2000 Grand AveWaukegan, IL 60085

Property Details for 2000 Grand Ave

Year built

1951

Construction

BRICK

Lot size

0.36 AC

Property size (Sq ft)

1,440 SF

Property type

Turn key restaurants

APN

08-17-321-027

APU

817321027

Description

This exceptional investment opportunity presents a 1,500 square foot retail building situated on a 15,000 square foot lot in Waukegan, Illinois, at 2000 Grand Avenue. The property boasts ample parking and is currently occupied by Oportun Financial, a national credit tenant, under a lease agreement extending to the end of 2026. The lease includes two four-year renewal options with built-in rent increases, ensuring a stable and predictable income stream for the foreseeable future. Oportun Financial, a mission-driven financial services provider, has been a tenant since 2017, demonstrating a long-term commitment to the location. The tenant is responsible for all day-to-day maintenance, including landscaping and snow removal, minimizing operational burdens for the owner. Furthermore, the tenant reimburses for real estate taxes, significantly reducing the owner's expenses. This turnkey investment offers a compelling opportunity for passive income generation with minimal management requirements. The property's location in Waukegan provides excellent visibility and accessibility. This is an ideal opportunity for investors seeking a low-maintenance, high-return investment with a strong, established tenant. The asking price is $515,000. Please do not disturb the tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $382,213

  6.5%

  $352,812

  7%

  $327,611

• Comparable approach

  Method

  Valuation

  Relative Method

  $368,407

  Geo Method

  $472,651

• Alternative Use

  Use

  Valuation

  Residential

  $297,610

  Hospitality

  $272,610

  Educational

  $226,808

  Medical

  $234,608

  Retail

  $352,812

Location Insight

City

Waukegan

County

Lake

State

Illinois

Latitude

42.3706

Longitude

-87.8573

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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