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    2253 Belvidere Rd Waukegan, IL 60085

    Sponsored
    For Sale
    $4,704,480

    Prime Waukegan land, ideal for diverse uses. High traffic area.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 16-acre property, located at 2253-2309 Belvidere Road in Waukegan, Illinois (zip code 60085), presents a unique investment opportunity. Zoned for commercial use, this expansive lot offers significant potential for a variety of developments. Its strategic location adjacent to Belvidere Mall and Home Depot, and across from the Belvidere Recreation Center, ensures high visibility and accessibility. The property boasts convenient access via multiple lighted intersections and access drives along Route 120 and Lewis Avenue, benefiting from substantial traffic volume: 24,300 vehicles per day on Route 120 and 13,500 vehicles per day on Lewis Avenue. The surrounding area is densely populated, with a total population of 107,602 within a 3-mile radius and 5,317 businesses employing 71,778 people within a 5-mile radius. This makes it an attractive location for warehouse, residential, retail, or recreational projects. The property's APN is 08-29-100-023. The asking price is $4,704,480. This is a for sale by owner listing.

    Property Features for 2253 Belvidere Rd

    General Information

    Property type
    Land
    Lot Size
    696,960 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    China V Star ... Chinese 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
    -87.860488045391
    Latitude
    42.350490447588

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    FAQs

    What type of property is this?
    Land - Prime Waukegan land, ideal for diverse uses. High traffic area.
    Where is this land located?
    The property is located at 2253 Belvidere Rd Waukegan, IL.
    What is the asking price?
    The asking price for this property is $4,704,480.
    Request Owner's contact information
    2253 Belvidere Rd Waukegan, IL 60085
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    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
    2253 Belvidere Rd Waukegan, IL 60085
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