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    511 Green Bay Rd Waukegan, IL 60085

    Sponsored
    For Lease
    $12 SF/Yr

    High-traffic restaurant space, 3900 sq ft.

    Lot size:
    3,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3,900 square foot retail space, ideally suited for a restaurant, is located at 511 S. Green Bay Road in Waukegan. Built in 1984, the single-tenant property boasts excellent visibility on a major thoroughfare, ensuring high exposure to potential customers. The property benefits from ample parking, a significant advantage in a high-traffic area. With over 23,000 vehicles passing daily, this location offers unparalleled access to a large customer base. The space is currently vacant and ready for immediate occupancy, presenting a unique opportunity for a restaurant operator seeking a prime location with strong visibility and convenient parking. The building's single-tenant configuration provides flexibility and control, while the substantial square footage allows for a spacious and well-designed restaurant layout. This property represents a compelling investment opportunity in a thriving Waukegan commercial district. The high traffic volume and prominent location make it an ideal choice for a business seeking significant customer reach. Serious inquiries are encouraged.

    Property Features for 511 Green Bay Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,900 SF

    Building Details

    Year Built
    1984

    Unit(s) available at that property

    Space
    Size
    3,900 SF
    Rate per SF
    $12

    HighLights

    • 3,900 square foot single‑tenant retail space.
    • Restaurant space available.
    • Located on a major Waukegan thoroughfare with excellent visibility.
    • Ample parking available.
    • High traffic counts exceeding 23,000 vehicles per day (VPD).
    • Built in 1984.
    Property Profile Location Intelligence

    Current Use by Public Records

    El Mercadito Supermarket ... Restaurant El Mercadito Waukegan Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.8734066
    Latitude
    42.3518393

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    FAQs

    What type of property is this?
    Retail property - High-traffic restaurant space, 3900 sq ft.
    Where is this retail property located?
    The property is located at 511 Green Bay Rd Waukegan, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 3,900 square foot single-tenant retail space.; Restaurant space available.; Located on a major Waukegan thoroughfare with excellent visibility.
    Request Owner's contact information
    511 Green Bay Rd Waukegan, IL 60085
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    Realmo Value Estimation

    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.

    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.

    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
    511 Green Bay Rd Waukegan, IL 60085
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