Auction - Crown Corporate Center-327K SF Office FOR SALE


Gurnee, IL
$1,000,000 USD
301-706-4619
, Gurnee, IL for Sale
$1,000,000 USD
Office - FOR SALE
1/20
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Auction - Crown Corporate Center-327K SF
Gurnee, IL


HIGHLIGHTS

  • STARTING BID $1,000,000 | 327,616 SF | 8 Buildings Individually Parceled | I-2 Zoning For Redevelopment | AUCTION SEPTEMBER 8-10, 2025
  • Large Multi-Tenant Office Campus: ±327,616 SF across eight buildings on ±27.5 acres with a total of 32 suites, offering flexible leasing configuration
  • Zoning and Scale Support Future Redevelopment: Zoned I-2, General Industrial District with a Variety of Flexible Permitted Uses
  • Significant Value-Add Potential: 85% of the property is currently vacant, presenting a compelling opportunity to lease-up space and increase revenue.
  • High-Density, Affluent Trade Area: ±124,000 people within a 5-mile radius and average household income exceeding $122,000, supporting strong demand
  • Strategic Chicago MSA Location: Located in Lake County with proximity to I-94 (+92K VPD)and strong regional access, drawing from a large labor pool

OVERVIEW

Marcus & Millichap is pleased to present Crown Corporate Center, a 327,616 rentable square foot office campus in the high-demand northern suburbs of Chicago. Located in Gurnee, Illinois, the offering includes eight single-story office buildings across 27.5 acres at 1025-1425 Tri-State Parkway. Built in 1999, the buildings feature modern layouts, 1,200 amps of power, and 480V electrical service, providing strong infrastructure for a wide range of potential uses. Currently about 20% occupied, the portfolio offers investors a blank slate. Those seeking to re-tenant can leverage the low acquisition basis to fund tenant improvements and leasing commissions, while others may pursue full-scale redevelopment. Investors have multiple paths to create value. These include adaptive reuse for retail, medical, or flex industrial; redevelopment into industrial or logistics uses, which remain in high demand throughout Lake County; re-tenanting the existing buildings to generate long-term cash flow; or repurposing the site for auto dealerships or retail concepts that benefit from high visibility and accessibility. Its favorable I-2, General Industrial District zoning, further enhances flexibility for adaptive reuse or redevelopment strategies. Gurnee, a thriving suburb in Lake County, sits about 40 miles north of Chicago. Situated just off Interstate 94, the property provides excellent access to Chicago, Milwaukee, and O'Hare International Airport, and is minutes from major regional draws including Gurnee Mills Mall and Six Flags Great America. Gurnee stands out as a Chicago MSA retail and tourism outperformer, with robust fundamentals across retail, office, industrial, and mixed-use segments. Its combination of heavy visitor traffic, strong demographics, diverse employment base, and supply-constrained development opportunities make it a compelling destination for value-add and ground-up projects in a solid suburban market. The Property further benefits from strong demographics with a population of 124,292 residents and an average household income of $122,446 within a 5-mile radius.

ASK ABOUT THIS PROPERTY

Adam SklaverMarcus & MillichapMore Info
301-706-4619

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Adam SklaverMarcus & MillichapMore Info
301-706-4619

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.