Masonry Retail Office Auto Repair
2648-2666 Waukegan Avenue Highland Park, IL 60035
2648-2666 Waukegan Avenue, Highland Park, IL, 60035
$3,750,000
For Sale
$3,750,000
Three masonry commercial buildings include an auto and truck repair facility plus office flex and mixed-use space.
Property Size12,567 SF
Lot Size0.90 Acres
Price / SF$298.40
Days on Market480
Property Features for 2648-2666 Waukegan Avenue
General Information
- Standard status
- Active
- Size
- 12,567 SF
- Lot size
- 0.90 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1950
Listing agency
@properties Commercial
(847) 977-5389
Listed by
Michael Levin · License #475123263
(847) 977-5389
Source
Exitrealty
Added: Mar 29, 2025 Updated: Jul 21 at 3:23PM Checked: Jul 21 at 3:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of @properties Commercial
Investment Insights
Based on property information with market context.
This offering includes three masonry commercial buildings, positioned on a shared site with multiple curb cuts on Waukegan. One building is dedicated to an auto and truck repair facility with approximately 16-foot ceiling height, four DID’s, and triple catch basins. A second one-story office flex warehouse auto body repair building includes approximately 13-foot ceiling height and two DID’s. The third building is a two-story mixed-use structure with two DID’s; the upstairs unit is described as a three-bedroom, one-bath apartment, along with rear storage yard space.
The property is located between Bloom Street and Highwood Ave and is described as having excellent exposure at the entrance to the Highwood shopping and entertainment district. The site includes a large signage area, a classic facade, 200-amp electric service, and high-security entrance doors with cameras. The premises also features a full fire alarm and full sprinkler system, plus a rear storage yard with reported lot dimensions and frontage of approximately 200 feet on Waukegan.
The combined building area is reported as 12,567 square feet, and the combined land site area is reported as 39,232 square feet. The property is listed under B1-A zoning, and the owner is described as negotiable on price with consideration of offers.
The property is located between Bloom Street and Highwood Ave and is described as having excellent exposure at the entrance to the Highwood shopping and entertainment district. The site includes a large signage area, a classic facade, 200-amp electric service, and high-security entrance doors with cameras. The premises also features a full fire alarm and full sprinkler system, plus a rear storage yard with reported lot dimensions and frontage of approximately 200 feet on Waukegan.
The combined building area is reported as 12,567 square feet, and the combined land site area is reported as 39,232 square feet. The property is listed under B1-A zoning, and the owner is described as negotiable on price with consideration of offers.
Key Highlights
- Three masonry commercial buildings at 2666, 2652, and 2648 Waukegan, Highland Park, IL, totaling 12,567 SF on 39,232 SF land.
- 2666 Waukegan: auto and truck repair facility (~4,959 SF) with approx. 16‑ft ceiling height, 4 DID's, and 3 triple catch basins.
- 2652 Waukegan: one‑story office flex/warehouse with 13‑ft ceiling height, 2 DID's, and 3,000 SF.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $307.6k | $24.48 |
| − Vacancy | −$76.6k | −$6.10 |
| EGI | $231.0k | $18.38 |
| − OpEx | −$57.8k | −$4.60 |
| NOI | $173.3k | $13.79 |
12,567 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.89M
NOI $173,278 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$1.84M
$1.61M – $2.14M
NOI $128,523 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$4.34M
$3.80M – $5.06M
NOI $303,717 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Skyline Car Studio — 327 Prairie Ave, Highwood, IL 60040
- North Shore Professional Tools — 426 Bloom St, Highland Park, IL 60035
- Billy's Garage — 401 Sheridan Rd, Highwood, IL 60040
- Bernardi Auto Service Center, Inc. — 2666 Waukegan Ave, Highland Park, IL 60035
- Ruben & John Auto Body Repair — 2652 Waukegan Ave, Highland Park, IL 60035
FAQs
What type of property is this?
Auto shop - Three masonry commercial buildings include an auto and truck repair facility plus office flex and mixed-use space.
Where is this auto shop located?
The property is located at 2648-2666 Waukegan Avenue Highland Park, IL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Three masonry commercial buildings at 2666, 2652, and 2648 Waukegan, Highland Park, IL, totaling 12,567 SF on 39,232 SF land.; 2666 Waukegan: auto and truck repair facility (~4,959 SF) with approx. 16‑ft ceiling height, 4 DID's, and 3 triple catch basins.; 2652 Waukegan: one‑story office flex/warehouse with 13‑ft ceiling height, 2 DID's, and 3,000 SF.
