Tri-State Parkway Portfolio

27+ Acres for Redevelopment off Grand Ave Exit!

Exceptional Redevelopment Opportunity in the Heart of Lake County

 

IREA is pleased to present a unique opportunity to acquire approximately 27.44 acres within the established Tri-State Parkway Corporate Campus in Gurnee, Illinois. Strategically positioned with immediate access to Interstate 94, this offering provides investors, developers, and owner-users with a rare chance to control a significant land position in one of Northern Illinois' most established business corridors.

 

Investment Highlights:

• ±27.44 Acres Total across multiple parcels within the Tri-State Parkway business park.
• Flexible Redevelopment Potential suitable for office repositioning, medical office, industrial flex, educational users, self-storage, mixed-use concepts, hospitality, or other adaptive reuse opportunities, subject to municipal approvals.
• Prime Interstate Access with convenient connectivity to Interstate 94, providing direct access to the greater Chicago metropolitan area, Milwaukee, and regional transportation networks.
• Established Corporate Environment surrounded by national and regional businesses within the mature Tri-State Parkway office corridor.
• Existing Infrastructure in Place, significantly reducing development timelines and costs compared to greenfield alternatives.
• Multiple Value-Add Strategies available, including building repositioning, selective disposition of individual assets, campus consolidation, phased redevelopment, or long-term land banking.
• Strong Demographics and Workforce Access supported by Lake County's affluent residential base and robust labor pool.
• High Barriers to Entry with limited opportunities remaining to acquire a campus-scale assemblage of this size in the North Suburban market.
• Potential for Phased Development, allowing developers to align future improvements with market demand while preserving flexibility.
• Proximity to Major Regional Amenities, including retail centers, restaurants, hotels, and entertainment destinations, enhancing the appeal for both tenants and end users.

 

Location Advantages:

• Immediate access to Interstate 94
• Approximately 35 miles north of Downtown Chicago
• Approximately 40 miles south of Milwaukee
• Located within the highly regarded Lake County business community
• Convenient access to regional airports, including O'Hare International Airport and Milwaukee Mitchell International Airport

 

A Rare Opportunity

Large-scale redevelopment opportunities in mature suburban markets are increasingly difficult to replicate. The Tri-State Parkway offering presents investors with the ability to capitalize on existing infrastructure, strategic location advantages, and a variety of execution strategies to unlock significant long-term value.

 

For additional information, site plans, surveys, and due diligence materials, please contact the listing team.

• Surrounded by major regional amenities, including Gurnee Mills, Six Flags Great America, restaurants and hotels, enhancing the appeal for both tenants and end users.