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    102-106 Center St Grayslake, IL 60030

    For Sale
    $629,900

    High-traffic location, redevelopment potential

    Property size:
    3,150 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 3,150 square foot retail property, located at 102-106 Center Street in the thriving downtown Grayslake, IL, presents a unique investment opportunity. Situated on a prime corner lot at the intersection of Center and Slusser Streets, this property benefits from high visibility and foot traffic. Its advantageous location directly faces a municipal parking lot, ensuring convenient access for customers. Across the street, a vibrant mix of restaurants, shops, apartments, and condos further enhances its desirability. The property comprises two buildings, seamlessly combined, offering versatile space previously utilized for medical offices and, most recently, a pharmacy. Currently, 2,500 square feet is available for lease, while the remaining space is occupied by a long-term tenant, an attorney. The property includes a private parking lot accommodating nine vehicles. The flexible layout and downtown zoning (CB) permit significant redevelopment potential, allowing for a structure up to four stories high. This makes it ideally suited for a variety of uses, including a restaurant or bar, potentially incorporating two floors and an outdoor dining area, capitalizing on the bustling downtown atmosphere. The property's prime location, ample space, and redevelopment possibilities make it an exceptional investment prospect in a thriving community.

    Property Features for 102-106 Center St

    General Information

    Property type
    Retail properties
    Square Feet
    3,150 SF

    Building Details

    Year Built
    1951
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grayslake
    County
    Lake
    State
    Illinois
    Longitude
    -88.04207
    Latitude
    42.34447

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    FAQs

    What type of property is this?
    Retail property - High-traffic location, redevelopment potential
    Where is this retail 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 $629,900.
    (847) 596-6100
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    102-106 Center St Grayslake, IL 60030
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    Grayslake, IL 60030
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    102-106 Center St Grayslake, IL 60030
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