Grayslake, IL 60030,33950 N US Highway 45 HWY
Grayslake, IL 60030,33950 N US Highway 45 HWY
Grayslake, IL 60030,33950 N US Highway 45 HWY
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Angela Ketelsen

Angela Ketelsen

+1(815) 980-0144
$775,000
Est. payment /mo
6,270 SqFt
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Key Details

Property Type Commercial

Sub Type Bus / Bus w/Real Est

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 6,270 sqft

Price per Sqft $123

MLS Listing ID 12426734

Annual Tax Amount $14,508

Tax Year 2024

Lot Dimensions 0.82 ACRES

Property Sub-Type Bus / Bus w/Real Est

Property Description

Incredible investment opportunity at the Country Motel located at 33950 W Hwy 45 in Gages Lake, IL. This 11-room motel is centrally located between Chicago and Milwaukee and directly adjacent to the College of Lake County, offering excellent potential for student housing conversion. The property generated $171,000 in revenue and $110,000 in NOI in 2024, with current owners operating efficiently and maintaining a strong local reputation. The owner's suite can be converted into a 12th unit, and nightly rates currently average just $70, presenting significant value-add potential. Ideal for investors seeking cash flow with multiple repositioning options including long-term rentals, Airbnb, or continued motel use. Conveniently located near Six Flags Great America, Gurnee Mills, Lake Michigan, and major employers.

Location

State IL

County Lake

Area Gages Lake / Grayslake / Hainesville / Third Lake

Zoning COMMR

Interior

Cooling Window Unit(s)

Fireplace N

Building

Dwelling Type Bus / Bus w/Real Est

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Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Benjamin Lovinger of  Baird & Warner 

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Angela Ketelsen

Angela Ketelsen

+1(815) 980-0144

Agent | License ID: 475192585

Agent License ID: 475192585

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33950 N US Highway 45 HWY

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