3250 Belvidere RdWaukegan, IL 60085

Property Details for 3250 Belvidere Rd

Year built

1950

Construction

FRAME

Lot size

6.01 AC

Property size (Sq ft)

5,330 SF

Property type

Retail space

APN

08-30-112-008

APU

830112008

Description

This exceptional 5,330-square-foot commercial property in Waukegan, Illinois, presents a unique investment opportunity. Situated on a spacious 8-acre lot at 3250 Belvidere Rd, zip code 60085, this single-tenant building offers a flexible layout suitable for various business types. Built in 1950, the property boasts a 12-foot ceiling height, providing ample space and a sense of openness. The building's classification encompasses retail, office, and special-purpose uses, catering to a wide range of potential tenants. The B-3 General Commercial zoning allows for diverse business operations. The property includes 23 parking spaces, ensuring convenient access for employees and clients. The entire 5,330 square feet is currently vacant, offering a blank canvas for customization and tenant build-out. The property's location in Waukegan, Lake County, provides excellent visibility and accessibility. The APN is 0830112008. This is a rare opportunity to acquire a substantial commercial property with significant potential in a thriving area. The property's size, zoning, and location make it an ideal choice for businesses seeking a prominent presence in the Waukegan market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,414,720

  6.5%

  $1,305,896

  7%

  $1,212,617

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,363,619

  Geo Method

  $1,749,466

• Alternative Use

  Use

  Valuation

  Residential

  $1,101,572

  Hospitality

  $1,009,034

  Educational

  $839,504

  Medical

  $868,376

  Retail

  $1,305,896

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.3497

Longitude

-87.8817

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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