2253 Belvidere Rd Waukegan, IL 60085

Property Details for 2253 Belvidere Rd

Property type

Land

Description

This exceptional 16-acre commercial land parcel presents a unique investment opportunity in Waukegan, Illinois. Located adjacent to the Belvidere Mall, anchored by a Home Depot, this property offers significant potential for retail, office, or mixed-use development. The site is strategically positioned within both an Enterprise Zone and an Opportunity Zone, providing attractive tax incentives. Development options include big box, mid-box, small shop, and pad sites, with an estimated gross leaseable area of 500,000 square feet. The surrounding area boasts a robust demographic profile, including a population of 106,561 within a 3-mile radius, a median household income of $40,524, and high vehicle traffic counts on nearby Route 120 (Belvidere Road) and Lewis Avenue. Furthermore, Waukegan's projected growth includes an additional one million square feet of retail, hospitality, recreational, educational, and cultural facilities over the next two decades, ensuring long-term value and potential for significant returns. The property's location near major roadways and established retail centers provides excellent visibility and accessibility. This is an unparalleled opportunity to capitalize on a thriving market and contribute to the continued growth of Waukegan. The site is available for lease or build-to-suit construction. Within a 5-mile radius, there are 5,317 businesses employing 71,778 people.