316 N Geneesee Street 304-318, Waukegan, IL

$749,000

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About 316 N Geneesee Street 304-318

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.

Features of 316 N Geneesee Street 304-318

MLS® # 12692069
Price $749,000
Bathrooms 0.00
Year Built 1999
Type Commercial Sale
Sub-Type Retail/Stores
Status Active

Community Information

Address 316 N Geneesee Street 304-318
Area Park City / Waukegan
City Waukegan
County Lake
State IL
Zip Code 60085

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Air
Fireplace No
Has Basement No

Additional Information

Days on Market 7
Zoning RTAIL
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees Freq. Not Applicable

Listing Details

OfficeRE/MAX SAWA

Listing Map

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