25 County StWaukegan, IL 60085

Property Details for 25 County St

Year built

1960

Construction

BRICK

Lot size

0.21 AC

Property size (Sq ft)

13,500 SF

Property type

Office buildings

APN

08-21-418-034

APU

821418034

Description

This exceptional 10,034 square foot, two-story office building is situated in the vibrant heart of Downtown Waukegan, Illinois, directly across from the Lake County Courthouse. The property boasts a highly desirable location offering excellent visibility and accessibility. Currently occupied by multiple tenants on month-to-month leases, this presents a unique opportunity for an investor or owner-occupier. The existing tenants are amenable to longer-term leases, or the entire building could be easily adapted for a single large tenant. Recent upgrades enhance the property's appeal, including a completely renovated lobby and common hallways, creating a professional and inviting atmosphere. Built of concrete, the building features a convenient elevator for easy access to both floors. Significant recent investments include a new boiler and roof, minimizing future maintenance concerns. On-site parking is provided for eleven vehicles in a rear lot, supplemented by ample street parking on North County Street. The versatile floor plan makes this property suitable for a wide range of uses, including law firms, city or county offices, educational institutions, financial services companies, and many other professional businesses. The 0.21-acre lot provides ample space for the building and parking. This is a rare opportunity to acquire a well-maintained, centrally located office building in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,437,585

  6.5%

  $2,250,079

  7%

  $2,089,359

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,370,563

  Geo Method

  $1,758,375

• Alternative Use

  Use

  Valuation

  Residential

  $2,790,098

  Hospitality

  $2,555,714

  Educational

  $2,126,324

  Medical

  $2,199,452

  Retail

  $3,307,616

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.3605

Longitude

-87.8322

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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