Waukegan, IL Commercial Real Estate for Lease and Sale

Explore 46 listings of Waukegan commercial real estate for lease and for sale to find the best space for your business.

Amhurst Business Center

North Shore Tech Center I, Waukegan, IL
Property

Industrial
Availability

1 Space

40,504 SF
Year Built

1992
For Lease Contact for pricing
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1616 Grand Avenue

1616 Grand Avenue, Waukegan, IL
Property

Office

25,512 SF
Availability

3 Spaces

6,097 SF
Year Built

1960
For Lease

$16.00/SF/YR
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North Shore Tech Center II

1580-1598 S Lakeside Dr Waukegan USA, Waukegan, IL
Property

Industrial
Availability

1 Space

59,250 SF
Year Built

1990
For Lease Contact for pricing
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15,608-51,939 SF Available for Lease in Waukegan, Illinois

1475 Lakeside Drive, Waukegan, IL
Property

Industrial

63,939 SF
Availability

1 Space

51,939 SF
Year Built

1997
For Lease Contact for pricing
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2253-2309 Belvidere Road

2253 Belvidere Road, Waukegan, IL
Property

Flex Space

696,960 SF
Year Built

1967
For Sale

$6.75/SF
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2000 North Lewis Avenue

2000 North Lewis Avenue, Waukegan, IL
Property

Office

41,980 SF
Availability

3 Spaces

28,080 SF
Year Built

1998
For Lease

$14.00/SF/YR
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Bridge Point North Building VII

3979 Burwood Drive , Waukegan, IL
Property

Industrial

128,914 SF
Availability

1 Space

95,553 SF
Year Built

2020
For Lease Contact for pricing
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644 North Sheridan Road

644 North Sheridan Road, Winthrop Harbor, IL
Property

Office

8,043 SF
Availability

1 Space

2,800 SF
For Lease Contact for pricing
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1725 N Lewis Ave

1725 N Lewis Ave, Waukegan, IL
Property

Office

22,500 SF
Availability

2 Spaces

3,500 SF
Year Built

1961
For Lease

$18.00 - $19.20/SF/YR
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3211 N. Oak Grove Avenue

3211 N. Oak Grove Waukegan, Waukegan, IL
Property

Industrial

112,896 SF
Availability

1 Space

56,346 SF
For Lease Contact for pricing
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Grandview Court

920 North Green Bay Road, Waukegan, IL
Property

Retail

115,323 SF
Availability

7 Spaces

15,020 SF
Year Built

1989
For Lease Contact for pricing
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26,462-74,834 SF Available for Lease in Waukegan

3600 Burwood Dr, Waukegan, IL
Property

Industrial

187,500 SF
Availability

1 Space

74,834 SF
For Lease Contact for pricing
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4059-4081 Joseph Drive

4059-4081 Joseph Drive, Waukegan, IL
Property

Industrial

22,750 SF
Availability

1 Space

5,350 SF
For Lease

$10.50/SF/YR
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Bridge Point North Building VIII

3959 Burwood Drive , Waukegan, IL
Property

Industrial

100,314 SF
Availability

1 Space

41,234 SF
Year Built

2020
For Lease Contact for pricing
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2135-2251 Belvidere Rd, Waukegan, IL

2135-2251 Belvidere Rd, Waukegan, IL
Property

Retail

415,532 SF
Availability

15 Spaces

399,692 SF
For Lease

$10.00 - $40.00/SF/YR
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1930 North Lewis Avenue

1930 North Lewis Avenue, Waukegan, IL
Property

Office

13,650 SF
Availability Contact for availability
Year Built

1998
For Lease Contact for pricing
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Space For Lease at Douglas Center

2603-2709 Grand Ave, Waukegan, IL
Property

Retail

66,345 SF
Availability

2 Spaces

9,217 SF
For Lease

$15.00/SF/YR
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Delany Commerce Center

2431 North Delany Road, Waukegan, IL
Property

Industrial

218,500 SF
Year Built

2013
For Sale Contact for pricing
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210 N Martin Luther King JR Ave

210 N Martin Luther King JR Ave, Waukegan, IL
Property

Office

3,230 SF
Year Built

1950
For Sale Contact for pricing
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2309 Belvidere Road Waukegan

2309 Belvidere Road Waukegan, Waukegan, IL
Property

Land
Availability Contact for availability

For Lease Contact for pricing
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Delany Commerce Center

