2504 Washington St, Waukegan, IL 60085-4983
This exceptional investment opportunity presents a six-story, Class B office building situated at 2504 Washington Street in Waukegan, Illinois. Boasting 46,753 square feet on a 0.7-acre lot, this multi-tenant property offers 28,796 square feet of rentable space, divided into 44 individual office suites. Constructed in 1970, the building enjoys a high occupancy rate, strategically positioned near Lake Behavioral Hospital, attracting a strong tenant base of medical professionals and a diverse range of service providers. This prime location ensures consistent demand and strong rental income potential. The building is currently available for purchase individually, or as part of a larger two-building portfolio that includes a separate property located in Lake Bluff, Illinois. Financial details are available upon request. This presents a compelling opportunity for investors seeking a stable, high-yield commercial real estate asset in a thriving market. The property's size, location, and existing tenant base make it an attractive investment for both individual and portfolio buyers. Detailed financial statements and tenant information are available to qualified buyers. Serious inquiries only.
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Small Business Exchange, LLC Business Management Consultant
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Sellers Insurance & Financial Insurance Agency
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Dr. Guillermo Arizona, DDS Dental Office
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Dr. Georgia A. Williams, DDS Dental Office
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Waukegan Dental Wellness Dental Office
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.