Waukegan Office Building For
For Sale
Contact for pricing
1400 Sunset Ave, Waukegan, IL 60087
Stabilized, fully occupied office property with long-term tenants and durable construction.
Property Size11,784 SF
Lot Size0.57 Acres
Price / SF$93.35
Days on Market195
Property Features for 1400 Sunset Ave
General Information
Standard status
Active
Size
11,784 SF
Class
C
Total Parking Spaces
33
Lot size
0.57 Acres
Property subtype
Office
Zoning
B-2
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Owner/User
Net Operating Income
$91,967
Building Details
Year Built
1960
Year Renovated
2024
Stories
1
Units
20
Tenancy
Multi
Listing Agency:
Real Broker LLC IL
Listed By:
Robert Satten · License #475.101369
Source:
Crexi
Added: Feb 6
Changed: Aug 14
Last Checked: Aug 19 at 9:17AM
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 Real Broker LLC IL
Investment Insights
Based on property information with market context.
The property at 1400 Sunset Road, Waukegan, Illinois, is a stabilized, fully occupied office building. It offers an opportunity to acquire an office property supported by long-term tenancy and durable construction. The building contains 5 units. It provides immediate, dependable cash flow with minimal near-term rollover risk, making it suitable for passive investors and 1031 exchange buyers. The property consists of a one-story, approximately 10,839 square foot office building constructed of brick and concrete block, offering low maintenance requirements and long-term ownership stability. Additional features include a four-car attached garage (approximately 945 square feet), an unfinished basement, 34 on-site parking spaces, and signage exposure on an approximately 24,732 square foot lot. The asset is offered at a 6.81% in-place Cap Rate.
Key Highlights
- 100% Occupied with Long‑Term Tenancy, providing immediate and dependable cash flow.
- Low‑Maintenance Brick and Concrete Block Construction ensures long‑term ownership stability.
- Attractive 6.81% In‑Place Cap Rate offers income security and long‑term return potential.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 60087, IL
28,207
Population
10,047
Households
2.8
Avg Household Size
36
Median Age
18%
College-Educated
77%
High-School Grad
13.0 sq mi
ZIP Area
2,170
Density / Sq Mi
$79,162
Median Household Income
$38,929
Median Earnings
$1,294
Median Rent
$185,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Stabilized, fully occupied office property with long-term tenants and durable construction.
Where is this office building located?
The property is located at 1400 Sunset Ave Waukegan, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 100% Occupied with Long‑Term Tenancy, providing immediate and dependable cash flow.; Low‑Maintenance Brick and Concrete Block Construction ensures long‑term ownership stability.; Attractive 6.81% In‑Place Cap Rate offers income security and long‑term return potential.
