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    2536 Illinois 83 Round Lake Beach, IL 60073

    For Lease
    $10 SF/Yr ($16,000 /Mo)

    Prime Retail Space, 5 Units Available

    Lot size:
    19,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This single-story, 19,200 square foot retail center in Round Lake Beach, IL, offers 5 available spaces ranging from 1,200 to 8,400 contiguous square feet. Located at 2536 N Illinois 83, near W. Monaville Road, this property boasts high visibility due to its location on heavily traveled Route 83, just south of Walmart, and features a large monument sign. The center includes 103 parking spaces, providing ample parking for tenants and customers. Built in 2004, the property is zoned C3 and offers a variety of possibilities, including medical, restaurant, and service businesses. Two available units are second-generation medical spaces, and one is a 2,400 square foot second-generation dental/orthodontic space. Other spaces can be built to suit tenant needs, with the owner offering assistance with build-out expenses. Property taxes are $3.55 per square foot. The building has 200 amp/3-phase power, but no elevators. Currently, Dunkin Donuts, Pink Nail Salon, Joy Foot Spa, and La Petite Academy are tenants. No base rent is due until January 1, 2026. The 2.86-acre site offers significant potential for businesses seeking a high-traffic location in a growing area with nearby medical facilities, including an Advocate Outpatient Center and Northwestern Medicine Grayslake Outpatient Center.

    Property Features for 2536 Illinois 83

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    19,200 SF
    Total Rate
    16000

    Building Details

    Year Built
    2004
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 7
    Size
    2,400 SF
    Rate per SF
    $10
    Space
    Unit 2560
    Size
    1,200 SF
    Rate per SF
    $10
    Space
    Unit 2572
    Size
    3,600 SF
    Rate per SF
    $10
    Space
    Unit 2544
    Size
    2,400 SF
    Rate per SF
    $10
    Space
    Unit 2552
    Size
    2,400 SF
    Rate per SF
    $10
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical space

    Map

    City
    Round Lake Beach
    County
    Lake
    State
    Illinois
    Longitude
    -88.0654395
    Latitude
    42.39414957

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    FAQs

    What type of property is this?
    Restaurant - Prime Retail Space, 5 Units Available
    Where is this restaurant located?
    The property is located at 2536 Illinois 83 Round Lake Beach, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
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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
    2536 Illinois 83 Round Lake Beach, IL 60073
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