5101 Washington StGurnee, IL 60031

Property Details for 5101 Washington St

Year built

1989

Construction

BRICK

Lot size

4.01 AC

Property size (Sq ft)

62,213 SF

Property type

Retail space

APN

07-22-400-026

APU

722400026

Description

Saratoga Square, located at 5101 Washington St in Gurnee, IL 60031, offers a diverse range of office spaces within a well-established mixed-use development. This 80,000 square foot building provides multiple tenancy options, catering to businesses of various sizes and needs. The property boasts excellent visibility and accessibility, with prime exposure to Route 21 and Washington Street. The building's diverse tenant mix includes retail, restaurants, and mini office suites, creating a vibrant and thriving business community. On-site management ensures efficient operations and responsive tenant support. Ample parking is available for tenants and their clients. The property benefits from a strong history of long-term tenants, indicating a stable and desirable location for businesses seeking a well-established and reputable environment. Whether you require executive office space, medical office space, or traditional office space, Saratoga Square offers flexible options to accommodate your specific requirements. This Lake County property presents a unique opportunity to establish your business in a thriving and convenient location. The building's established reputation and strong tenant base make it an attractive investment for businesses seeking a stable and successful environment.

• CAP approach

  CAP return

  Valuation

  6%

  $16,512,945

  6.5%

  $15,242,718

  7%

  $14,153,952

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,916,476

  Geo Method

  $20,420,172

• Alternative Use

  Use

  Valuation

  Residential

  $12,857,803

  Hospitality

  $11,777,678

  Educational

  $9,798,890

  Medical

  $10,135,889

  Retail

  $15,242,718

Location Insight

City

Gurnee

County

Lake

State

Illinois

Latitude

42.3622

Longitude

-87.9285

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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