416 Washington St Waukegan, IL 60085
- Office Properties & Spaces
Current Use by Public Records
- Office Properties & Spaces
Property Details for 416 Washington St
- Property type
- Office Properties & Spaces
Description
The Waukegan Business Center, a premier downtown Waukegan office building, offers multiple executive office suites ranging from 800 to 3,564 square feet. This 76,797 square foot building, the largest in downtown Waukegan, boasts a modern design and a prime location near the newly expanded $110 million Lake County Courthouse. Its strong tenant base, primarily comprised of legal practices and government agencies, reflects its resilience and success, with occupancy increasing from 70% in 2020 to 86% in 2024. This growth is a testament to the building's desirability and strategic location. Recent significant capital improvements totaling over $800,000 have enhanced the property, including upgrades to the HVAC and control systems, installation of a cutting-edge surveillance and security system, and a revitalized central courtyard. These improvements, along with aesthetic enhancements to common areas and the building's exterior, contribute to a high-quality and attractive office environment. Three spaces are currently available, providing an excellent opportunity for businesses seeking a modern, well-maintained, and strategically located office space in the heart of Waukegan's business district. The building is located in Lake County.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waukegan
- County
- Lake
- State
- Illinois
- Longitude
- -87.8347
- Latitude
- 42.3596
