2504 Washington St Waukegan, IL 60085

This exceptional investment opportunity presents the Washington Tower Professional Building, a six-story Class B office building situated at 2504 Washington Street in Waukegan, Illinois. Boasting 28,796 square feet of net rentable space across 44 units, this multi-tenant property currently enjoys a 98.34% occupancy rate, generating a strong NOI of $227,250. The building, constructed in 1970, sits on a 30,492 square foot lot and offers ample parking with 131 spaces. Its strategic location provides high visibility and easy access to major roadways. The property's proximity to Lake Behavioral Hospital attracts a diverse tenant base, including medical professionals and various service providers. The asking price is $2,595,000, representing a compelling cap rate of 8.76% (pro-forma 8.79%). The building is zoned B and features a modified lease structure. Financial data indicates a pro-forma NOI of $228,000. This stabilized investment is an attractive option for discerning buyers seeking a high-performing asset in a desirable location. The property is offered as a single building purchase, though it is also available as part of a larger two-building portfolio.