Fully Stabled Retail Center with Opportunity to Add Value

3601 Grand Ave Gurnee, IL 60031

3601 Grand Ave, Gurnee, IL, 60031
3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031 3601 Grand Ave, Gurnee, IL, 60031
FOR SALE
Property Type:
Strip Center
Amount:
$3,200,000
Last Verified:
Oct 07, 2022

Highlights

  • Fully Stabilized Retail Center
  • Anchored by Sherwin-Williams and Velazquez Complete Auto Care
  • Well below replacement cost - $89.56/sf
  • Below market rents - Average $6.69/sf net (10.35/sf gross)
  • 27,893 VPD on Grand Ave

Description

Fully leased retail center consisting of a 29,529 SF multi-tenant retail building with a 6,000 SF freestanding building on separate parcel. Stable rent roll anchored by Sherwin-Williams and Velazquez Complete Auto Care. Significant opportunity to grow income over time by increasing rent on tenants paying well below market rates.

Unobstructed visibility at signaled hard corner. High quality full masonry construction with brick facade. Large lot with excess land.

Positioned on heavily trafficked Grand Ave just east of Skokie Highway in Gurnee, approximately 40 Miles north of the Chicago CBD. The property is on the signaled hard corner of Grand Ave and Belle Plaine Ave with full access on both frontages.
Surrounding National Retailers include Jewel-Osco, Harbor Tool & Freight, Advanced Auto Parts, Walgreens, Glidden Paints, Family Dollar, Dollar Tree, Speedway, and U-Haul Moving and Storage.


Year Built: 1983
Building Size: 35259sq ft
Lot Size: 4.29 acres

Map of 3601 Grand Ave, Gurnee, IL, 60031

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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