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    Property profile & analytics

    919 Green Bay Rd Waukegan, IL 60085

    • Turn key restaurants
    • 3,144 SF
    • 1.21 lot acres
    For Sale
    View listing
    $2,200,000
    Value Estimation
    Last Sale
    Jan 28, 2021
    $925,000
    Location Intelligence
    Property ID
    US28-0683387
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 919 Green Bay Rd

    Year built
    1994
    Construction
    BRICK
    Lot size
    1.21 lot acres
    Property size
    3,144 SF
    Property type
    Turn key restaurants
    APN
    08-18-320-020
    APU
    818320020

    Description

    This exceptional freestanding retail building presents a compelling investment or owner-user opportunity in Waukegan, IL. Located at 919 N Green Bay Rd, this 3,129 square-foot property sits on a 1.21-acre lot and boasts a prime location near the intersection of Grand Avenue (Route 132), offering high visibility and accessibility. Built in 1994, the single-story building is currently vacant and zoned B3, providing flexibility for various uses, including QSR, restaurant, or storefront retail. The property features three points of ingress/egress, ample parking for up to 50 vehicles, and benefits from its proximity to major retailers such as Jewel-Osco, Walgreens, and Burger King, ensuring high traffic volume. Situated along a heavily trafficked corridor with 29,800 daily vehicles, and conveniently located near a PACE bus stop, Route 41, and I-94, this property offers unparalleled exposure and convenience. The asking price is $2,200,000, translating to $703.10 per square foot. This rare freestanding building presents a unique opportunity for development or immediate occupancy in a thriving business corridor. The property's attributes make it ideal for a variety of businesses seeking high visibility and convenient access.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,055,000

    • CAP approach

      CAP return
      Estimation
      6%
      $825,000
      6.5%
      $840,000
      7%
      $815,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $840,000
      Geo Method
      $1,035,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $900,000
      Retail
      $970,000
      Mixed-Use
      $1,110,000
      Hospitality
      $825,000
      Educational
      $1,050,000
      Residential Income
      $845,000
      Energy
      $950,000
      Income-Based Land
      $1,005,000
      Food Service
      $950,000

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.8818
    Latitude
    42.3727
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $31,005
    $203,239
    $131,108
    $334,347
    -
    $609,778
    $393,363
    $1,003,141

    Comparable in this City

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      3210 Belvidere Rd

      RESTAURANT • 2,688 SF
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    • Value Estimation
      $195,000
      1,318 SF

      318 Belvidere Rd

      RESTAURANT • 1,318 SF
      318 Belvidere Rd, Waukegan, IL 60085-6508
      View Details

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    Request Owner's contact information
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    919 Green Bay Rd
    Waukegan, IL 60085
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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