327K SF | 8 Buildings | 27.5 AC Site - Chicago MSA

Investment Highlights

• Highly Accesible & Desirable Location: Strategically positioned in Gurnee, IL, part of Lake County and near the border of Wisconsin, the property offers excellent visibility, direct access to major highways, and proximity to retail centers, dining, and essential business services.
• Flexible Office & Industrial Conversion Potential: The spacious layouts allow for various corporate, office, or industrial reconfigurations, making this an attractive option for investors and owner-users. The site is well-suited for conversion into a high-demand industrial or warehouse facility. 
• Robust Infrastructure & Power Capacity: Equipped with 1,200 amps of power and 480-volt electric service, the buildings can accommodate high-tech office users, light manufacturing, or industrial applications. Modern & Well-Engineered Construction—Built in 1999, the property features highly engineered, modern structures that provide long-term durability and cost efficiency. It offers a rare opportunity to acquire high-quality assets well below replacement cost.
• Full Fire Safety & Monitoring System: The property is fully sprinkled and includes an electronic fire monitoring system, ensuring compliance with modern safety standards and reducing long-term risk for investors and tenants.
• Efficient Climate Control: Serviced by RTU (rooftop units) with gas supply, the buildings maintain year-round heating and cooling efficiency, reducing operational costs for future ownership.
• High-Quality Interior Finishes: The buildings feature generously sized bathrooms with high-end ceramic tile finishes and shower facilities, enhancing tenant comfort and convenience.
• Rare Property in a Tightly Owned Market: Limited land availability and high construction costs have created significant barriers to entry in the Gurnee submarket, making existing assets increasingly scarce and valuable for investors.
• Free & Clear Financing: The property is being sold debt-free, allowing investors to customize their financing strategy to maximize returns.

Offering Summary

Baum Realty Group, LLC, in conjunction with RealINSIGHT Marketplace, is pleased to present for sale an 8-building, single-story office complex totaling 327,616 square feet on 27.5 acres of land, located at 1025–1425 Tri-State Parkway in Gurnee, IL. This property presents a rare value-add and redevelopment opportunity in a high-demand, low-vacancy market. In the aggregate, the buildings are 20% occupied, providing in-place income while a repositioning strategy is executed. Priced well below replacement cost, the opportunity offers investors a range of strategies and optionality to unlock its significant upside potential. Options include stabilizing the existing structures through lease-up, modifying the buildings to accommodate warehouse or logistics users, or pursuing a full-scale industrial redevelopment to capitalize on strong market demand.

Situated in a prime Lake County location near I-94, the property provides seamless access to Chicago, Milwaukee, and O’Hare International Airport, enhancing its appeal to logistics, distribution, and corporate users. The buildings were constructed in 1999 and feature modern infrastructure with full mechanical systems, flexible layouts, and substantial power capacity, ensuring operational efficiency for various industrial and commercial uses.

As one of Gurnee's largest contiguous development sites, the property stands out as a unique opportunity in an increasingly constrained market. With the limited availability of large-scale industrial and commercial sites in the area, this asset provides a rare chance for investors to secure a foothold in one of Chicagoland’s most strategically positioned submarkets. Whether through repositioning, redevelopment, or conversion, this property offers long- erm appreciation potential at an attractive cost basis for those looking to capitalize on the region’s sustained growth and strong tenant demand.