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    OFF-MARKET
    Land

    38101 Sheridan Rd, Waukegan, IL 60087

    23.49 ac lot
    Property ID
    Property summary
    AI-generated overview

    This exceptional 23.49-acre vacant land parcel presents a significant development opportunity in Waukegan, Illinois. Located at 38101 N Sheridan Rd, 60087, this property boasts over 940 feet of frontage on Sheridan Road, offering unparalleled visibility and accessibility. Currently zoned AG, the Village's Comprehensive Plan designates this land for mixed-use development, opening doors to a wide array of possibilities. Envision retail spaces, residential units, or even an indoor or outdoor sports facility – the potential uses are vast. The property's strategic location within a Tax Increment Financing (TIF) District and the Sheridan Road Corridor Overlay District provides additional incentives for development. Furthermore, a contiguous 5-acre vacant parcel owned by a related party is also available for acquisition, expanding the potential scope of any project. This prime location in Lake County offers a unique chance to capitalize on the growing Waukegan market. Serious inquiries are encouraged to explore the full potential of this remarkable property.

    Property profile
    Verified
    Property type Land
    Lot 23.49 ac (1,023,224 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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