Waukegan Warehouse with Outdoor
For Sale
Contact for pricing
1445 11th St, Waukegan, IL 60085
82,500 SF warehouse on 4.12 acres with fenced storage.
Property Size82,500 SF
Lot Size4.12 Acres
Price / SF$49.09
Days on Market241
Property Features for 1445 11th St
General Information
Standard status
Active
Size
82,500 SF
Lot size
4.12 Acres
Property subtype
Industrial
Zoning
I (Light Industrial)
Occupancy
100%
Lease Type
NNN
Net Operating Income
$293,400
Building Details
Year Built
1953
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Tyler Sharp · License #IL 177869
(815) 904-3422
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 Marcus & Millichap - Chicago Downtown
Investment Insights
Based on property information with market context.
The property at 1445 11th Street in Waukegan, Illinois, offers approximately 82,500 square feet of warehouse space on a 4.12-acre lot. This single-tenant asset, leased to QXO, features clear heights ranging from 12 to 18 feet. It includes three dock-high doors and two drive-in doors, along with a full sprinkler system. A notable feature is the 1.6 acres of fenced-in industrial outdoor storage space (IOS). The property is situated between Illinois Routes 131 and 137, north of the Great Lakes Naval Station, and offers proximity to Interstate 94. QXO, identified as the largest publicly traded distributor of roofing, waterproofing, and complementary building products in North America, initiated a new 10-year lease in November 2025 on a triple-net basis at $3.56 per square foot, with 3.0 percent annual escalations.
Key Highlights
- Single‑tenant property leased to QXO, a major distributor of building products.
- New 10‑year triple‑net lease initiated in November 2025 with 3.0 percent annual escalations.
- Approximately 82,500 square feet of warehouse space on 4.12 acres.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$355,135
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,102,700
$7.1M
Cap Rate 7%
$5,073,357
$5.1M
Cap Rate 9%
$3,945,944
$3.9M
Market Conditions
NOI Build-Up for 82,500 SF
Gross rent
$534.6K $6.48/SF
− Vacancy
−$27.3K −$0.33/SF
EGI
$507.3K $6.15/SF
− OpEx
−$152.2K −$1.84/SF
NOI
$355.1K $4.30/SF
Area
Lake County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,102,700
Cap Rate 7%
$5,073,357
Cap Rate 9%
$3,945,944
Alternative Uses
Best Use
Warehouse
$6.16M
$5.39M – $7.19M
NOI $431,235 @ 7.0% cap · market cap 10.65%
Second Best
Industrial
$5.07M
$4.44M – $5.92M
NOI $355,135 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$28.48M
$24.92M – $33.23M
NOI $1,993,844 @ 7.0% cap · market cap 49.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Under-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Parkview Storage — 1504 14th St, Waukegan, IL 60085
- Self Storage Units Waukegan IL — 2221 Belvidere Rd, Waukegan, IL 60085
Frequently Asked Questions
What type of property is this?
Warehouse - 82,500 SF warehouse on 4.12 acres with fenced storage.
Where is this warehouse located?
The property is located at 1445 11th St Waukegan, IL.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: Single‑tenant property leased to QXO, a major distributor of building products.; New 10‑year triple‑net lease initiated in November 2025 with 3.0 percent annual escalations.; Approximately 82,500 square feet of warehouse space on 4.12 acres.
