Property profile

3575 Grand Ave Gurnee, IL 60031

FOR LEASE
Outlet malls
Property ID
US28-1550021
80,881 SF 6.31 ac lot Built 1954
Entity Owned 9-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Gurnee Village Commons offers a unique investment opportunity in a prime Lake County, Illinois location. This 105,000 square foot mixed-use property, classified as Class B, sits on six acres of land at 3575 Grand Ave, Gurnee, IL 60031. The single-story building, constructed in 1965, features a 14-foot ceiling height and boasts multiple suites, with a minimum divisible space of 786 square feet and a maximum contiguous space of 48,303 square feet. The property includes 340 parking spaces and two drive-in bays. Its strategic location on Grand Avenue (Route 132), between Green Bay Road and Skokie Highway (US 41), provides exceptional visibility and accessibility. With over 450 feet of frontage on Grand Avenue, the property benefits from high traffic counts of nearly 30,000 vehicles per day. The area's population within a three-mile radius exceeds 100,000 residents, and the property is approximately two miles east of Six Flags Great America. Zoning allows for a variety of uses, including retail, office, general commercial, self-storage, and drive-through restaurants (with special use permit). An outlot is available for ground lease. This property presents a compelling opportunity for businesses seeking flexible warehouse or flex space in a high-traffic, densely populated area.

Property profile

Verified
Property type Outlet malls
Use group WHOLESALE OUTLET, DISCOUNT STORE
Year built 1954
Construction BRICK
Total area 80,881 SF
Lot 6.31 ac (274,733 SF)
APN 07-24-200-002
UPID US28-1550021

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Church
  • Church
  • Spa & Massage Center Alternative Medicine Practice
  • Insurance Agency
  • Insurance Agency

Location

3575 Grand Ave Gurnee, IL 60031
Gurnee metro Census 861510 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.47M
Blend (final) Blend
$1.05M

Owner & transaction history

since 2017
2 recorded transactions
2017
$5.1M
2008
$6.0M

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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