Property profile

724 Grn Bay Rd Waukegan, IL 60085

OFF-MARKET
Retail space
Property ID
US28-1356291
33,032 SF 3.95 ac lot Built 1991
Entity Owned 28-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

Grandview Court, a thriving neighborhood retail center in Lake County, offers eight available spaces ranging from 1,000 to 4,028 square feet. This 115,323 square foot property boasts a prime location at the northwest corner of the bustling intersection of Grand Avenue and Green Bay Road, ensuring exceptional visibility and high traffic counts. The center benefits from a grocery store anchor, providing a strong draw for customers. Its strategic position just four miles east of the popular Gurnee Mills Outlet Mall further enhances its accessibility and potential customer base. Situated in a densely populated area, Grandview Court presents a unique opportunity for businesses seeking high-traffic exposure and a strong retail presence. The multiple tenancy structure allows for diverse businesses to thrive within a well-established and successful shopping center. The available spaces are ideal for a variety of retail uses, offering flexibility and potential for significant growth. This is an exceptional opportunity to establish or expand your business in a vibrant and highly visible location. Contact us today to learn more about the available spaces and lease terms.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1991
Construction BRICK
Total area 33,032 SF
Lot 3.95 ac (172,062 SF)
APN 08-18-324-012
UPID US28-1356291

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
  • Physician
  • Physician
  • Physician
  • Pediatrician Physician
  • Hospital

Location

724 Grn Bay Rd Waukegan, IL 60085-2236
Waukegan metro Census 861902 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
$5.20M
Comparable Approach Comparable
$5.32M
Blend (final) Blend
$795k

Owner & transaction history

since 1998
2 recorded transactions
2021
Price N/A
1998
Price N/A

Zoning & alternative use

Top alternative use upside
Auto repair, garage $5.8M +65.7%
Restaurant $5.5M +58.0%
Apartment house (5+ units) $3.7M +6.1%

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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