Commercial Land with Office
For Sale
Contact for pricing
36911 N Green Bay Rd., Beach Park, IL 60099
Two parcels include an existing office structure and a three-car garage.
Property Size1,812 SF
Price / SF$248.34
Days on Market61
Property Features for 36911 N Green Bay Rd.
General Information
Standard status
Active
Size
1,812 SF
Class
C
Total Parking Spaces
3
Property subtype
Office, Land
Zoning
Business/Commercial (B-1 and M)
Investment Type
Redevelopment
Listed By:
Jack Steineke · License #475.217280
Source:
Crexi
Added: Aug 19
Changed: Oct 10
Last Checked: Oct 16 at 9:27AM
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 Jack Steineke
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Investment Insights
Based on property information with market context.
This commercial land offering combines two parcels totaling 1.67 acres and includes an existing 1,812-square-foot office building. A three-car garage is also located on the property, providing additional enclosed space within the existing improvements.
The site is positioned on Green Bay Road in Beach Park, Illinois, and operates with well and septic utilities. Zoning is Business/Commercial (B-1 and M), with stated permitted uses including retail, restaurants, offices, banks, grocery stores, beauty and barber shops, gyms, and professional services. The existing office component and broad commercial-use framework support multiple property configurations within the current improvements and land area.
The site is positioned on Green Bay Road in Beach Park, Illinois, and operates with well and septic utilities. Zoning is Business/Commercial (B-1 and M), with stated permitted uses including retail, restaurants, offices, banks, grocery stores, beauty and barber shops, gyms, and professional services. The existing office component and broad commercial-use framework support multiple property configurations within the current improvements and land area.
Key Highlights
- Two parcels totaling 1.67 acres
- Existing 1,812 SF office building
- Three‑car garage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,985
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,700
$499.7K
Cap Rate 7%
$356,929
$356.9K
Cap Rate 9%
$277,611
$277.6K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$44.4K $24.48/SF
− Vacancy
−$11.0K −$6.10/SF
EGI
$33.3K $18.38/SF
− OpEx
−$8.3K −$4.60/SF
NOI
$25.0K $13.79/SF
Area
Lake County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,700
Cap Rate 7%
$356,929
Cap Rate 9%
$277,611
Alternative Uses
Best Use
Office B
$356.9K
$312.3K – $416.4K
NOI $24,985 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.6K
$547.4K – $729.9K
NOI $43,792 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 60099, IL
31,579
Population
12,085
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
86%
High-School Grad
22.6 sq mi
ZIP Area
1,397
Density / Sq Mi
$65,647
Median Household Income
$36,541
Median Earnings
$1,131
Median Rent
$190,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial land - Two parcels include an existing office structure and a three-car garage.
Where is this commercial land located?
The property is located at 36911 N Green Bay Rd. Beach Park, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two parcels totaling 1.67 acres; Existing 1,812 SF office building; Three‑car garage included
