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33950 N US Highway 45 Highway Grayslake, IL 60030
6,270 SqFt
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Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active
Purchase Type For Sale
Square Footage 6,270 sqft
Price per Sqft $123
MLS Listing ID 12426734
Annual Tax Amount $14,508
Tax Year 2024
Lot Dimensions 0.82 ACRES
Property Sub-Type Bus / Bus w/Real Est
Property Description
Incredible investment opportunity at the Country Motel located at 33950 W Hwy 45 in Gages Lake, IL. This 11-room motel is centrally located between Chicago and Milwaukee and directly adjacent to the College of Lake County, offering excellent potential for student housing conversion. The property generated $171,000 in revenue and $110,000 in NOI in 2024, with current owners operating efficiently and maintaining a strong local reputation. The owner's suite can be converted into a 12th unit, and nightly rates currently average just $70, presenting significant value-add potential. Ideal for investors seeking cash flow with multiple repositioning options including long-term rentals, Airbnb, or continued motel use. Conveniently located near Six Flags Great America, Gurnee Mills, Lake Michigan, and major employers.
Location
State IL
County Lake
Zoning COMMR
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
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Listed by Benjamin Lovinger • Baird & Warner