6475 Washington StGurnee, IL 60031

This exceptional 15,088-square-foot office building in Gurnee, Illinois presents a compelling investment opportunity. The single-story, Class B property, built in 2000, features six units with 86% occupancy and a strong tenant base under primarily triple-net (NNN) leases, ensuring minimal landlord responsibilities. The stabilized investment boasts a 6.58% cap rate and a current NOI of $188,016, projected to increase to $207,172. Recent capital improvements include a new roof (2020), updated signage (2021), a new common area HVAC unit, and a freshly repaved parking lot (2023) with 69 spaces. Situated on a 3.75-acre lot with C-2 zoning, the property includes 20,137 square feet of vacant land, offering significant potential for future expansion or alternative development. The strategic location at 6475 Washington St, near I-94, Gurnee Mills Mall, and Six Flags Great America, ensures high tenant demand and strong rental income growth, further enhanced by annual 3% rent bumps. The asking price is $3,150,000, or $206.56 per square foot, with a land value of $19.28 per square foot. This fee-simple ownership opportunity is ideal for a 1031 exchange.