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574 S McAlister Ave , Waukegan, IL 60085
$0
Est. Payment: $0.00/mo
14001 Sqft
0.55 Acres
Status: auction | Days on site: 3
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28956 - 241128
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House Description

A rare opportunity to acquire one of Waukegan's most distinctive landmark properties. Originally constructed in 1900, this impressive institutional building encompasses approximately 14,001 square feet on a prominent 0.55-acre site, offering exceptional possibilities for redevelopment, adaptive reuse, investment, or owner-occupant conversion. Properties of this size and character rarely become available. The expansive floor plan, substantial footprint, and established presence create a unique foundation for a wide variety of future uses. Entrepreneurs, developers, educational organizations, religious institutions, non-profits, community groups, investors, and visionary business owners will immediately recognize the incredible potential this property presents. The approximately 24,002-square-foot parcel provides valuable land area for parking, outdoor amenities, gathering spaces, recreational uses, or future site enhancements, subject to municipal approval. The building's substantial square footage offers flexibility that is increasingly difficult to find in today's market, making it well suited for large-scale projects and creative redevelopment concepts. Whether your vision includes educational facilities, community services, training centers, office headquarters, professional space, cultural venues, creative studios, event facilities, wellness centers, mixed-use concepts, residential conversion opportunities, or other innovative uses, this property offers the scale and versatility to bring ambitious ideas to life. The combination of building size, lot dimensions, and established location creates a compelling opportunity for those seeking a project with long-term upside potential. Positioned within an established Waukegan neighborhood, the property benefits from convenient access to major transportation routes, residential communities, local businesses, public services, and the continued investment occurring throughout the surrounding area. Its central location provides accessibility while maintaining a strong neighborhood presence. The building's historic character and institutional scale offer an opportunity that would be difficult and costly to replicate through new construction. Buyers seeking a signature project will appreciate the chance to transform a property with such a substantial physical presence into a revitalized asset serving the needs of future generations. Whether pursuing adaptive reuse, redevelopment, expansion of an existing organization, or the creation of an entirely new destination, this property provides the space, visibility, and flexibility necessary to support a broad range of possibilities. Bring your vision and explore the extraordinary potential of this remarkable Waukegan property. Buyer to conduct independent due diligence regarding zoning, permitted uses, development possibilities, and future plans for the property.

Highlights

Listed by Fernando Godoy , 773-613-9900 eXp Realty , 888-574-9405. Midwest Real Estate Data mls logo

Property Type

Commercial Sale

Lot/Acreage
0.55

Year Built

1900

County

Lake

Area

Park City / Waukegan

Listing ID

12684198

Questions about this listing?

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Interior Features

Exterior Features

Lot Dimensions:1050
Zoning:OTHER
Parking Features:1-5 Spaces
Principal Interest
$0
Taxes
$0

Home Price

$0

Loan Details

30 yrs
7.08%

Down Payment

20%
$0
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$0.00

Principal

Taxes

Principal Taxes HOA Total
Monthly $0.00 $0.00 $0.00 $0.00
Yearly $0.00 $0.00 $0.00 $0.00
Total $0.00 $0.00 $0.00 $0.00
Lender profile image
Master Chief
Lender
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Market insight data is pulled from the same city as the listing being viewed (Waukegan, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T04:57:04.000Z

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