2000 W Grand Ave
1,500 SF Retail Building Waukegan, IL 60085 $515,000 ($343/SF) 8.16% Cap Rate
EXECUTIVE SUMMARY
This 1,500-square-foot freestanding building is situated on a 15,000-square-foot lot, providing ample parking space.
Since 2017, the property has been occupied by Oportun Financial, a national credit tenant specializing in inclusive, affordable financial services. The current lease extends through the end of 2026, with two additional four-year renewal options that include rent increases. The tenant manages all day-to-day maintenance, including landscaping and snow removal, and reimburses the owner for real estate taxes. This investment offers a stable income stream with a long-term tenant in place. The building's location on Grand Avenue ensures high visibility and accessibility, making it a valuable addition to any investment portfolio.
Since 2017, the property has been occupied by Oportun Financial, a national credit tenant specializing in inclusive, affordable financial services. The current lease extends through the end of 2026, with two additional four-year renewal options that include rent increases. The tenant manages all day-to-day maintenance, including landscaping and snow removal, and reimburses the owner for real estate taxes. This investment offers a stable income stream with a long-term tenant in place. The building's location on Grand Avenue ensures high visibility and accessibility, making it a valuable addition to any investment portfolio.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,500 SF
Building Class
C
Year Built
1951
Price
$515,000
Price Per SF
$343
Cap Rate
8.16%
NOI
$42,003
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.36 AC
Zoning
B-3, Waukegan - General Commercial
Parking
14 Spaces (9.72 Spaces per 1,000 SF Leased)
Frontage
101’ on Grand Avenue
Walk Score®
Very Walkable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 08-17-321-027 | Improvements Assessment | $45,101 |
| Land Assessment | $35,928 | Total Assessment | $81,029 |
