Essex Realty Group, Inc. has been selected to exclusively market 200 N. County Street, a 23-unit mixed-use property located in the heart of Lake County’s Downtown Waukegan, Illinois. The historic building is listed at $1.6 million and situated steps away from Lake Michigan’s shoreline providing investors with a rare opportunity for redevelopment with significant upside potential once stabilized – estimated cash-on-cash return in excess of 7%.
The unit mix consists of one two bedroom and eighteen one bedroom apartments; five fully remodeled while fourteen are framed out ready for completion along with 6,743 square feet of combined commercial space including an operational boxing gym facility on the ground floor level.
This unique investment opportunity offers investors an attractive return on their capital as well as exposure to the vibrant downtown Waukegan area that continues to experience growth due its proximity to Chicago’s metropolitan area and access to public transportation options such as Metra rail service connecting it directly into downtown Chicago within 90 minutes or less!
