34850 Delany Rd Gurnee, IL 60031
- Land
- 22.73 lot acres
Current Use by Public Records
- Land
Property Details for 34850 Delany Rd
- Lot size
- 22.73 lot acres
- Property type
- Land
Description
This exceptional 22.73-acre site in Gurnee, Illinois, presents a shovel-ready opportunity for the development of a 364-unit, four-story wrap-style apartment building. Located in the thriving Waukegan neighborhood, this R6-zoned property offers unparalleled access to major employment centers. Situated approximately 45 minutes from both Downtown Chicago and Downtown Milwaukee, residents will enjoy convenient access to a wealth of amenities. The property's proximity to the American Place project, the Genesee Theatre, and numerous retail centers ensures residents have easy access to employment, recreation, and dining options. The Waukegan Metra station provides direct access to Chicago's vast employment opportunities, while I-94, just 12 minutes away, connects residents to Downtown Milwaukee and the Southeast Wisconsin employment corridor. This prime location benefits from a robust rental market, experiencing a significant 3.7% year-over-year rent growth in Q4 2023, with limited new supply entering the market. This presents a unique opportunity to capitalize on strong market demand and deliver a high-quality residential development in a rapidly growing area. The property's address is 34850 N Delany Rd, Gurnee, IL 60031, within Lake County.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gurnee
- County
- Lake
- State
- Illinois
- Longitude
- -87.9044
- Latitude
- 42.3927
