Property profile

2101 Grand Ave Waukegan, IL 60085

OFF-MARKET
Turn key restaurants
Property ID
US28-5355462
4,892 SF 0.63 ac lot Built 1956
Entity Owned 2-yr Hold ~ Est. High Equity
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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

Location

2101 Grand Ave Waukegan, IL 60085-3415
Waukegan metro Census 862603 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$840k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$720k

Owner & transaction history

since 2023
Last sale
$730,000
5 recorded transactions
2023
$730,000
2013
$485,000
2009
Price N/A
1997
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Auto repair, garage $855,000 +4.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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