742 West Greenwood Avenue, Waukegan, IL 60087

Property Description

Positioned on a prominent corner in an established residential neighborhood, this 11,986 SF masonry building offers a highly functional and adaptable layout ideal for a variety of institutional or community-oriented uses, including daycare, educational, or nonprofit occupancy. Originally constructed in 1967 and well-maintained, the property features a combination of private classrooms, administrative offices, and a large open auditorium-style space with stage—providing flexibility for programming, events, or assembly use. The building is equipped with zoned HVAC, multiple restrooms, and life-safety systems, making it well-suited for immediate occupancy or repositioning.

The property sits on a 15,000 SF corner lot, complemented by an additional 11,313 SF parking lot directly across the street with capacity for approximately 26 vehicles, offering a rare dual-parcel configuration that enhances functionality and accessibility. A small fenced outdoor area further supports childcare or recreational use. Located within a primarily residential neighborhood with proximity to local arterials and community amenities, the asset benefits from strong accessibility and a built-in user base. This offering presents a compelling opportunity for owner-users, investors, or organizations seeking a well-located, purpose-built facility with both immediate usability and long-term adaptability.

Location Description

Located in Waukegan, IL, the area surrounding the property is rich in amenities and attractions, making it an ideal location for multiple users. Nearby, you'll find the renowned Waukegan Harbor and Marina, offering picturesque views and recreational opportunities on the shores of Lake Michigan. The Genesee Theatre, a historic entertainment venue, is just a short distance away, providing a cultural hub for the community. In addition, the location benefits from the proximity of multiple parks, restaurants, and businesses, offering convenience and appeal.