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    2000 Grand Ave Waukegan, IL 60085

    Sponsored
    For Sale
    $515,000

    High-yield, single-tenant retail property with long-term lease.

    Property size:
    1,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a 1,500 square foot retail building situated on a 15,000 square foot lot in Waukegan, Illinois, at 2000 Grand Avenue. The property boasts ample parking and is currently occupied by Oportun Financial, a national credit tenant, under a lease agreement extending to the end of 2026. The lease includes two four-year renewal options with built-in rent increases, ensuring a stable and predictable income stream for the foreseeable future. Oportun Financial, a mission-driven financial services provider, has been a tenant since 2017, demonstrating a long-term commitment to the location. The tenant is responsible for all day-to-day maintenance, including landscaping and snow removal, minimizing operational burdens for the owner. Furthermore, the tenant reimburses for real estate taxes, significantly reducing the owner's expenses. This turnkey investment offers a compelling opportunity for passive income generation with minimal management requirements. The property's location in Waukegan provides excellent visibility and accessibility. This is an ideal opportunity for investors seeking a low-maintenance, high-return investment with a strong, established tenant. The asking price is $515,000. Please do not disturb the tenant.

    Property Features for 2000 Grand Ave

    General Information

    Property type
    Retail properties
    Square Feet
    1,500 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
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.85733
    Latitude
    42.37059

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    FAQs

    What type of property is this?
    Retail property - High-yield, single-tenant retail property with long-term lease.
    Where is this retail property located?
    The property is located at 2000 Grand Ave Waukegan, IL.
    What is the asking price?
    The asking price for this property is $515,000.
    (708) 859-8000
    Request Owner's contact information
    2000 Grand Ave Waukegan, IL 60085
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    2000 Grand Ave
    Waukegan, IL 60085
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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
    2000 Grand Ave Waukegan, IL 60085
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