Location: 200 North Green Bay Road, Waukegan, IL, 60085, United States

Approx. 5.67 Acre Redevelopment Site Zoned B-3 Improved with Closed, Former Ramada Inn Hotel

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Description

Listed in Cooperation with Christopher Stephens, Stephens Group, Dream Town Real Estate

Suggested Opening Bid: $1,200,000.00
Cooperating Broker Commission: 2%
Acres: Approx. 5.67
Zoned: B-3
Approx. SF Per Hotel Room: 520 (Some Suites are Larger; Approx. 720 SF)
2023 Taxes: $36,549.90
Frontage: Approx. 900’ (Approx. 500’ on Green Bay Road)
VPD: Approx. 30,000

This approx. 5.67 Acre site at 200 North Green Bay Road in Waukegan, IL is currently improved with a closed, 186 room hotel (former Ramada Inn) with banquet, restaurant and lounge spaces. This property could be redeveloped for a hospitality, senior living or multi-family use, or it could be demolished and replaced with a multitude of uses permitted within its B-3 zoning.
Located on busy Green Bay Road next to a Brookside Senior Living facility, this site has more than 900’ of frontage, with more than 500’ of that frontage on Green Bay Road. Traffic counts are approx. 30,000 vehicles per day. Within a 3-mile radius there is a population of more than 110,000 with an average household income of $90,000.

Link to Zoning Ordinance: https://www.waukeganil.gov/DocumentCenter/View/10026/Unified-Development-Ordinance-Draft-pdf?bidId=

Pre-Auction Offers Highly Encouraged!

Total Bids Placed:

Auction has expired

Auction Expired because there were no bids
Auction started November 25, 2024 11:00 am CST

Auction Information

ONLINE-ONLY AUCTION

Bidding Starts: November 25, 2024 11:00 am CST

Bidding Ends: November 27, 2024 11:00 am CST

Location: 200 North Green Bay Road, Waukegan, IL, 60085, United States

How to Submit Pre-Auction Bid

Click on the Pre-Auction Offer Form button on the property page and submit your bid with proof of funds.

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BID APPROVAL PROCESS:

Review all information and due dilligence documents posted on the property listing on our website.

Read the Terms and Conditions and Purchase and Sale Agreement posted on the property listing on our website.

Wire or overnight the certified funds required to bid on the property (for amount required see Terms and Conditions).

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