226 Sheridan RdWaukegan, IL 60085

Property Details for 226 Sheridan Rd

Year built

1985

Construction

BRICK

Lot size

0.58 AC

Property size (Sq ft)

3,680 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

08-21-221-005

APU

821221005

Description

This exceptional turnkey restaurant opportunity is located at 226 N Sheridan Road, Waukegan, IL, a prime corner location at the intersection of Grand Avenue and Sheridan Road. The 3,680 square foot building boasts a highly desirable location, situated next to a McDonald's and just one block from the Genesee Theatre, ensuring high visibility and foot traffic. Previously a successful pizza restaurant, the property retains significant existing restaurant equipment, including pizza ovens, overhead cooktops, freezers, and various other kitchen accessories. The interior features a large bar area, numerous booth seats for comfortable dining, and ample space for customer seating. An added benefit is the outdoor patio seating area, perfect for expanding capacity during warmer months. The property also includes a significant advantage with 36 on-site parking spaces, a rare find in this location. The property is being sold "as-is," presenting a unique chance for an experienced restaurateur to acquire a fully equipped establishment in a high-traffic area. The building's existing infrastructure and equipment offer immediate operational potential, minimizing start-up costs and allowing for a swift transition into business. This is an exceptional opportunity to establish or expand a restaurant business in a vibrant and growing community. The property's location and existing features make it an ideal investment for a discerning buyer seeking a ready-to-operate restaurant. The sale price is $495,000.

• CAP approach

  CAP return

  Valuation

  6%

  $976,768

  6.5%

  $901,632

  7%

  $837,229

• Comparable approach

  Method

  Valuation

  Relative Method

  $941,485

  Geo Method

  $1,207,886

• Alternative Use

  Use

  Valuation

  Residential

  $760,560

  Hospitality

  $696,669

  Educational

  $579,620

  Medical

  $599,554

  Retail

  $901,632

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.3634

Longitude

-87.8304

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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