3430 Grand AveGurnee, IL 60031

Property Details for 3430 Grand Ave

Year built

2010

Construction

BRICK

Lot size

2.00 AC

Property size (Sq ft)

9,700 SF

Property type

Retail properties

Property subtype

Retail space

APN

07-13-400-049

APU

713400049

Description

This exceptional 9,997 square foot retail strip shopping center, known as Gurnee Plaza, presents a compelling investment opportunity. Strategically located at 3430 Grand Avenue in Gurnee, Illinois, this property boasts excellent visibility and accessibility. Currently anchored by established tenants T-Mobile and Jimmy John's, the center generates strong in-place income. However, significant value-add potential exists through leasing the currently vacant spaces. The property benefits from its prime location on Grand Avenue, near Green Bay Road, providing easy access to the Tri-State Tollway (I-294), Six Flags Great America, and Gurnee Mills shopping center. This high-traffic area is surrounded by a dense concentration of national retailers, including Walgreens, Starbucks, Jewel-Osco, Dollar Tree, TCF Bank, McDonald's, and Burger King, ensuring consistent customer flow. Gurnee, a thriving village of approximately 31,300 residents, has experienced an 8.5% population increase over the past decade, indicating a robust and growing market. This property offers a unique blend of stable income and significant upside, making it an ideal acquisition for discerning investors seeking a strong return on investment in a prime retail location. The property is offered at $1,450,000. The lot size is 0 acres.

• CAP approach

  CAP return

  Valuation

  6%

  $2,574,632

  6.5%

  $2,376,583

  7%

  $2,206,827

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,481,633

  Geo Method

  $3,183,831

• Alternative Use

  Use

  Valuation

  Residential

  $2,004,737

  Hospitality

  $1,836,328

  Educational

  $1,527,803

  Medical

  $1,580,347

  Retail

  $2,376,583

Location Insight

City

Gurnee

County

Lake

State

Illinois

Latitude

42.3713

Longitude

-87.8862

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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