Downtown Waukegan Mixed-Use Asset Trades for $1.35 Million

CHICAGO, ILLINOIS — Chicago-based multifamily brokerage firm Essex Realty Group, LLC, is pleased to announce the sale of 200 North County Street, a 23-unit mixed-use property located in downtown Waukegan, Illinois. The asset sold for $1,350,000.

Waukegan Mixed-Use Property Sale Overview

Known locally as the historic “YMCA Building,” the property consists of 19 residential units and 4 ground-floor commercial spaces. 200 County presented investors with a compelling value-add opportunity through unit completion and lease-up at market rents.

Transaction Team

The transaction was successfully executed by Essex Principal Brian Karmowski and Director Anthony Citriglia on behalf of both the buyer and seller.

“It was a pleasure playing a small role ushering in a new chapter for 200 County. We’re excited to follow the new owner’s rehabilitation plans as well as the addition of a revitalized property to downtown Waukegan,” said Essex Principal, Brian Karmowski.

Location & Investment Fundamentals

The property’s location and flexible mixed-use configuration attracted strong interest from investors seeking both residential upside and stable commercial income. The building’s combination of historic character and redevelopment potential positioned it as a highly competitive offering in today’s market.

Situated in the heart of Lake County, the property offers access to the Waukegan Marina and Beach, surrounding employment hubs, and a variety of dining, retail, and entertainment, along with nearby bus routes and the Metra station just four blocks away. These fundamentals continue to position Waukegan as a growing investment submarket driven by downtown revitalization and expanding economic activity across Lake County.

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Since 1990, Essex Realty Group, LLC has served Chicago’s investment real estate market as a top multifamily brokerage firm, specializing in Chicago multifamily for sale properties. Contact us today to learn more about our recent multifamily and mixed-use property sales, or click HERE.

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