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Prime Mixed-Use Opportunity on High-Visibility Route 83 - Flexible Layout with Strong Upside Potential, Located on a signalized corner along highly traveled Route 83 in Grayslake, this freestanding mixed-use property offers exceptional visibility and a unique opportunity for investors, business owners, or owner-occupants seeking a customizable live/work space. The property consists of approximately 3,360 sq ft on an oversized 100' x 150' lot with a 24-space private parking lot, providing excellent accessibility for both residential and commercial use. Currently in a "grey box / vanilla box" condition, the property presents a blank canvas ready for build-out, allowing the next owner to design and finish the space to suit their specific needs and goals. Property Features: Mixed-use configuration with separate commercial and residential spaces | Commercial area with clear-span construction for flexible layout options, currently offices are built out | Residential unit includes 3 bedrooms, 1.5 bathrooms, and full-height basement | Separate Washer/dryer hookup for Commercial & Residential | Large windows providing abundant natural light | 24-space on-site parking lot | Strong street presence with excellent exposure. Recent Improvements: Roof | HVAC systems (2 furnaces and 2 A/C units) | Plumbing and electrical systems (200 amp service) | Windows and parking lot | Large front patio. This property offers multiple potential use options, including owner occupancy with on-site business, rental income from one or both units, or a full investment opportunity. Conveniently located in the heart of Grayslake near residential neighborhoods, schools, and local businesses, providing a steady flow of traffic and strong visibility. Building also for lease.
| DAYS ON MARKET | 1 | LAST UPDATED | 6/9/2026 |
|---|---|---|---|
| YEAR BUILT | 1954 | COMMUNITY | Gages Lake / Grayslake / Hainesville / Third Lake / Wildwood |
| COUNTY | Lake | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| School District | Grayslake Central High School |
|---|---|
| Elementary School | Woodview School |
| Jr. High School | Grayslake Middle School |
| High School | Grayslake Central High School |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Gages Lake / Grayslake / Hainesville / Third Lake / Wildwood |
| BASEMENT | Full, Partially Finished, Yes |
| CONSTRUCTION | Brick, Vinyl Siding |
| HEAT | Forced Air |
| LOT | 0.34 acre(s) |
| LOT DIMENSIONS | 15000 |
| SEWER | Public Sewer |
| TAXES | 9222 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Coldwell Banker Realty
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Copyright 2026 MRED. All rights reserved.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 MRED. All rights reserved.
This IDX solution is (c) Diverse Solutions 2026.