Office Properties in Waukegan, Illinois, offer a unique investment opportunity for those looking to tap into the city's diverse economy. With a mix of industrial, commercial, and residential areas, Waukegan provides a solid foundation for office properties to thrive. These properties can represent a range of investments, from single-story buildings to multi-story complexes, each catering to different business needs. Waukegan's strategic location, approximately 36 miles north of Chicago, makes it an attractive spot for businesses seeking proximity to the city without the high costs. The city's infrastructure, including the Waukegan Harbor, Waukegan National Airport, and Metra commuter rail service, provides easy access to transportation and amenities. Additionally, Waukegan's diverse neighborhoods, such as the historic downtown area and the lakefront, offer a unique blend of culture, recreation, and commerce. With attractions like the Genesee Theatre, Waukegan Municipal Beach, and the Waukegan History Museum, Waukegan is an excellent place for business and travel.
Waukegan's office properties are part of a larger commercial landscape that includes 10 available listings. The city's office market is characterized by an average price per square foot of $158 USD and an average size of 13,777 square feet. The largest office property available in Waukegan spans 58,716 square feet. In addition to office properties, Waukegan is home to a range of other commercial properties, including Commercial Real Estate, which offers a variety of retail and industrial spaces. Apartment Buildings are also available, providing housing options for residents and workers. Shopping Centers, like the one on Washington Street, offer a mix of retail and dining options. Finally, Hotels, such as the Hilton Garden Inn, provide accommodations for visitors and business travelers. With its diverse economy and range of commercial properties, Waukegan is an attractive destination for investors and businesses alike.
What is the average price per square foot for office properties in Waukegan?
The average price per square foot for office properties in Waukegan is $158 USD per square foot, with 10 available listings ranging in size from 13,777 square feet to 58,716 square feet, offering a diverse range of options for investors and businesses looking to establish a presence in this Lake County city.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Waukegan, it's essential to understand the different classifications, which can impact the property's value, amenities, and potential for investment.
- Class A office properties are typically high-rise buildings with premium finishes, advanced technology, and prime locations, often attracting high-end tenants and commanding higher rents.
- Class B office properties offer functional spaces with standard finishes and amenities, suitable for a wide range of tenants, and are often priced lower than Class A properties.
- Class C office properties are typically older buildings with fewer amenities, and may require renovation or upgrading, making them more affordable but also potentially more challenging to lease or sell.
