Freestanding Corner Retail
New
For Sale
$475,000
42 N Lake St, Grayslake, IL 60030
Central Business zoning and an adaptable commercial layout support retail, office, medical, daycare, and service-oriented uses.
Property Size3,108 SF
Price / SF$152.83
Days on Market3
Property Features for 42 N Lake St
General Information
Standard status
Active
Size
3,108 SF
Property subtype
Commercial
Zoning
CB
Site & Location
Corner Location
Yes
Public Transit
Yes
Amenities
outdoor area
ample parking
Building Details
Year Built
1958
Buildings
1
Building Size
3,108 SF
Tenancy
null
Listing Agency:
Sperry Van Ness
Listed By:
Angelo Labriola · License #475130926
(708) 307-7529
Source:
Searchillinoishomesforsale
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 30 at 12:26PM
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 Sperry Van Ness
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Investment Insights
Based on property information with market context.
The freestanding retail building contains 3,108 square feet and was built in 1958. Its commercial layout, outdoor area, and on-site parking provide several practical features. Central Business zoning supports a range of commercial uses, including retail, office, medical, daycare, and service-oriented operations.
At 42 N Lake Street in Grayslake, the property occupies a corner location near downtown shops and dining. Metra service is within walking distance, and the site includes 15+ parking spaces.
At 42 N Lake Street in Grayslake, the property occupies a corner location near downtown shops and dining. Metra service is within walking distance, and the site includes 15+ parking spaces.
Key Highlights
- 3,108‑square‑foot freestanding retail building
- Corner location at 42 N Lake Street in Grayslake
- 15+ on‑site parking spaces and an outdoor area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,786
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,720
$635.7K
Cap Rate 7%
$454,086
$454.1K
Cap Rate 9%
$353,178
$353.2K
Market Conditions
NOI Build-Up for 3,108 SF
Gross rent
$46.6K $15.00/SF
− Vacancy
−$1.2K −$0.39/SF
EGI
$45.4K $14.61/SF
− OpEx
−$13.6K −$4.38/SF
NOI
$31.8K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,720
Cap Rate 7%
$454,086
Cap Rate 9%
$353,178
Alternative Uses
Best Use
Retail
$454.1K
$397.3K – $529.8K
NOI $31,786 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$938.9K – $1.25M
NOI $75,114 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Null-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,727 visits/mo
0.1 miles
PNC Bank
Shops & Services
4,443 visits/mo
0.2 miles
Huntington Bank
Shops & Services
1,818 visits/mo
0.4 miles
MyEyeDr.
Shops & Services
1,164 visits/mo
0.1 miles
Demographics for 60030, IL
36,346
Population
15,006
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
26.8 sq mi
ZIP Area
1,356
Density / Sq Mi
$104,920
Median Household Income
$55,766
Median Earnings
$1,526
Median Rent
$276,800
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Central Business zoning and an adaptable commercial layout support retail, office, medical, daycare, and service-oriented uses.
Where is this retail space located?
The property is located at 42 N Lake St Grayslake, 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: 3,108‑square‑foot freestanding retail building; Corner location at 42 N Lake Street in Grayslake; 15+ on‑site parking spaces and an outdoor area
