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    3035 Belvidere Rd Waukegan, IL 60085

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    For Sale
    $2,962,000

    100% occupied strip building with long-term leases and rental increases.

    Property size:
    14,180 SF
    Lot size:
    1.30 Acres

    Property Features for 3035 Belvidere Rd

    General Information

    Size
    14,180 SF
    Lot size
    1.30 Acres

    Source: CP Partners Agent Benjamin Udell

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

    Overview

    Occupied Strip Building For Sale

    This 100% occupied inline strip building features long-term leases with annual rental increases. The property was recently renovated in 2024, which included roof replacement on 40% of the leasable area. It includes an endcap with a drive-thru. The property is anchored by Concentra. The average household income within a 1-mile radius of the subject property is $103,000. The building has a total area of 14,180 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Checkers Fast Food 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
    -87.8769178
    Latitude
    42.3486939

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    FAQs

    What type of property is this?
    Strip mall - 100% occupied strip building with long-term leases and rental increases.
    Where is this strip mall located?
    The property is located at 3035 Belvidere Rd Waukegan, IL.
    What is the asking price?
    The asking price for this property is $2,962,000.
    What are key features of this property?
    This property features: - 100% occupied with long-term leases and annual rental increases.; - Anchored by Concentra, a national leader in occupational health services.; - Endcap with drive-thru.
    (415) 274-2700
    Request Owner's contact information
    3035 Belvidere Rd 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
    3035 Belvidere Rd Waukegan, IL 60085
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