2312 Grand Ave, Waukegan, IL 60087

This 5,940 square foot retail shopping center in Waukegan, IL, presents a compelling investment opportunity. Located on Grand Avenue, this single-story, 1971-built property boasts 100% occupancy with five tenants, including a long-term tenant (since 2005). The net lease structure ensures consistent income, further enhanced by rent bumps built into three of the five leases (2-3% annual increases). The property features 14 parking spaces and sits on a 0.34-acre lot. With a strong NOI of $98,725 and an 8.30% cap rate, this asset offers significant return potential. The property benefits from high visibility due to its location on a major thoroughfare with approximately 19,300 vehicles passing daily. Convenient public transportation is also readily available, with seven bus stops within a half-mile radius and a Metra station within a short distance. The surrounding area demonstrates strong demographics, with a substantial population and high average household income within a five-mile radius. The leases have a remaining term of approximately four years, expiring November 30, 2028. The property's APN is 08-17-320-028. This is a rare opportunity to acquire a well-performing, fully occupied retail property in a prime location.