2103 Belvidere Rd Waukegan, IL 60085
This exceptional investment opportunity presents a 320,000 square foot, Class B medical office building situated within the Belvidere Mall in Waukegan, Illinois. The single-story building, located at 2103 Belvidere Rd, sits on a 20-acre lot and offers multiple tenancy options with a minimum divisible space of 1,000 square feet and spaces ranging up to 20,000 square feet. The property boasts 1,000 parking spaces, providing ample convenience for patients and staff. Its prime location at the high-traffic intersection of Belvidere Road and Lewis Avenue sees approximately 37,000 vehicles daily, ensuring high visibility and accessibility. The mall benefits from its proximity to a significant population base (approximately 105,000 within a 3-mile radius) with a median household income of $40,148. Further enhancing its appeal, the property is conveniently located near Naval Station Great Lakes and across from the recently renovated Corrine J. Rose Park, a 30-acre park featuring various recreational amenities. The property is zoned for retail use and is in Lake County, IL, zip code 60085. This established mall, originally opened in 1965, offers a unique blend of national and local retailers, creating a thriving commercial environment. The property is currently anchored by Home Depot. This presents a rare chance to acquire a well-positioned medical office space within a dynamic retail environment.
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Corpus Dasalla Corporation DBA Sarge & Sage Clothing & Fashion Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.