Mixed-Use Building with
2614 Grand Avenue Waukegan, IL 60085
2614 Grand Avenue, Waukegan, IL, 60085
$599,000
For Sale
$599,000
Mixed-use building on a half-acre lot with a ground-floor commercial unit and two residential units above.
Property Size4,000 SF
Lot Size0.50 Acres
Price / SF$149.75
Days on Market35
Property Features for 2614 Grand Avenue
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.50 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1955
Listing agency
Callahan Blandings & Schaper
(847) 249-0660
Listed by
John Pantelopoulos · License #475097681
(847) 249-0660
Source
Birdrealtysells
Added: Jun 17 Updated: Jul 21 at 5:28AM Checked: Jul 21 at 5:28AM
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 Callahan Blandings & Schaper
Investment Insights
Based on property information with market context.
This mixed-use property features a 4,000+ square foot structure on a half-acre lot. The building is divided into three units, with one commercial space on the ground level and two residential units on the second level. There are also two two-car garages included with the property.
The property is located on Grand Ave., where the public remarks indicate a traffic count of more than 26,000 VPD. The tax amount reflects totals across five PINs. The property is being sold “as is.”
The property is located on Grand Ave., where the public remarks indicate a traffic count of more than 26,000 VPD. The tax amount reflects totals across five PINs. The property is being sold “as is.”
Key Highlights
- 3‑unit mixed‑use building on a 0.5‑acre lot on Grand Ave
- 4000+ sq. ft. structure built in 1955
- Ground‑floor commercial space with two residential units on the 2nd level
Local Financial Insights For Multifamily LT 5
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 | $81.6k | $20.40 |
| − Vacancy | −$5.0k | −$1.26 |
| EGI | $76.6k | $19.14 |
| − OpEx | −$23.0k | −$5.74 |
| NOI | $53.6k | $13.40 |
4,000 SF · lease $20.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$765.7K
$670.0K – $893.3K
NOI $53,596 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$705.3K
$617.1K – $822.8K
NOI $49,368 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building on a half-acre lot with a ground-floor commercial unit and two residential units above.
Where is this mixed-use property located?
The property is located at 2614 Grand Avenue Waukegan, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3‑unit mixed‑use building on a 0.5‑acre lot on Grand Ave; 4000+ sq. ft. structure built in 1955; Ground‑floor commercial space with two residential units on the 2nd level