2431 North Delany Road, Waukegan, IL
Property

Industrial

218,500 SF
Availability

1 Space

218,500 SF
Year Built

2013
For Lease Contact for pricing
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40,129 SF Available for Sale in Waukegan

1585 Shields Dr, Waukegan, IL
Property

Industrial

40,129 SF
Year Built

1991
For Sale Contact for pricing
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2253-2309 Belvidere Road

2253 Belvidere Road, Waukegan, IL
Property

Flex Space

696,960 SF
Availability

1 Space

696,960 SF
Year Built

1967
For Lease Contact for pricing
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0 Northwoods Avenue Park City IL

0 Northwoods Avenue, Park City, IL
Property

Land

22,800 SF
For Sale

$55,000
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ITECH @ Amhurst

1507-1551 S Waukegan Rd 60085 USA, Waukegan, IL
Property

Office
Availability

1 Space

29,302 SF
Year Built

2000
For Lease Contact for pricing
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Timberlake Shopping Center

2223 North Lewis Avenue, Waukegan, IL
Property

Retail

77,627 SF
Availability

3 Spaces

40,020 SF
Year Built

1969
For Lease Contact for pricing
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Waukegan commercial real estate market incorporates 114,915 square feet of office space across 8 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Waukegan commercial real estate market includes 912,528 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Waukegan market, there is a total of 1,213,436 square feet of industrial property.

The listing inventory in Waukegan incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Waukegan is represented by Industrial space, which accounts for 1,211,780 square feet of available listings. Retail space available in Waukegan adds up to 508,343 square feet.

Meanwhile, most of the listings of commercial property for sale in Waukegan are in the Industrial category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Waukegan is $12.96 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Waukegan can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Waukegan, depending on the property type you are interested in.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $20 per square foot. In particular, the property type commanding the highest lease rates in Waukegan was Retail space.

Conversely, the highest sale price last year was $10,250,000 that is located at 2100 Norman Drive West.

The average size of a commercial property in Waukegan depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Waukegan, the average size of an office property is 19,153 square feet.
Retail properties here incorporate an average of 130,362 square feet.
Industrial space in Waukegan is in buildings that are, on average 101,120 square feet in size.

Waukegan, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Waukegan currently add up to 2,541,883 square feet. The market offers 7 active office listing(s), which amount to 69,779 square feet and account for 20% of commercial spaces on the market. Local retail availability includes 508,343 square feet across 6 retail space(s). Industrial space for rent opportunities in Waukegan amount to 1,211,780 square feet across a total of 17 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	7	69,779
Retail	6	508,343
Industrial	17	1,211,780
Other	4	751,981

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Waukegan, IL. Currently, there is 1,306,435 square feet of commercial property for sale here , which includes 1 office building(s) for sale , 2 retail investment opportunity listing(s) , and 5 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	1	3,230
Retail	2	27,104
Industrial	5	556,341
Other	4	719,760

Waukegan, IL Commercial Real Estate for Lease and Sale

Amhurst Business Center

1616 Grand Avenue

North Shore Tech Center II

15,608-51,939 SF Available for Lease in Waukegan, Illinois

2253-2309 Belvidere Road

2000 North Lewis Avenue

Bridge Point North Building VII

644 North Sheridan Road

1725 N Lewis Ave

3211 N. Oak Grove Avenue

Grandview Court

26,462-74,834 SF Available for Lease in Waukegan

4059-4081 Joseph Drive

Bridge Point North Building VIII

2135-2251 Belvidere Rd, Waukegan, IL

1930 North Lewis Avenue

Space For Lease at Douglas Center

Delany Commerce Center

210 N Martin Luther King JR Ave

2309 Belvidere Road Waukegan

Delany Commerce Center

40,129 SF Available for Sale in Waukegan

2253-2309 Belvidere Road

0 Northwoods Avenue Park City IL

ITECH @ Amhurst

Timberlake Shopping Center

Frequently Asked Questions

Waukegan, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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Waukegan, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Waukegan, IL?

What factors affect the price of commercial real estate in Waukegan, IL?

What is the average rent for commercial space in Waukegan, IL?

What are the best areas for commercial real estate in Waukegan, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Waukegan, IL?

Waukegan, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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About us