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    3500 Grand Ave Gurnee, IL 60031

    Sponsored
    For Sale
    $1,749,000

    19,000 SF Industrial/Retail Opportunity

    Property size:
    19,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 19,000 square foot mixed-use property, located at 3500 Grand Ave in Gurnee, Illinois (zip code 60031), presents a compelling investment opportunity. Built in 1988, the building boasts a versatile layout ideal for a variety of uses, previously occupied by a flooring company. The property features one loading dock and one dock-high door, facilitating efficient loading and unloading. Ceiling heights range from 14 to 15 feet, providing ample vertical space. The substantial square footage offers significant expansion room or potential for outdoor storage. Recent improvements include a newer HVAC system and upgrades to the parking lot. This location in Lake County offers excellent potential for retail and warehousing businesses, presenting endless possibilities for the savvy investor. The property's adaptability, coupled with the potential for economic incentives, makes this a truly unique and attractive investment prospect. The building's substantial size and versatile design make it suitable for a wide range of commercial ventures. This is a rare opportunity to acquire a well-located, adaptable property with significant upside potential in a thriving Illinois market.

    Property Features for 3500 Grand Ave

    General Information

    Property type
    Restaurants
    Square Feet
    19,000 SF

    Building Details

    Year Built
    1988

    HighLights

    • $1,749,000 asking price for a 19,000 square foot mixed‑use property in Gurnee, IL.
    • 19,000 square feet of net rentable space.
    • Built in 1988 with 14‑15 foot ceilings, one loading dock, and one dock‑high door.
    • Features include newer HVAC, parking lot improvements, and potential for expansion or outdoor storage.
    • Suitable for retail and warehousing uses; previously occupied by a flooring company.
    • Economic incentives available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Gurnee
    County
    Lake
    State
    Illinois
    Longitude
    -87.887467169966
    Latitude
    42.370582560586

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    FAQs

    What type of property is this?
    Restaurant - 19,000 SF Industrial/Retail Opportunity
    Where is this restaurant located?
    The property is located at 3500 Grand Ave Gurnee, IL.
    What is the asking price?
    The asking price for this property is $1,749,000.
    What are key features of this property?
    This property features: $1,749,000 asking price for a 19,000 square foot mixed-use property in Gurnee, IL.; 19,000 square feet of net rentable space.; Built in 1988 with 14-15 foot ceilings, one loading dock, and one dock-high door.
    Request Owner's contact information
    3500 Grand Ave Gurnee, IL 60031
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    Gurnee, IL 60031
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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
    3500 Grand Ave Gurnee, IL 60031
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