39023 N Green Bay Rd Beach Park, IL 60087
Property profile & analytics
39023 N Green Bay Rd Beach Park, IL 60087
- Commercial real estate
- 14,547 SF
- 2.02 lot acres
Property ID
US28-0068627
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.
Location Intelligence
Current Use by Public Records
- Carol Comstock, RPH / Pharmacy
- Skincare Solutions Store / Medical Clinic / Skin Care Clinic
- Walgreens / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
Property Details for 39023 N Green Bay Rd
- Lot size
- 2.02 lot acres
- Property size
- 14,547 SF
- Property type
- Commercial real estate
- APN
- 04-30-304-015
- APU
- 430304015
Description
This exceptional investment opportunity presents a 14,547-square-foot Walgreens, situated on a 2.02-acre lot at 39023 N Green Bay Rd, Beach Park, IL 60087. The property boasts a prime location on a signalized hard corner with high visibility, experiencing 27,700 vehicles daily. Built in 2005, this single-tenant, absolute NNN leased property benefits from a recent lease extension through March 31, 2034, providing a remaining lease term of 9.4 years with ten 5-year renewal options. The property offers a strong 6.35% cap rate and a substantial NOI of $300,000, with an asking price of $4,724,409 ($324.77/sq ft). The Walgreens location is strategically positioned within the Chicago MSA, a high-population area, and enjoys proximity to major roadways including Route 41 (31,700 VPD) and Interstate 94 (66,800 VPD), as well as Waukegan National Airport. The surrounding area features a dense population exceeding 127,000 within a five-mile radius, with an average household income exceeding $113,848 within one mile. The property's proximity to Illinois State Beach Park, attracting over 1.25 million visitors annually, further enhances its desirability. Limited drug store competition in the immediate area ensures sustained market strength. This is a rare opportunity to acquire a well-established, high-performing Walgreens investment in a prime location.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,455,000
- ML approach
- $4,395,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,510,000
- 6.5%
- $2,315,000
- 7%
- $2,150,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,083,000
- AI Estimate
- $2,596,000
Market price range: $1.48M - $4.31MMarket price range: $585k - $3.87M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,575,000 Current use
- AUTO REPAIR, GARAGE
- $2,545,000 Change: -1% Conversion: Difficult
- RESTAURANT
- $2,480,000 Change: -4% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Beach Park
- County
- Lake
- State
- Illinois
- Longitude
- -87.8758
- Latitude
- 42.429
- 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
$49,443
$219,743
$247,386
$467,129
-
$659,295
$742,232
$1,401,527
