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    Property profile & analytics
    OFF-MARKET Estimated value $1,675,000
    Office buildings

    2504 Washington St, Waukegan, IL 60085-4983

    46,753 SF 0.7 ac lot Built 1965
    Entity Owned Absentee Owner ~ Est. High Equity
    Property ID
    US28-2310763
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1965
    Construction FRAME
    Total area 46,753 SF
    Lot 0.7 ac (30,492 SF)
    APN 08-20-300-003
    UPID US28-2310763
    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
    • Small Business Exchange, LLC Business Management Consultant
    • Sellers Insurance & Financial Insurance Agency
    • Dr. Guillermo Arizona, DDS Dental Office
    • Dr. Georgia A. Williams, DDS Dental Office
    • Waukegan Dental Wellness Dental Office
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.69M
    Blend (final) Blend
    $1.68M
    Owner & transaction history
    Par National Properties LLC
    Par National Properties LLC
    since 2025
    Last sale
    $1.6M
    4 recorded transactions
    2025
    $1.6M
    2010
    2007
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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