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    511 S Green Bay Rd Waukegan, IL 60085

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    For Lease
    $12 SF/Yr

    Retail space for lease with high traffic exposure.

    Property Features for 511 S Green Bay Rd

    General Information

    Standard status
    Active

    Building Details

    Year built
    1984
    Source: Corcoran

    Listing Agent: John Pantelopoulos

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Space on Green Bay Road

    This retail space offers excellent exposure on a major thoroughfare in Waukegan. The location benefits from high traffic counts, exceeding 23,000 vehicles per day, and ample parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    El Mercadito Supermarket ... Restaurant El Mercadito Waukegan Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.8734846
    Latitude
    42.3518528

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    FAQs

    What type of property is this?
    Retail space - Retail space for lease with high traffic exposure.
    Where is this retail space located?
    The property is located at 511 S Green Bay Rd Waukegan, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Excellent exposure on a major thoroughfare.; - High traffic count (23,000+ VPD).; - Plenty of parking.
    (224) 730-1953
    Request Owner's contact information
    511 S Green Bay Rd Waukegan, IL 60085
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    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
    511 S Green Bay Rd Waukegan, IL 60085
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