Office Building with Retail
For Sale
Contact for pricing
6021 W Washington St., Gurnee, IL 60031
C-2 PUD-zoned property with flexible office and retail space.
Property Size7,200 SF
Price / SF$179.86
Days on Market58
Property Features for 6021 W Washington St.
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Office, Retail
Zoning
C-2 PUD
Occupancy
74%
Investment Type
Value Add
Net Operating Income
$70,590
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2019
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Building Size
7,200 SF
Listing Agency:
Apex Commercial Realty LLC
Listed By:
Andrew Prunty · License #471.020524
Source:
Crexi
Added: Aug 18
Changed: Oct 7
Last Checked: Oct 12 at 9:03PM
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 Apex Commercial Realty LLC
Investment Insights
Based on property information with market context.
Built in 2019, this 7,200-square-foot commercial building combines office and retail space within a flexible layout. The property is approximately 75% occupied, with one 1,900 SF space available for lease or owner occupancy. Its configuration can accommodate office, retail, medical, and professional service uses supported by the existing commercial improvements.
The property is located at 6021 W. Washington St. in Gurnee, along an established business corridor with surrounding retail amenities and established businesses. Interstate 94, Gurnee Mills, Six Flags Great America, and additional shopping, dining, and entertainment destinations are minutes away. The property is zoned C-2 PUD.
The property is located at 6021 W. Washington St. in Gurnee, along an established business corridor with surrounding retail amenities and established businesses. Interstate 94, Gurnee Mills, Six Flags Great America, and additional shopping, dining, and entertainment destinations are minutes away. The property is zoned C-2 PUD.
Key Highlights
- 7,200‑square‑foot office/retail building constructed in 2019
- Approximately 75% occupied with one 1,900 SF space available
- Flexible layout supporting office, retail, medical, and professional service uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,276
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,985,520
$2.0M
Cap Rate 7%
$1,418,229
$1.4M
Cap Rate 9%
$1,103,067
$1.1M
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$176.3K $24.48/SF
− Vacancy
−$43.9K −$6.10/SF
EGI
$132.4K $18.38/SF
− OpEx
−$33.1K −$4.60/SF
NOI
$99.3K $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%
$1,985,520
Cap Rate 7%
$1,418,229
Cap Rate 9%
$1,103,067
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.65M
NOI $99,276 @ 7.0% cap · market cap 7.67%
Second Best
Retail
$1.05M
$920.4K – $1.23M
NOI $73,634 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,008 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 60031, IL
37,650
Population
14,796
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
95%
High-School Grad
19.0 sq mi
ZIP Area
1,982
Density / Sq Mi
$114,008
Median Household Income
$56,770
Median Earnings
$1,601
Median Rent
$322,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - C-2 PUD-zoned property with flexible office and retail space.
Where is this office building located?
The property is located at 6021 W Washington St. Gurnee, IL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 7,200‑square‑foot office/retail building constructed in 2019; Approximately 75% occupied with one 1,900 SF space available; Flexible layout supporting office, retail, medical, and professional service uses
