Renovated Storefront Retail
27 E Grand Ave, Fox Lake, IL 60020
For Sale
$699,900
Bakery business, equipment, inventory, and additional upper-level space are included with this commercial property.
Property Size3,085 SF
Price / SF$226.87
Days on Market50
Property Features for 27 E Grand Ave
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Building Details
Buildings
Listing Agency:
Dream Real Estate, Inc.
Listed By:
Shawn Strach · License #IL 471.000585
(815) 790-0833
Source:
Grandviewrealtyservices
Added: Sep 21
Changed: Nov 6
Last Checked: Oct 7 at 2:59PM
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 Dream Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 3,085-square-foot storefront retail building includes an operating bakery on the ground floor and additional space on the level above. The bakery conveys with major equipment and inventory, while the facility has undergone recent renovations. The business has operated for more than one year and includes an established customer base with documented revenue history.
The property is located at 27 E Grand Ave in Fox Lake, within Lake County’s downtown business district. The upper-level area provides additional income-producing space, creating a commercial property with both an operating retail component and separate space above. The current business structure is managed on an absentee-owner basis.
The property is located at 27 E Grand Ave in Fox Lake, within Lake County’s downtown business district. The upper-level area provides additional income-producing space, creating a commercial property with both an operating retail component and separate space above. The current business structure is managed on an absentee-owner basis.
Key Highlights
- 3,085‑square‑foot storefront retail building
- Operating bakery business included with the real estate
- Major bakery equipment and inventory convey
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,930
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,600
$638.6K
Cap Rate 7%
$456,143
$456.1K
Cap Rate 9%
$354,778
$354.8K
Market Conditions
NOI Build-Up for 3,085 SF
Gross rent
$55.5K $18.00/SF
− Vacancy
−$4.4K −$1.44/SF
EGI
$51.1K $16.56/SF
− OpEx
−$19.2K −$6.21/SF
NOI
$31.9K $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%
$638,600
Cap Rate 7%
$456,143
Cap Rate 9%
$354,778
Alternative Uses
Best Use
Mixed Use
$456.1K
$399.1K – $532.2K
NOI $31,930 @ 7.0% cap · market cap 4.56%
Second Best
Retail
$450.7K
$394.4K – $525.8K
NOI $31,550 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$841.2K
$736.1K – $981.4K
NOI $58,885 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
102k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Thorntons
Shops & Services
22,676 visits/mo
0.1 miles
McDonald's
Dining
22,023 visits/mo
0.2 miles
Culver's
Dining
14,043 visits/mo
0.5 miles
Taco Bell
Dining
10,652 visits/mo
0.3 miles
Dollar General
Shops & Services
4,545 visits/mo
0.3 miles
Demographics for 60020, IL
10,967
Population
5,523
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
2,333
Density / Sq Mi
$71,028
Median Household Income
$44,732
Median Earnings
$1,228
Median Rent
$215,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Storefront properties in Lake County, IL
Properties on Market for Storefront properties in Lake County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - Bakery business, equipment, inventory, and additional upper-level space are included with this commercial property.
Where is this storefront property located?
The property is located at 27 E Grand Ave Fox Lake, IL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,085‑square‑foot storefront retail building; Operating bakery business included with the real estate; Major bakery equipment and inventory convey
