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    1601 N Lewis Ave Waukegan, IL 60085

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    For Sale
    Contact for pricing

    Two-story, 18,000 SF building with reuse potential in Waukegan.

    Property size:
    18,040 SF

    Property Features for 1601 N Lewis Ave

    General Information

    Size
    18,040 SF

    Source: Steve Madura Agent Steve Madura

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

    Overview

    Redevelopment Opportunity in Waukegan

    This property presents a sizable redevelopment opportunity situated along a strong retail corridor. The location benefits from high visibility and strong traffic counts, with approximately 20,000 vehicles per day. The property includes an 18,000 square foot two-story building that offers reuse potential. It is located within a densely populated residential area, with a population of approximately 96,000 within a 3-mile radius. Surrounding businesses include ALDI, AutoZone, Burger King, Dunkin' Donuts, Ross, Marshalls, McDonald's, and Wendy's.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Amy Addante Obstetrician-Gynecologist Planned Parenthood - Waukegan ... Family Planning Center NSFC Financial Institution

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon 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
    -87.8545699
    Latitude
    42.3827687

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    FAQs

    What type of property is this?
    Office building - Two-story, 18,000 SF building with reuse potential in Waukegan.
    Where is this office building located?
    The property is located at 1601 N Lewis Ave Waukegan, IL.
    What are key features of this property?
    This property features: - Sizable redevelopment opportunity; - Highly visible location with strong traffic counts (20,000 VPD); - Densely populated residential area (Pop. 96,000 3-mi)
    (847) 504-2478
    Request Owner's contact information
    1601 N Lewis Ave 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
    1601 N Lewis Ave Waukegan, IL 60085
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