Grayslake Corner Location For
102-106 Center St Grayslake, IL 60030
102-106 Center St, Grayslake, IL, 60030
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For Sale
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Prime corner location in downtown Grayslake with redevelopment potential.
Property Size3,150 SF
Price / SF$190.44
Days on Market853
Property Features for 102-106 Center St
General Information
- Standard status
- Active
- Size
- 3,150 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing Agency
Re/Max Plaza
(847) 601-1201
Listed by
Jeffrey Bell · License #IL 475.095372
Source
Crexi
Added: Mar 18, 2024 Checked: Jul 17 at 5:26 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Re/Max Plaza
Investment Insights
Based on property information with market context.
Located at the corner of Center Street and Slusser Street, this property is situated in downtown Grayslake, directly across the street from restaurants, stores, apartments, and condos. The property is in front of a municipal parking lot. The property consists of two buildings that were combined years ago. The 3,150 square foot property has been used for a variety of purposes, including office space and a local pharmacy. Currently, 2,500 square feet is vacant, and the remainder is leased by an attorney. The property includes a private parking lot for 9 cars. The downtown zoning (CB) allows for up to 4 stories in height. Redevelopment opportunities exist, including the potential for a restaurant or bar with two floors and an outdoor dining area.
Key Highlights
- Prime corner location in downtown Grayslake (Center and Slusser St.)
- Redevelopment opportunity with downtown zoning (CB) allowing up to 4 stories
- Private parking lot with 9 spaces
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.3k | $15.00 |
| − Vacancy | −$1.2k | −$0.39 |
| EGI | $46.0k | $14.61 |
| − OpEx | −$13.8k | −$4.38 |
| NOI | $32.2k | $10.23 |
3,150 SF · lease $15.00/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$460.2K
$402.7K – $536.9K
NOI $32,215 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.6K – $1.27M
NOI $76,129 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Prime corner location in downtown Grayslake with redevelopment potential.
Where is this storefront property located?
The property is located at 102-106 Center St Grayslake, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Prime corner location in downtown Grayslake (Center and Slusser St.); Redevelopment opportunity with downtown zoning (CB) allowing up to 4 stories; Private parking lot with 9 spaces
