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215 N Waukegan Rd 4,200 SF 100% Leased Retail Building Lake Bluff, IL 60044 $995,000 ($236.90/SF) 7.12% Cap Rate
EXECUTIVE SUMMARY
BUILDING NOW UNDER NEW OWNERSHIP AND MANAGEMENT! COMPLETE REHAB OF BUILDING HAS BEEN COMPLETED INCLUDING NEW PARKING LOT, SIDEWALK, LANDSCAPING, SIGNAGE AND EXTERIOR UPDATES. First floor store front Unit 1-N is 1,125 sq ft has a brand new ADA restroom & HVAC in space. Currently occupied by Rodo's Upholstery. Space 1-S is occupied by Posh Paws of Lake Bluff. Both 1dt floor spaces have longer term leases. Space also includes a full 1,125 sq ft basement which can be used for storage or extra private work area. General commercial zoning includes retail space, office, convenience store, beauty & nail salon, medical office space; the possibilities are endless! Additional parking on side and rear of building. Second floor has two separate 2-Bedroom, 1-bath apartments that were fully rehabbed in 2022, including new kitchens, baths, flooring and new HVAC systems. Both second floor apartments are occupied. Please do not disturb tenants. Total monthly income is $7,500. This Property is Broker Owned & Managed.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,200 SF
Building Class
C
Year Built
1975
Price
$995,000
Price Per SF
$236.90
Cap Rate
7.12%
NOI
$70,844
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.33
Lot Size
0.29 AC
Zoning
GC - General Commercial Zoning in UNINCORPORATED Lake Bluff. Lake County controls all zoning and occupancy applications.
Parking
15 Spaces (3.57 Spaces per 1,000 SF Leased)
Frontage
125’ on Waukegan Road
AMENITIES
- 24 Hour Access
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-18-324-001 | Improvements Assessment | $14,681 |
| Land Assessment | $107,958 | Total Assessment | $122,639 |
PROPERTY TAXES
Parcel Number
12-18-324-001
Land Assessment
$107,958
Improvements Assessment
$14,681
Total Assessment
$122,639
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215 N Waukegan Rd
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