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    OFF-MARKET
    Office buildings

    375 Il Rte 83, Grayslake, IL 60030-1669

    2,160 SF 0.29 ac lot Built 1968
    Individually Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US28-1493768
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
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    Owner & transaction history
    Giorgi Bazgadze · 1 yrs held
    Giorgi Bazgadze
    since 2025
    Last sale
    $240,000
    7 recorded transactions
    2025
    $240,000
    2023
    $125,000
    2021
    2020
    2019
    2014
    2013
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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