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. Listed at $1.6 million and steps away from Lake Michigan, this historic building known as the ‘YMCA Building’ consists of nineteen apartments and four ground-floor commercial spaces with 6,743 square feet combined space including an operational boxing gym.
According to Brian Karmowski, Managing Director at Essex and broker leading sales efforts: “This property provides investors with a rare opportunity for redevelopment that could yield cash-on-cash returns in excess of 7% once stabilized.” The unit mix includes one two bedroom apartment plus eighteen one bedrooms; five have been fully remodeled while fourteen are framed out ready for completion.
This is an ideal investment opportunity for those looking to capitalize on both its historical significance and potential upside growth within the area’s vibrant downtown district near Lake Michigan shores!
