Tri-State Parkway Portfolio 27.5 Ac

Land Description

RI Marketplace Online Auction April 28-30, 2025

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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-term appreciation potential at an attractive cost basis for those looking to capitalize on the region's sustained growth and strong tenant demand.

Scott Bowers

c/o Fisher Auction Company Inc.

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