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About the Listing 6882 - 35222
The subject property is an eight-unit neighborhood retail center constructed in 1999, offering a diverse and stable tenant mix. Current tenants include China Garden restaurant, a tax service office, a staffing agency, two hair salons, and a retail shop(bakery). The property currently has one vacancy, which the owner is using for storage. All tenants are responsible for their own utilities, providing an efficient and low-maintenance expense structure for ownership. The center features a 21-space parking lot, offering convenient access for both tenants and customers. This property presents a compelling value-add opportunity, as all but one tenant is on year-by-year leases at below-market rental rates, allowing for future income growth through lease renewals and repositioning. Strategically located near the Lake County Courthouse and Sheriff's Office, and steps to Genesee Theatre and Metra. office buildings. The property benefits from strong daytime traffic and excellent accessibility, making it a highly convenient destination for both employees and residents.
Listing Highlights
Status
Active
Days on Site
15
Property Type
Commercial Sale
MLS ®
12692069
Year Built
1999
Total Square Footage
8,400
Lot/Acreage
0.43
County
Lake
Area
Park City / Waukegan
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central Air
- Heating: Central Heat/Indiv Controls
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 165x110
- Zoning: RTAIL
- Roof:
- Others:
- Sewer:
- Parking Features: 19-30 Spaces
Financial Details
- Tax Amount: $22,702
- Taxes w/Assessments: N/A
- Tax/Property ID: 08212160130000
- Tax Year: 2025
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
316 N Geneesee Street 304-318 Waukegan, IL 60085
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