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    FOR LEASE
    Outlet malls

    3575 Grand Ave, Gurnee, IL 60031

    80,881 SF 6.31 ac lot Built 1954
    Entity Owned 9-yr Hold ~ Est. High Equity
    Property ID
    US28-1550021
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Disciples For Christ Worship Church
    • Members Church of God International Church
    • Magic Body Studios Spa & Massage Center Alternative Medicine Practice
    • Carmen Barnes - COUNTRY Financial Agent Insurance Agency
    • Erica Rodriguez - COUNTRY Financial Agent Insurance Agency
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.47M
    Blend (final) Blend
    $2.73M
    Owner & transaction history
    Rawda Investment Capital INC · 9 yrs held
    Rawda Investment Capital INC
    since 2017
    2 recorded transactions
    2017
    $5.1M
    2008
    $6.0M
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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