2101 Grand AveWaukegan, IL 60085

Property Details for 2101 Grand Ave

Year built

1956

Construction

BRICK

Lot size

0.63 AC

Property size (Sq ft)

4,892 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

08-20-103-036

APU

820103036

Description

This exceptional restaurant opportunity is located at 2101 Grand Ave, Waukegan, IL 60085. Boasting a prime corner location in the heart of Waukegan, this 4,892 square foot single-tenant property offers unparalleled visibility and exposure. Its strategic placement provides easy access and benefits from strong demographics, high traffic counts, and significant foot traffic. Just five minutes from the scenic lakefront, this location is ideal for attracting a diverse clientele. The property includes ample parking with over 40 sealed and striped spaces, supplemented by convenient street parking. The building has undergone recent renovations, including a new roof, HVAC system, plumbing, electrical work, and most of the furniture, fixtures, and equipment (FF&E). While some finishing touches are still needed, this property presents a turnkey opportunity for a discerning restaurateur. The property is situated in Lake County and offers a substantial space for a thriving culinary establishment. This is a rare chance to acquire a well-positioned restaurant with significant upside potential in a vibrant and growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,298,464

  6.5%

  $1,198,582

  7%

  $1,112,969

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,251,562

  Geo Method

  $1,605,701

• Alternative Use

  Use

  Valuation

  Residential

  $1,011,049

  Hospitality

  $926,115

  Educational

  $770,517

  Medical

  $797,016

  Retail

  $1,198,582

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.3699

Longitude

-87.8585

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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