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    651 S Martin Luther King Dr Waukegan, IL

    For Sale
    $1,999,000

    86,000 SF warehouse suitable for distribution, manufacturing, or storage.

    Property size:
    86,000 SF
    Lot size:
    2.06 Acres

    Property Features for 651 S Martin Luther King Dr

    General Information

    Size
    86,000 SF
    Lot size
    2.06 Acres

    Source: Millennium Properties Real Estate Agent BRAD THOMPSON

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

    Overview

    Waukegan Warehouse with Flexible Workspace

    This 86,000 square foot warehouse features flexible workspace with open office areas and conference/meeting rooms. The building includes 14-foot ceilings, three loading docks, and one drive-in door. It is equipped with 1,600 AMPs of power at 480 Volts, with 3 & 4 phase capabilities. The property is suitable for distribution, manufacturing, or storage purposes. The land area is 130,680 square feet and provides parking for 240 vehicles. It is located in Waukegan, IL. The zoning is B2. Taxes for 2023 were $23,661.08.
    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

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

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

    Similar Places Nearby

    Hal's Self Storage, Bay Marine of Chicago, ABW Self Storage Unit

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.8313168
    Latitude
    42.3641613

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    FAQs

    What type of property is this?
    Warehouse - 86,000 SF warehouse suitable for distribution, manufacturing, or storage.
    Where is this warehouse located?
    The property is located at 651 S Martin Luther King Dr Waukegan, IL.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: - 86,000 SF warehouse space suitable for distribution, manufacturing, or storage.; - Flexible workspace with open office areas and conference/meeting rooms.; - Ample parking with 240 vehicle spaces.
    (312) 338-3012
    Request Owner's contact information
    651 S Martin Luther King Dr Waukegan, IL
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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
    651 S Martin Luther King Dr Waukegan, IL
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