Restored Victorian Building in
For Sale
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132 N West St, Waukegan, IL 60085
Restored Victorian building suitable for office or live/work space.
Property Size2,064 SF
Price / SF$115.79
Days on Market235
Property Features for 132 N West St
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Office, Mixed Use
Zoning
H/C
Investment Type
Owner/User
Building Details
Year Built
1930
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Apex Commercial Realty LLC
Listed By:
Michael Purtell · License #IL 475.203792
Source:
Crexi
Added: Feb 12
Changed: Oct 1
Last Checked: Oct 4 at 8:42AM
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 Apex Commercial Realty LLC
Investment Insights
Based on property information with market context.
This beautifully restored Victorian building is located in downtown Waukegan, near municipal buildings, the Lake County Courthouse, attorneys' offices, restaurants, and entertainment venues. The Metra station and Lake Michigan are also in close proximity. The property is suitable for office use or as a live-work space for an owner-user. The main floor features three large rooms, a kitchenette, a full bath, and a powder room. The second floor includes three large rooms, one smaller room, and a half bath. The property size is 2064 square feet.
Key Highlights
- Restored Victorian building, ideal for office or live/work.
- Prime downtown Waukegan location, near municipal buildings, courthouse, restaurants, and entertainment.
- Close to Metra station and Lake Michigan.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,362
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,240
$427.2K
Cap Rate 7%
$305,171
$305.2K
Cap Rate 9%
$237,356
$237.4K
Market Conditions
NOI Build-Up for 2,064 SF
Gross rent
$37.2K $18.00/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$34.2K $16.56/SF
− OpEx
−$12.8K −$6.21/SF
NOI
$21.4K $10.35/SF
Area
Lake County, IL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,240
Cap Rate 7%
$305,171
Cap Rate 9%
$237,356
Alternative Uses
Best Use
Office B
$406.6K
$355.7K – $474.3K
NOI $28,459 @ 7.0% cap · market cap 11.91%
Second Best
Mixed Use
$305.2K
$267.0K – $356.0K
NOI $21,362 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$712.6K
$623.5K – $831.4K
NOI $49,882 @ 7.0% cap · market cap 20.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 60085, IL
71,609
Population
26,781
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
74%
High-School Grad
14.8 sq mi
ZIP Area
4,838
Density / Sq Mi
$64,330
Median Household Income
$35,645
Median Earnings
$1,133
Median Rent
$164,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restored Victorian building suitable for office or live/work space.
Where is this mixed-use property located?
The property is located at 132 N West St Waukegan, IL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Restored Victorian building, ideal for office or live/work.; Prime downtown Waukegan location, near municipal buildings, courthouse, restaurants, and entertainment.; Close to Metra station and Lake Michigan.
