Property profile

375 Il Rte 83 Grayslake, IL 60030

OFF-MARKET
Office buildings
Property ID
US28-1493768
2,160 SF 0.29 ac lot Built 1968
Individually Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This 2,200 square foot, single-story office building presents a compelling investment opportunity in Grayslake, Illinois. The frame-constructed building sits on an irregular lot measuring 57 x 288 x 213 x 59 feet, providing ample space. Located in the General Business District, the property boasts excellent visibility with frontage along Route 83, opening doors to a variety of commercial uses. The building is set back approximately 80 feet from the main road, allowing for approximately 10 parking spaces. Additional rear area offers potential for storage or extra parking. The property includes an overhead entrance door on the south side. Interior demolition is complete, presenting a blank canvas for a buyer to customize the space to their specific needs. With a modest amount of renovation, this property can be transformed into a highly functional and attractive commercial space. The asking price is $265,000. This is a rare opportunity to acquire a well-located commercial property with significant upside potential in a thriving business district. The property's location and zoning offer considerable flexibility for future development or adaptation to various commercial enterprises.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1968
Construction FRAME
Total area 2,160 SF
Lot 0.29 ac (12,632 SF)
APN 06-35-200-039
UPID US28-1493768

Cap rate & NOI

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

Location

375 Il Rte 83 Grayslake, IL 60030-1669
Grayslake metro Census 861106 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$280k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$295k

Owner & transaction history

since 2025
Last sale
$240,000
7 recorded transactions
2025
$240,000
2023
$125,000
2021
Price N/A
2020
Price N/A
2019
Price N/A
2014
Price N/A
2013
Price N/A

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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