Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6136 West Grand Ave Gurnee, IL 60031

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    65,819 SF ground level retail space in Gurnee, Illinois.

    Property size:
    78,630 SF
    Lot size:
    78,630 SF

    Property Features for 6136 West Grand Ave

    General Information

    Size
    78,630 SF

    We can help!

    Listing Contact
    Sean Mccourt
    Sean Mccourt
    Source: Cbre

    Listing Agency: CBRE Chicago Listing Agent: Sean Mccourt

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

    Learn more

    Overview

    Gurnee Retail Anchor Opportunity

    This 65,819 square foot ground-level anchor space is located in Gurnee, Illinois. The property benefits from its location within a large retail destination, featuring over 200 retail, dining, and entertainment options, including 15 major anchor tenants. It is positioned as the number one factory outlet in Illinois, attracting 9.6 million annual visits. The location benefits from high visibility on Grand Avenue, with 57,800 in traffic. The property is easily accessible via a full I-94 interchange and four traffic light entrances. The surrounding trade area serves both the Chicago and Milwaukee metro areas, encompassing a population of over 500,000 with an average household income of $109,816. The property is located at the same interchange as Six Flags Great America and Great Wolf Lodge.
    Location Intelligence

    Current Use by Public Records

    Round1 Bowling & Arcade Arcade & Gaming Center Sears Appliance Repair Home Appliance Store Steven Udesky Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9606706
    Latitude
    42.3886501

    Nearby Similar for Lease

    • Contact for pricing

      Gurnee Office Space For Lease

      Stabilized multi-tenant office asset in Gurnee, Illinois.
      6475 Washington St, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Commercial Space For Rent

      Commercial space in Gurnee, suitable for automotive or retail businesses.
      3816 Grandview Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Commercial Space For Rent

      First floor commercial unit in Gurnee near Hwy 41.
      3840 Grandview Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Office Space For Rent

      Well-maintained office space with convenient location and ample parking.
      5455 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Mixed-Use Property on Grand Avenue

      Mixed-use property with retail, office, and warehouse space available.
      3575 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Office Space For Rent

      Second floor office space available in Gurnee, Illinois.
      3840 Grandview Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Mixed-Use Property on Grand Avenue

      Versatile commercial space with high visibility and flexible zoning.
      3575 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Commercial Space for Rent

      Convenient Gurnee location with multiple possibilities.
      3816 Grandview Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing
      26,836 SF

      Retail Space Near Gurnee Mills

      Retail space with high visibility near Gurnee Mills.
      6050 Gurnee Mills Cir E, Gurnee, IL 60031
      View Details
    • Contact for pricing
      1,327 SF

      Gurnee Office Space Available

      Office space available for rent in Gurnee, Illinois.
      1425 Hunt Club Rd, Gurnee, IL 60031
      View Details
    • Contact for pricing
      1,327 SF

      Gurnee Office Space Available

      Office space available for rent in Gurnee, Illinois.
      1445 Hunt Club Rd, Gurnee, IL 60031
      View Details
    • Contact for pricing
      26,033 SF

      Gurnee Warehouse with Loading Docks

      26,033 SF warehouse with loading docks available for lease.
      3841-3865 Swanson Ct, Gurnee, IL 60031
      View Details

    FAQs

    What type of property is this?
    Shopping mall - 65,819 SF ground level retail space in Gurnee, Illinois.
    Where is this shopping mall located?
    The property is located at 6136 West Grand Ave Gurnee, IL.
    What are key features of this property?
    This property features: - Super regional anchor opportunity: **65,819 SF ground level anchor space with end cap and Grand Ave visibility.**; - Huge traffic: #1 Factory Outlet in Illinois with 9.6 Million Annual Visits.; - Retail co-tenancy: 1.8 Million SF Retail Destination with 200+ Retail, Dining and Entertainment Options and 15 Major Anchor Tenants.
    (312) 297-7688
    Request Owner's contact information
    6136 West Grand Ave Gurnee, IL 60031
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6136 West Grand Ave
    Gurnee, IL 60031
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    6136 West Grand Ave Gurnee, IL 60031
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sean Mccourt
    Sean Mccourt
    (312) 297-7688 (312) 935-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!