Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5384 Grand Ave Gurnee, IL 60031

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial property with high visibility near Six Flags Great America.

    Type:Office
    Property size:
    4,588 SF
    Added:
    Nov 21, 2025
    Days on Market:
    132
    Last Refresh:
    Apr 1 at 8:54 pm

    Property Features for 5384 Grand Ave

    General Information

    Standard status
    Active
    Size
    4,588 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Steve Madura

    Listing agent Steve Madura

    Listing office

    Listing date Nov 21, 2025

    Source Hilcorealestatesales

    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 Steve Madura

    Overview

    Visible Commercial Property Near Six Flags

    This commercial property benefits from exceptional visibility along Grand Avenue, which sees over 30,000 vehicles per day. It is located directly across from Six Flags Great America, which attracts approximately 3 million visitors annually. The property offers convenient access to I-94 and Route 41. The surrounding area is a year-round tourist destination, featuring water parks, amusement parks, and shopping centers. Nearby businesses include Six Flags Great America, Great Wolf Lodge, Gurnee Mills Mall, Burger King, Culver's, Dunkin' Donuts, Jimmy John's, McDonald's, and Starbucks. The property encompasses 4,588 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Children's Dentistry of Lake ... Dental Office Dr. Christine Lee Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • OfficeMax Tech Services — 6523 Grand Ave, Gurnee, IL 60031
    • Phone fix — 6170 IL-132, Gurnee, IL 60031
    • Cell City — 6170 W Grand Ave, Gurnee, IL 60031
    • We Fix It Phone Repair — 6300 W Grand Ave space b, Gurnee, IL 60031
    • Walmart Home Theater Installation — 6590 Grand Ave, Gurnee, IL 60031

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.9361
    Latitude
    42.3779

    Nearby Similar for Sale

    • $279,000

      Gurnee Medical Office For Sale

      Professional medical office center near major roads and interstates.
      731 S Il Route 21 unit: 145, Gurnee, IL 60031
      View Details
    • $3,150,000

      Gurnee Commercial Property For Sale

      Commercial property available for sale in Gurnee, Illinois.
      6475 Washington Street, Gurnee, IL 60031
      View Details
    • $1,890,000

      Gurnee Commercial Space For Sale

      Prime commercial space in Delaware Commons with high visibility.
      34491 N Old Walnut Circle, Gurnee, IL 60031
      View Details
    • $299,900

      Updated Office Space in Gurnee

      Updated office space with handicap access and storage basement.
      4017 Old Grand Avenue, Gurnee, IL 60031
      View Details
    • $1,025,000

      Commercial Property in Unincorporated Gurnee

      Versatile commercial property in Gurnee with flexible zoning.
      34498 N Old Walnut Circle, Gurnee, IL 60031
      View Details
    • $967,000
      5,547 SF

      Gurnee Industrial Flex Space Available

      5,547 SF flex space in Gurnee, Illinois for sale.
      1680 N Delany Rd, Gurnee, IL
      View Details
    • $3,150,000
      15,250 SF

      Hunt Club Professional Office Building

      Located near Gurnee Mills and Six Flags with development potential.
      6475 Washington St, Gurnee, IL 60031
      View Details
    • Contact for pricing
      142,073 SF

      Freestanding Retail Building in Gurnee

      Retail building in established commercial corridor near major attractions.
      7735 Grand Ave, Gurnee, IL 60031
      View Details
    • $3,050,000
      5,331 SF

      Gurnee, IL Chili's Restaurant

      Single-tenant Chili's in Gurnee, Illinois near Gurnee Mills.
      6030 Grand Ave, Gurnee, IL 60031
      View Details
    • Contact for pricing

      Gurnee Town Center Retail Space

      Dominant power center in Gurnee's regional trade area.
      7105 Grand Avenue, Gurnee, IL 60031
      View Details
    • $555,680
      6,976 SF

      Gurnee Industrial Property For Sale

      Industrial property in Gurnee, Illinois, totaling 6,976 square feet.
      1379-1391 St. Paul Ave., Gurnee, IL 60031
      View Details
    • $8,000,000
      42,245 SF

      Gurnee Industrial Property on 15 Acres

      42,245 SF industrial property on 15 acres for sale.
      3535 Washington St, Gurnee, IL 60031
      View Details

    FAQs

    What type of property is this?
    Office property - Commercial property with high visibility near Six Flags Great America.
    Where is this office property located?
    The property is located at 5384 Grand Ave Gurnee, IL.
    What are key features of this property?
    This property features: Exceptional visibility along Grand Ave. with high traffic (30,000+ VPD); Immediately across from Six Flags Great America (3 million visitors/yr.); Year‑round tourist destination due to water parks, amusement parks, and shopping
    (847) 504-2478
    We can help!
    Listing Contact
    Steve Madura
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!