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High-End Freestanding Office Building

1125 N Delany Road, Gurnee, IL 60031

For Sale
$942,500

Class A office building in Gurnee, Illinois for sale.

Property Size4,180 SF
Lot Size0.30 Acres
Price / SF$225.48
Days on Market789

Property Features for 1125 N Delany Road

General Information

Standard status Active
Size 4,180 SF
Lot size 0.30 Acres
Property subtype Commercial/Industrial

Taxes and HOA fees

Annual Taxes $14,881

Building Details

Year Built 2001
Listing Agency: @properties Commercial
Listed By: Michael Levin · License IL #475123263
Source: Exitrealty
Added: Sep 14, 2024 Changed: Aug 27 Last Checked: Aug 14 at 6:04AM

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 @properties Commercial

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Investment Insights

Based on property information with market context.

This freestanding Class A professional office building is located in Gurnee, Illinois. The newer-construction commercial property features O1 Zoning, Restricted Office District, premium build quality, and a functional design. The two-level building has a total area of 4180 square feet and is situated on a 0.30-acre (13,068 square feet) land site. The first floor includes an open reception area and foyer, six offices or treatment rooms, two ADA-compliant bathrooms, a Concord elevator/lift, two utility rooms, and two storage rooms. The furnaces have Respicaire Oxy 4 Plasma Air Scrubbers, installed in 2020. The upper level features open rooms with high ceilings, a large conference room/special event area with north-facing windows, and a full kitchen with a wet bar/serving bar. Many offices have large windows, high ceilings, and a wide-open interior space. The building has excellent road access, located just south of the intersection of Route 41 and Delany Road, with traffic volumes of 30,500 vehicles per day on Route 41 and 5,100 vehicles per day on Delany Road. It offers easy access to the Gurnee Business District and the north/south highway corridor between Chicago and Milwaukee, WI. The building utilizes a 200+ amp electric system and has a large parking lot for 15 cars. The building is wired for music in all six of the first-floor offices, with individual controls for the level of sound. A new roof was installed in 2023. The property is fully landscaped. Ideal for professional or medical use, the property is suitable for a variety of commercial uses, including medspa, hospice care, medical center, surgical center, dental, podiatry, law firm, insurance, technology, financial trading, or accounting office. The building can be reverted to four equal-sized units with separate gas and electric accounts.

Key Highlights

  • High‑end, freestanding Class A office building in a desirable Gurnee business corridor.
  • Versatile O1 Zoning allows for a variety of professional or medical uses, or redevelopment potential.
  • Premium build quality with high‑end office build‑out, high security, and home‑like design.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$60,544
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,880 $1.2M
Cap Rate 7%
$864,914 $864.9K
Cap Rate 9%
$672,711 $672.7K
Market Conditions
NOI Build-Up for 4,180 SF
Gross rent
$110.4K $26.40/SF
− Vacancy
−$9.4K −$2.26/SF
EGI
$100.9K $24.14/SF
− OpEx
−$40.4K −$9.66/SF
NOI
$60.5K $14.48/SF
Area
Lake County, IL
Vacancy
8.56%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,880
Cap Rate 7%
$864,914
Cap Rate 9%
$672,711

Alternative Uses

Best Use
Healthcare Medical
$864.9K
$756.8K – $1.01M (±1% cap)
NOI $60,544 @ 7.0% cap · market cap 6.42%
Second Best
Office B
$823.4K
$720.4K – $960.6K (±1% cap)
NOI $57,635 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.14M
$997.3K – $1.33M (±1% cap)
NOI $79,786 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Current Use

Ganfield Therapeutics Physician

Suggested Use

Top Pick Real Estate Agency Restaurant Parking Lot & Garage Grocery & Convenience Store (Bike/Boat/Book/etc) Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

500
Businesses Nearby

Demographics for 60031, IL

37,650
Population
14,796
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
95%
High-School Grad
19.0 sq mi
ZIP Area
1,982
Density / Sq Mi
$114,008
Median Household Income
$56,770
Median Earnings
$1,601
Median Rent
$322,300
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Properties on Market for Office buildings in Lake County

Jul
Aug
Sep
Oct

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025

Frequently Asked Questions

What type of property is this?
Office building - Class A office building in Gurnee, Illinois for sale.
Where is this office building located?
The property is located at 1125 N Delany Road Gurnee, IL.
What is the asking price?
The asking price for this property is $942,500.
What are key features of this property?
This property features: High‑end, freestanding Class A office building in a desirable Gurnee business corridor.; Versatile O1 Zoning allows for a variety of professional or medical uses, or redevelopment potential.; Premium build quality with high‑end office build‑out, high security, and home‑like design.
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