422-484 N Green Bay Rd
Waukegan, IL 60085
Bay Ridge Court · Retail Property For Sale

SVN is excited to offer for sale 422-484 Green Bay Road, Waukegan, IL. The center sits on 2.6 acres and has 27,687 SF of retail space. Bay Ridge Court was built in 1991 with a Spanish architectural influence. There are 15 demised units accommodating 11 tenants that range from 1,120 SF to 5,980 SF, with 126 parking spaces. Several major retailers, including McDonalds, Walgreens, and Fifth Third Bank, are all within a half mile distance. The in place NOI is $237,496 which produces a cap rate of 9.69%. Currently the center is 84.51% occupied, allowing for some value add potential. The city of Waukegan is part of the Chicago metropolitan area. Waukegan sits along the shores of Lake Michigan, just 40 miles north of downtown Chicago and 8 miles south of the Wisconsin border. This retail center is located on Green Bay Road, also known as route 131. Situated close to three car dealerships and adjacent to a residential area including apartment buildings and several other retailers, it is approximately four miles east of I 94, and three miles west of Lake Michigan. This location on Green Bay Road shows a vehicle per day count of 32,000.