Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    2253 Belvidere Rd Waukegan, IL 60085

    Sponsored
    For Lease
    Contact for pricing

    Prime Waukegan retail land near Belvidere Mall.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 16-acre commercial land parcel presents a unique investment opportunity in Waukegan, Illinois. Located adjacent to the Belvidere Mall, anchored by a Home Depot, this property offers significant potential for retail, office, or mixed-use development. The site is strategically positioned within both an Enterprise Zone and an Opportunity Zone, providing attractive tax incentives. Development options include big box, mid-box, small shop, and pad sites, with an estimated gross leaseable area of 500,000 square feet. The surrounding area boasts a robust demographic profile, including a population of 106,561 within a 3-mile radius, a median household income of $40,524, and high vehicle traffic counts on nearby Route 120 (Belvidere Road) and Lewis Avenue. Furthermore, Waukegan's projected growth includes an additional one million square feet of retail, hospitality, recreational, educational, and cultural facilities over the next two decades, ensuring long-term value and potential for significant returns. The property's location near major roadways and established retail centers provides excellent visibility and accessibility. This is an unparalleled opportunity to capitalize on a thriving market and contribute to the continued growth of Waukegan. The site is available for lease or build-to-suit construction. Within a 5-mile radius, there are 5,317 businesses employing 71,778 people.

    Property Features for 2253 Belvidere Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease

    Unit(s) available at that property

    Space
    Size
    0 SF

    HighLights

    • Located in an Enterprise Zone.
    • Located in an Opportunity Zone.
    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
    -87.861141456142
    Latitude
    42.35034008711

    Nearby Similar for Lease

    • New
      Contact for pricing

      Waukegan Commercial Space For Lease

      Large commercial space in high-traffic Waukegan location.
      1724 Grand Ave, Waukegan, IL 60085
      View Details
    • Contact for pricing

      Commercial Space in Waukegan, IL

      Retail location with many possibilities on Waukegan's main corridor.
      1012 Washington St, Waukegan, IL 60085
      View Details
    • $25 SF/Yr

      Retail Storefront on Belvidere Road

      Retail space available in Waukegan, close to major commercial corridors.
      2850 Belvidere Rd, Waukegan, IL 60085
      View Details
    • $13 SF/Yr

      Premium Office Space in Waukegan

      Premium office space in downtown Waukegan, across from the courthouse.
      415 Washington St, Waukegan, IL 60085
      View Details
    • $15 SF/Yr

      Retail Space in Waukegan Center

      Retail spaces available in neighborhood shopping center on Grand Ave.
      2603 Grand Ave, Waukegan, IL 60085
      View Details
    • $12 SF/Yr
      320,000 SF

      Belvidere Mall Medical Office Space

      Waukegan, IL medical office suites available
      2103 Belvidere Rd, Waukegan, IL 60085
      View Details
    • Contact for pricing
      218,500 SF

      Waukegan Industrial Space Available

      Divisible 218,500 SF industrial space with immediate occupancy.
      2451 N Delany Rd, Waukegan, IL 60087
      View Details
    • $18 SF/Yr
      22,500 SF

      Waukegan Office Space for Lease

      Prime Waukegan office space, flexible layouts.
      1725 Lewis Ave, Waukegan, IL 60085
      View Details
    • $18 SF/Yr
      10,244 SF

      Prime Auto Dealership Opportunity

      Lake County, Class A, High Traffic
      3375 Grand Ave, Waukegan, IL 60085
      View Details
    • Contact for pricing
      48,372 SF

      Waukegan Industrial Space for Lease

      Industrial space available for lease in Waukegan, Illinois.
      3600-3648 Burwood Dr, Waukegan, IL 60085
      View Details
    • Contact for pricing
      43,270 SF

      Waukegan Warehouse in Amhurst Lakes

      43,270 SF warehouse with 2,500 SF office space.
      1585-1705 Waukegan Rd, Waukegan, IL 60085
      View Details
    • Contact for pricing
      31,903 SF

      Waukegan Warehouse with Ample Parking

      31,903 SF warehouse near I-94 and Route 137.
      3701 Burwood Dr, Waukegan, IL 60085
      View Details

    FAQs

    What type of property is this?
    Land - Prime Waukegan retail land near Belvidere Mall.
    Where is this land located?
    The property is located at 2253 Belvidere Rd Waukegan, IL.
    What are key features of this property?
    This property features: Located in an Enterprise Zone.; Located in an Opportunity Zone.;
    Request Owner's contact information
    2253 Belvidere Rd Waukegan, IL 60085
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2253 Belvidere Rd
    Waukegan, IL 60085
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.