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2603 - 2709 W Grand Avenue - Douglas Centre - Douglas Centre, Waukegan, IL
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2603 - 2709 W Grand Avenue - Douglas Centre - Douglas Centre
Waukegan, IL 60085 - Far North Submarket
Existing , Renov 1991
5.54 AC (241,200 SF)
Total Space Avail:
Free Surface spaces are available; Ratio of 4.55/1,000 SF
Banking, Restaurant, Signage, Adaptive Reuse
10,000 SF addition currently under construction. Completion expected by end of 2003.
First Time Ever on Market -- SVN | Chicago Commercial is pleased to offer for sale Douglas Centre, a 65,499 SF Grocery Shadow-Anchored Shopping Center on heavily trafficked Grand Ave in Waukegan, IL. Located approx. 35 miles north of downtown Chicago, Douglas Centre is a NNN-leased property that offers investors a 94% stabilized asset, while offering a value add opportunity in the existing vacancy. Great mix of national and local tenants including Dollar General, Talecris Plasma Resources, Rent A Center, Metro PCS, Dotty's Cafe, and Tacos El Norte among others. Dollar General and Talecris, who collectively occupy 43% of the property have brand new 5-year lease renewals. Over 57% of the property's income is from national tenants. Shadow anchored by local powerhouse grocery store Lewis Fresh Market. The property is being offered at an 8.3% cap rate on 2016 scheduled income.
Douglas Center is situated on the heavily trafficked Grand Ave (IL Rt. 132) which is one of the main retail/commercial corridors in the city of Waukegan. Most major retailers are situated within close proximity to this location. It is close to I-94, I-41, Green Bay Road and downtown Waukegan.
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