1. Illinois
  2. Grayslake
  3. 33950 N US Highway 45 Highway
$775,000

33950 N US Highway 45 Highway, Grayslake, IL 60030

  • 6,270 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon0.82acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $124/sqft
  • Property List Date Icon Listed 1 month ago

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.

Listing Status:
Active
Listing Office:
Baird & Warner : 847-367-1855
Listing Agent:
Benjamin Lovinger : 847-778-9519
MLS ID:
12426734
  • A/C: Window Unit(s)

This listing courtesy of Benjamin Lovinger, Baird & Warner

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Woodland Primary School

17366 W Gages Lake Rd, Grayslake, IL, 60030

Grades PK-KG

1.65 miles away

W

Woodland Middle School

7000 Washington St, Gurnee, IL, 60031

Grades 6-8

1.53 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.