New search
Property profile & analytics
FOR SALE
Office buildings
1400 Sunset Ave, Waukegan, IL 60087
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US28-1355765
For Sale
1 / 43
$1,350,000
1400 Sunset Ave, Waukegan, IL 60087
View Listing →
Property summary
AI-generated overview
This exceptional 2,000-square-foot executive office suite is ideally situated at 1400 Sunset Ave in Waukegan, Illinois, zip code 60087. Located in Lake County, this single-tenant property offers unparalleled convenience with easy access to both eastern and western destinations. Built in 1969, the building is a single-story structure with a B-2 zoning classification. The entire 2,000 square feet is currently vacant and ready for immediate occupancy. The space is highly adaptable and can be configured to suit various business needs. While the total space is 2,000 square feet, it's designed to allow for flexible configurations, potentially accommodating a division into two 1,000-square-foot units. The property features 0-100 Amps of power. This presents a fantastic opportunity for businesses seeking a well-located, adaptable, and readily available office space in a thriving area. The address is 1400 Sunset Ave, Waukegan, IL 60087. Don't miss this chance to establish your business in this prime location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
BRICK
Total area
10,839 SF
Lot
0.57 ac (24,732 SF)
APN
08-08-404-001
UPID
US28-1355765
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kaiser North Shore Insurance Insurance Agency
-
Tax Solutions Financial Advisor
-
Wheel Power Transportation Inc Trucking Company
-
Paul W Kaiser & Associates Insurance Agency
-
Fast Tax Solutions Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$575k
Owner & transaction history
R M E Realty LLC · 4 yrs held
R M E Realty LLC
since 2022
Last sale
$550,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$840,000
+24.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waukegan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukegan submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$580,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
INDUSTRIAL (GENERAL)
$840,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $550k (Jun 28 2022)
Last sale anchor
$550k
Jun 28 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$53 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$14,876
Tax year 2023
Assessed value
$159,215
Assessed 2023
Previous assessed
$152,163
+4.6% YoY
Effective rate
9.34%
On assessed value
Assessed land
$42,926
Assessed improvement
$116,289
Land market value
$128,791
Improvement market value
$348,902
Total market value
$477,693
Applied tax rate
9,012.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1969
Construction
BRICK
Heating
NONE
Total area
10,839 SF
Lot
0.57 ac (24,732 SF)
APN
08-08-404-001
UPID
US28-1355765
Jurisdiction
LAKE
Metro division
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$670,000
INDUSTRIAL (GENERAL)
Est. value
$840,000
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
BRICK
Heating
NONE
Lot
0.57 ac
Current owner
From public records · entity-resolved
R M E Realty LLC
Entity
Mailing address
1400 SUNSET AVE, WAUKEGAN, IL 60087-4806
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2022
$550,000
R M E Realty LLC
1400 Sunset LLC
Warranty Deed
$440,000 · Home State Bank NA
Mar 21, 2018
—
1400 Sunset LLC
Tomek Patricia Trust
Grant Deed
—
May 17, 2016
—
Tomek,patricia Trust
Atg Trust Co
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
