Waukegan, IL 60085

$559,000

Vacant commercial parcel with B-2 and B-3 zoning at a signalized intersection near retail, transit, and established neighborhoods.

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Waukegan Warehouse with Outdoor Storage

1445 11th St, Waukegan, IL 60085

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82,500 sqft 4.12 AC lot

82,500 SF warehouse on 4.12 acres with fenced storage.

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Waukegan Land For Sale

1730 W Beach Road, Waukegan, IL 60087

$152,900

1.41 AC lot

1.41 acre corner lot ready for development in Waukegan.

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Waukegan Office Building For Sale

1400 Sunset Ave, Waukegan, IL 60087

Contact for pricing

11,784 sqft 0.57 AC lot

Stabilized, fully occupied office property with long-term tenants and durable construction.

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Commercial Lot in Waukegan, IL

603 N Austin Avenue, Waukegan, IL 60085

$199,900

Fenced commercial lot near major intersections, suitable for parking/development.

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Waukegan, IL Commercial Real Estate Market Trends and Statistics

Explore 78 commercial real estate for sale in Waukegan, IL, showcased through 78 active listings on our real estate platform. These investment opportunities span a total of 644,977 square feet of properties for sale, with an estimated market value of $21,936,198.

Sale prices for business properties in Waukegan, IL start at $38,000, averaging $626,748, and reaching up to $4,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 100K

Population Growth (5Y) +2.8%

Median Household Income $68,390

College Educated 16.7%

High-Yield Neighborhoods for Investment

Identify Waukegan submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
60087	$363.2K
60085	$564.3K

Taxes & Financing

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Lake County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Waukegan fall within the 100,000+ square foot range.

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