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Waukegan Business Center

415 Washington Street, Waukegan, IL 60085

  • For Sale 3,000,000
  • Property Type Office - Office Building
  • Property Size 75,998 SF
  • Lot Size 2.61 Acre
  • Parking Spaces Avail. 177
  • Parking Ratio 2.33/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1940
  • Year Renovated 2016
  • Date Updated Mar 27, 2019
  • Construction Type Steel & Concrete

The Property consists of a two-story, plus functional lower level with atrium, multi-tenant office building totaling 75,998 square feet in downtown Waukegan that is approximately 54.4% leased. Waukegan Business Center is a value-add offering that allows investors the opportunity to purchase an asset well below replacement cost that benefits from cash flow from current tenants and still has tremendous upside with the amount of available units, many of which can be leased with new paint and carpet.

 

Waukegan Business Center is located in the heart of the downtown district one block from the original Lake County Courthouse, a half block from the new courthouse expansion and within walking distance to numerous restaurants and the Metra Station. Waukegan Harbor draws visitors from around the area for its festivals and easy access for boaters. The nearby Genesee Theater hosts a wide range of shows including national touring acts and performers. A new Dunkin Donuts was built across the street from the Property and highlights the growth and appeal of the downtown area to national retailers.

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Location

  • City Waukegan, IL
  • Zip Code 60085
  • Market Suburban Chicago

Contacts

John Homsher

Podolsky Circle CORFAC International

Principal

(847) 444-5715

Alissa Adler

Podolsky Circle CORFAC International

Managing Principal/Managing Broker

(847) 444-5770

Paul Tesdal

Podolsky Circle CORFAC International

Senior Vice President

(847) 444-5757

Highlights

  • Approximately 54.4% leased
  • Appeal to multiple office users
  • Easy access to public transportation
  • $110 million expansion by end of 2018

Frequently Asked Questions

What is the total square footage of Waukegan Business Center?

Waukegan Business Center totals 75,998 square feet.

When was this property built?

Waukegan Business Center was built in 1940.

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