Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3000 Washington St Waukegan, IL 60085
    Back to Search
    Property profile & analytics

    3000 Washington St Waukegan, IL 60085

    View on Map
    • Gas stations
    • 1,974 SF
    • 0.52 lot acres
    For Lease
    View Listing →
    Waukegan Commercial Lot For Rent For Lease
    Contact for pricing

    Waukegan Commercial Lot For Rent

    22,351 SF lot with high traffic counts.

    3000 Washington Street, Waukegan, IL 60085
    View Listing
    Property ID
    US28-1946313
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Subway / Restaurant

    Property Details for 3000 Washington St

    Year built
    1969
    Construction
    FRAME
    Lot size
    0.52 lot acres
    Property size
    1,974 SF
    Property type
    Gas stations
    APN
    08-19-400-044
    APU
    819400044

    Description

    This exceptional commercial land parcel, totaling 22,351 square feet, is strategically located at 3000 Washington Street in Waukegan, Illinois, zip code 60085. The property boasts a highly desirable location with exceptional visibility and accessibility due to its frontage on Washington Street, which experiences a high volume of daily traffic (27,000 vehicles per day), and its proximity to Green Bay Road (24,800 VPD). This prime location ensures significant exposure for any commercial development. The site is designated as a single-tenant property, offering flexibility for a variety of commercial uses. The area is well-established, with nearby retail establishments including CVS and Dunkin' Donuts, indicating a strong existing commercial presence and consumer base. The property's pin numbers are 08-19-400-043 and 08-18-400-044. This presents a rare opportunity to acquire a substantial commercial land parcel in a thriving location with high traffic counts and established retail neighbors. The property is classified as commercial land for single tenancy. This is an ideal location for businesses seeking high visibility and convenient access to a busy thoroughfare.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.875
    Latitude
    42.3599
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,611
    $61,464
    $51,507
    $112,971
    -
    $184,410
    $154,536
    $338,946

    Comparable in this City

    • Value Estimation by Request
      6,618 SF

      1112 Belvidere Rd

      SERVICE STATION WITH FOOD MART • 6,618 SF
      1112 Belvidere Rd, Waukegan, IL 60085-6202
      View Details
    • Value Estimation
      $725,000
      11,239 SF

      1150 Waukegan Rd

      SERVICE STATION WITH FOOD MART • 11,239 SF
      1150 Waukegan Rd, Waukegan, IL 60085-6731
      View Details
    • Value Estimation by Request
      1,500 SF

      2829 Belvidere Rd

      SERVICE STATION WITH FOOD MART • 1,500 SF
      2829 Belvidere Rd, Waukegan, IL 60085-6009
      View Details
    • Value Estimation by Request
      2,898 SF

      1100 Belvidere Rd

      SERVICE STATION WITH FOOD MART • 2,898 SF
      1100 Belvidere Rd, Waukegan, IL 60085-6202
      View Details
    • Value Estimation by Request
      1,440 SF

      1406 Grand Ave

      SERVICE STATION WITH FOOD MART • 1,440 SF
      1406 Grand Ave, Waukegan, IL 60085-3602
      View Details
    • Value Estimation by Request
      4,500 SF

      35 Edison Ct

      SERVICE STATION WITH FOOD MART • 4,500 SF
      35 Edison Ct, Waukegan, IL 60085-5336
      View Details

    Similar Nearby for Sale

    • $700,000
      1.52 Acres

      Prime Corner Development Site Available

      High-visibility 1.52-acre corner lot ideal for various commercial uses.
      Brookside Ave, Waukegan, IL 60085
      View Details
    • $1,200,000
      4,320 SF

      Waukegan Commercial Parcels For Sale

      Two commercial buildings, formerly a tire shop and car wash.
      1340-1350 Lewis Ave, Waukegan, IL 60085
      View Details
    • $175,000
      0.30 Acres

      Versatile Commercial Building in Waukegan

      Commercial building with potential, suitable for automotive or other uses.
      509 May St, Waukegan, IL 60085
      View Details
    • $289,000
      0.07 Acres

      Waukegan Commercial Property For Sale

      Commercial property in Waukegan, IL, available for sale.
      518 Chestnut St, Waukegan, IL 60085
      View Details
    • $250,000

      Leased Office and Event Space

      Fully leased office suites and event space with parking lot.
      814 Washington St, Waukegan, IL 60085
      View Details
    • Contact for pricing
      6,642 SF

      Retail Spaces on Grand Avenue

      Retail and office spaces available in Waukegan shopping center.
      2603-2709 Grand Ave, Waukegan, IL 60085
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr

      Remodeled Nail Salon Opportunity

      Fully remodeled nail salon with equipment and licenses included.
      1702 Washington St, Waukegan, IL 60085
      View Details
    • Contact for pricing
      1,075 SF

      Retail Space in Grocery Anchored Center

      Retail space available in a grocery-anchored shopping center.
      724-760 N Green Bay Rd, Waukegan, IL 60085
      View Details
    • $15 SF/Yr

      Retail Space in Waukegan Center

      Retail spaces available in neighborhood shopping center on Grand Ave.
      2603 Grand Ave, Waukegan, IL 60085
      View Details
    • $4 SF/Yr

      Former Restaurant Space For Lease

      Restaurant space in a high-traffic Fountain Square location.
      4030 Northpoint Blvd, Waukegan, IL 60085
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Fountain Square

      Inline retail space available in Waukegan shopping center.
      3933-3961 Fountain Square Pl, Waukegan, IL 60085
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3000 Washington St
    Waukegan, IL 60085
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3000 Washington St, Waukegan, IL, 60085
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!