List Search

3550 W Grand Ave
Gurnee, IL 60031

$1,763,486 USD

Freestanding For Sale  •  20,568 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 20,568 SF
  • Lot Size 1.5 AC
  • Building Class B
  • Year Built 1975
  • Cap Rate 7.00 %
  • Tenancy Single
  • Zoning B-3
27 Transit Score
54 Walk Score

Highlights

New lease extension through June 2034 demonstrating long-term plans for the location
7.5% rental escalations every five years and in each renewal option
Located along Grand Ave (28,500 VPD), a primary east-west thoroughfare, and is immediately east of Highway 41 (37,900 VPD)
The tenant recently reworked the lease to extend the primary term and added an additional option term
Retailers in the trade corridor include Jewel-Osco, TCF Bank, Walgreens, Fifth Third Bank, Starbucks and McDonald’s

Property Flyers

Cap Rate: 7.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Harbor Freight Tools 6/30/2034

Public Transportation

Commuter RailDriveWalkDistance
Waukegan Station (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra)) 9 min - 3.7 mi
North Chicago Station (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra)) 11 min - 5.5 mi
AirportDriveWalkDistance
Chicago O'Hare International 42 min - 32.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 49
Type: Surface
Included in Rent: Yes
Randy Blankstein 847-562-0003 The Boulder Group
Randy Blankstein 847-562-0003 The Boulder Group