1175 Tri State PkwyGurnee, IL 60031

Property Details for 1175 Tri State Pkwy

Year built

1999

Construction

BRICK

Lot size

3.31 AC

Property size (Sq ft)

41,364 SF

Property type

Office properties

Property subtype

Office buildings

APN

07-16-401-066

APU

716401066

Description

This exceptional 39,000 square foot office building, located at 1175 Tri-State Pkwy in Gurnee, Illinois (zip code 60031), presents a unique investment opportunity. The property boasts a highly desirable location, offering easy access via the intersection of I-294 and Grand Avenue, and is situated directly across from the Gurnee Mills Shopping Center. This prime location ensures excellent visibility and convenient access for clients, customers, and employees. The building features a modern, single-story design, promoting easy navigation and accessibility. The net rentable area totals 29,321 square feet, with an asking price of $2,199,075, resulting in a price per square foot of $56.39. The property is well-suited for a variety of office uses, including creative office spaces, medical offices, and traditional office setups. Custom interior build-outs are available to accommodate specific tenant needs. Ample parking is provided, ensuring convenient access for all occupants and visitors. A virtual tour is available for a comprehensive view of the property. This is an ideal location for businesses seeking a prominent presence in a dynamic growth area, with nearby amenities including national hotels. The property is categorized as an office building with creative office, medical office, and traditional office subtypes.

• CAP approach

  CAP return

  Valuation

  6%

  $7,468,761

  6.5%

  $6,894,241

  7%

  $6,401,796

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,199,405

  Geo Method

  $5,387,661

• Alternative Use

  Use

  Valuation

  Residential

  $8,548,859

  Hospitality

  $7,830,709

  Educational

  $6,515,058

  Medical

  $6,739,120

  Retail

  $10,134,534

Location Insight

City

Gurnee

County

Lake

State

Illinois

Latitude

42.3771

Longitude

-87.947

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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