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    402 Lakehurst Rd Waukegan, IL 60085

    Sponsored
    For Lease
    Contact for pricing

    Prime 1-Acre Outparcel Near Casino

    Lot size:
    43,560 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1-acre commercial land parcel presents a unique investment opportunity in Waukegan's thriving Fountain Square submarket. Situated directly in front of a planned Residence Inn by Marriott, this property enjoys unparalleled visibility and accessibility. Its strategic location across the street from The Temporary (a 70,000 square foot casino) and the future site of the American Place Casino (opening in 2025) guarantees high traffic and significant future growth potential. The property is zoned B-2 Community Shopping, allowing for a wide range of development possibilities to capitalize on the area's robust retail environment. Surrounded by established national retailers, branded hotels, and a substantial office population, this location offers immediate access to a large consumer base and a strong workforce. This is an ideal site for businesses seeking high visibility and proximity to major entertainment and hospitality venues. The single-tenant zoning provides flexibility for development, while the established infrastructure and surrounding amenities ensure a seamless transition for any new business. Don't miss this chance to secure a prime piece of real estate in a rapidly developing area with exceptional long-term prospects. Invest in Waukegan's future today.

    Property Features for 402 Lakehurst Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,560 SF

    Unit(s) available at that property

    Space
    Size
    43,560 SF

    HighLights

    • 1‑acre commercial land parcel in Waukegan's Fountain Square submarket.
    • Located directly across from a temporary casino and the future site of a major casino (2025).
    • Situated in front of a future Residence Inn by Marriott.
    • Surrounded by national retailers, hotels, and a significant office population.
    • Zoned B‑2 Community Shopping.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hampton Inn Waukegan Breakfast Restaurant genese theatre Theater Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.902656037917
    Latitude
    42.344597453217

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    FAQs

    What type of property is this?
    Land - Prime 1-Acre Outparcel Near Casino
    Where is this land located?
    The property is located at 402 Lakehurst Rd Waukegan, IL.
    What are key features of this property?
    This property features: 1-acre commercial land parcel in Waukegan's Fountain Square submarket.; Located directly across from a temporary casino and the future site of a major casino (2025).; Situated in front of a future Residence Inn by Marriott.
    Request Owner's contact information
    402 Lakehurst 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
    402 Lakehurst Rd Waukegan, IL 60085
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