Industrial Property for Sale in Waukegan, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Waukegan, IL 60085
  • Year built: 1953

Description

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1445 11th Street in Waukegan, Illinois, leased to QXO. The subject property consists of approximately 82,500 square feet of warehouse space and is situated on 4.12 acres of land. The single-tenant asset features a clear height ranging between 12’ and 18’, three dock-high doors, two drive-in doors, a full sprinkler system, and 1.6 acres of fenced-in industrial outdoor storage space (IOS). Situated between Illinois Routes 131 and 137, the property conveniently sits north of the Great Lakes Naval Station with proximity to Interstate 94. In November 2025, QXO initiated a new 10-year lease on a triple-net basis at $3.56 per square foot with 3.0 percent annual escalations. QXO is the largest publicly traded distributor of roofing, waterproofing, and complementary building products in North America. The subject property is well-positioned within the large North Lake County submarket, containing 44.2 million square feet of industrial space. In 2025, the submarket experienced a significant rebound in industrial demand as 1.1 million square feet were absorbed on net. With only 44,000 square feet of new deliveries on net, the vacancy rate in North Lake County contracted sharply by 230 basis points to 5.7 percent, comfortably below the 7.7 percent national average (based on the top 50 metros, classes A, B, & C, and minimum 10,000 square feet). The reduction in availability helped to support local rent growth as the average market rate grew by 4.2 percent annually (more than twice the level nationwide). With no construction projects underway in North Lake County, demand will continue to navigate vacancies and rents for the foreseeable future (CoStar). Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.3 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters i

Market Context

This industrial in Waukegan, IL is listed for sale. It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1953. It has been on the market for 52 days. Compare it against other industrial listings for sale in Waukegan, IL — <a href="/search/sale/industrial/illinois/waukegan">view the full market</a>.

Contact

Explore this market

Similar Industrial Property for Sale in Waukegan, IL