Mixed-Use Property with
For Sale
$475,000
3042 Sunset Avenue, Waukegan, IL 60087
Multiple private offices and a one-bedroom apartment are complemented by substantial storage space.
Property Size4,000 SF
Price / SF$118.75
Days on Market107
Property Features for 3042 Sunset Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$6,140
Building Details
Building Size
4,000 SF
Listing Agency:
Century 21 Circle
(847) 336-7333
Listed By:
Crystal Massey
(847) 366-8204
Source:
Payesregroup
Added: Jul 17
Changed: Oct 30
Last Checked: Oct 30 at 2:48PM
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 Century 21 Circle
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Investment Insights
Based on property information with market context.
This mixed-use property combines multiple offices with a one-bedroom apartment. A large garage accommodates cars, with additional storage space above. The building contains 4,000 square feet and is located at 3042 Sunset Avenue in Waukegan, Illinois.
Key Highlights
- 4,000‑square‑foot mixed‑use property
- Multiple offices and a one‑bedroom apartment
- Large garage with capacity for cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,400
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,000
$828.0K
Cap Rate 7%
$591,429
$591.4K
Cap Rate 9%
$460,000
$460.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$72.0K $18.00/SF
− Vacancy
−$5.8K −$1.44/SF
EGI
$66.2K $16.56/SF
− OpEx
−$24.8K −$6.21/SF
NOI
$41.4K $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%
$828,000
Cap Rate 7%
$591,429
Cap Rate 9%
$460,000
Alternative Uses
Best Use
Office B
$787.9K
$689.4K – $919.2K
NOI $55,153 @ 7.0% cap · market cap 11.61%
Second Best
Mixed Use
$591.4K
$517.5K – $690.0K
NOI $41,400 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,671 @ 7.0% cap · market cap 20.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple private offices and a one-bedroom apartment are complemented by substantial storage space.
Where is this mixed-use property located?
The property is located at 3042 Sunset Avenue Waukegan, IL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 4,000‑square‑foot mixed‑use property; Multiple offices and a one‑bedroom apartment; Large garage with capacity for cars
