7 County StWaukegan, IL 60085

Property Details for 7 County St

Year built

1950

Construction

BRICK

Lot size

0.17 AC

Property size (Sq ft)

14,025 SF

Property type

Office buildings

APN

08-21-418-038

APU

821418038

Description

This exceptional investment opportunity presents a solid brick, multi-tenant office building encompassing 6,314 square feet. Constructed in 1950, this two-story building sits on a 7,560 square foot lot and is zoned B4 Central Business District. The property features a convenient on-site fenced parking lot, providing ample parking for tenants and visitors. An elevator ensures easy access to both floors. Its strategic location across from the Lake County Courthouse and near other government offices makes it ideally suited for legal practices or other professional businesses. The building's versatile layout allows for various configurations to accommodate diverse tenant needs. The asking price is $374,000. The property's APN is 0821418038. This is a rare chance to acquire a well-maintained, centrally located office building in Waukegan, Illinois, offering significant potential for return on investment. The property consists of one building.

• CAP approach

  CAP return

  Valuation

  6%

  $2,532,380

  6.5%

  $2,337,582

  7%

  $2,170,612

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,423,863

  Geo Method

  $1,826,756

• Alternative Use

  Use

  Valuation

  Residential

  $2,898,601

  Hospitality

  $2,655,103

  Educational

  $2,209,015

  Medical

  $2,284,986

  Retail

  $3,436,245

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.36

Longitude

-87.8323

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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