Lake County 2 Unit Warehouse | Gurnee — Sale in Gurnee, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Gurnee, IL 60031
  • Year built: 1979

Photos

Lake County 2 Unit Warehouse | Gurnee — Sale in Gurnee, IL, photo 1 of 2
Lake County 2 Unit Warehouse | Gurnee — Sale in Gurnee, IL, photo 2 of 2

Investment Figures

Cap rate
7.95%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4155 to 4165 Grove Avenue in Gurnee, Illinois. The subject property consists of approximately 17,400 square feet of shallow-bay industrial space situated on 0.73 acres. The property features masonry construction, Two Units, 17’ clear height, two grade-level doors, and two interior dock-high doors, making it an ideal location for contractors, small businesses, and light manufacturing. While the property shares a wall with another unit, 4175 Grove Avenue, the two are separate properties, not condominiums. Located immediately off U.S. Route 41, the property has close proximity to Interstate 94. The investment opportunity offers a fully occupied, one-year triple-net sale-leaseback with Liftex Inc. at $8.00 per square foot, generating a 7.95 percent cap rate. The lease can also be renewed for an additional year with a 3.0 percent rent escalation. Founded in 1955, Liftex Inc. is a leading global manufacturer of specialty commercial-grade lifting slings and cargo control solutions. The property is situated in the outperforming North Lake County submarket, highlighted by a 5.8 percent vacancy rate and 4.9 percent rent growth in Q2 2026. This compares to the national averages of a 7.8 percent vacancy rate and 1.7 percent rent growth (CoStar, based on the top 50 metros, classes A, B, & C, and minimum 10,000 square feet). The Chicago metropolitan area, where the North Lake County submarket is situated, is a major economic hub with a population of over 9.5 million people, spanning across six counties and over 10,000 square miles. The region has experienced steady job growth, driven by its diverse economy, which includes major industries such as manufacturing, logistics, and healthcare. The market is well-connected by a network of freeways, the most advanced rail network in the nation, and is home to two major international airports, O'Hare and Midway. The region is also a major hub for c

Market Context

This industrial in Gurnee, IL is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1979. Compare it against other industrial listings for sale in Gurnee, IL — view the full market.

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