Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
    New search
    Property profile & analytics
    OFF-MARKET Estimated value $755,000
    Turn key restaurants

    2101 Grand Ave, Waukegan, IL 60085-3415

    4,892 SF 0.63 ac lot Built 1956
    Entity Owned 2-yr Hold ~ Est. High Equity
    Property ID
    US28-5355462
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1956
    Construction BRICK
    Total area 4,892 SF
    Lot 0.63 ac (27,443 SF)
    APN 08-20-103-036
    UPID US28-5355462
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $840k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $755k
    Owner & transaction history
    Geogreg Properties LLC · 2 yrs held
    Geogreg Properties LLC
    since 2023
    Last sale
    $730,000
    5 recorded transactions
    2023
    $730,000
    2013
    $485,000
    2009
    1997
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $855,000 +4.9%
    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?”
    You own 2101 Grand Ave?
    List it free. Reach 20,000 daily buyers.
    We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
    List this address →
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message