316 N Geneesee Street #304-318
Waukegan, IL, 60085
$749,000
Beds
0 Baths
0 SqFt
0 Acres
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MLS #MRD12757650 image #0
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.

Property Details

Price:
$749,000
MLS #:
MRD12757650
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Neighborhood:
parkcitywaukegan
Listed Date:
Sep 11, 2026
Total Sq Ft:
8,400
Year Built:
1999
Park City / WaukeganParkcitywaukegan

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Interior

Cooling
Central Air

Exterior

Stories
1

Financial

HOA Fee Frequency
Not Applicable
Net Operating Income
$48,676
Tax Year
2025
Taxes
$22,702

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Community

Market Summary

Current real estate data for Commercial in Waukegan as of Oct 09, 2026
25
Commercial Listed
211
Avg DOM
$860,347
Avg List Price

Property Summary

    316 N Geneesee Street #304-318 Waukegan IL is a Commercial for sale in Waukegan, IL, 60085. It is listed for $749,000

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316 N Geneesee Street #304-318
Waukegan, IL