Home › NNN Properties For Sale › Illinois › Lake County
24 NNN properties are observed for sale in Lake County, Illinois across 21 tenants and 13 towns as of November 9, 2026, at a median asking cap rate of 6.55%, 36 basis points below the Illinois median of 6.91%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, places each listing in its county from its mapped location, checks rated tenants against the investment grade threshold, and publishes the observations here: which tenants and towns carry the inventory, what it is asking, how Lake County prices against Illinois and the national market, and how an acquisition or 1031 exchange buyer should work through it.
Asking cap rates in Lake County run from 5.00% to 8.25%, with the middle half of listings between 6.00% and 7.23%. Median asking price $3.40M (median $567 per SF). Average remaining lease term 9.8 years among 7 listings that state a term. 4 listings report a 2026 build year. 13 listings were first observed and 8 dropped off active tracking in the last 90 days. Figures update automatically across publicly marketed offerings and broker materials.
Lake County vs Illinois and the National NNN Market
| Measure | Lake County | Illinois | United States |
|---|---|---|---|
| Observed listings | 24 | 330 | 7,398 |
| Median asking cap rate | 6.55% | 6.91% | 6.35% |
| Middle half of asking cap rates | 6.00% to 7.23% | 6.00% to 7.75% | 5.70% to 7.15% |
| Median asking price | $3.40M | $2.61M | $2.77M |
| Average remaining lease term (listings stating a term) | 9.8 yrs | 8.2 yrs | 10.1 yrs |
| Listings with an investment grade rated tenant brand or parent company | 17% | 28% | 25% |
All three columns use the same listing rules. A county median reflects both location and which tenants are on the market, so compare any listing with its tenant’s cap rate range before reading a gap as a discount or a premium.
NNN Properties For Sale in Lake County: Latest Listings
Up to twenty-four single-tenant net lease properties in Lake County with published pricing, the newest from each tenant first. Below the table, the full listing browser carries every observed Lake County listing with tenant, town, cap rate, price and term filters. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Tenant | Town | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|---|
| Popeyes | Zion | $2,519,685 | 6.35% | $160,000 | n/a | 2022 | Not stated | Get full property data |
| PNC Bank | Lake Zurich | $6,000,000 | 6.05% | $363,000 | n/a | 2014 | Not stated | Get full property data |
| La Fitness | Round Lake Beach | $10,115,000 | 7.75% | $783,895 | n/a | 1995 | Not stated | Get full property data |
| The Neighborhood Clinic | Round Lake Beach | $5,400,000 | 7.81% | $422,000 | n/a | 2023 | Not stated | Get full property data |
| BrightPath Academy | Kildeer | $7,213,000 | 7.00% | $504,900 | n/a | 2022 | Not stated | Get full property data |
| Mattress Warehouse | Vernon Hills | $3,300,800 | 6.25% | $206,300 | n/a | 1980 | Not stated | Get full property data |
| Wintrust Community Bank | Gurnee | $3,040,000 | 5.10% | $155,000 | n/a | 2026 | Not stated | Get full property data |
| Dutch Bros | Buffalo Grove | $3,402,000 | 5.85% | $199,000 | n/a | 2026 | Not stated | Get full property data |
| Starbucks | Waukegan | $2,600,000 | 6.00% | $156,000 | n/a | 2023 | Not stated | Get full property data |
| Just Tires | Lake Zurich | $3,555,000 | 6.75% | $240,000 | n/a | 2016 | Not stated | Get full property data |
| Advocate Health & Hospitals | Libertyville | $589,000 | 7.16% | n/a | n/a | 2010 | Not stated | Get full property data |
| ATI Physical Therapy | Round Lake Beach | $1,457,164 | 8.25% | $120,216 | 4.4 yrs | 2020 | NN | Get full property data |
| Harbor Freight Tools | Gurnee | $1,654,510 | 7.25% | $119,952 | 7.9 yrs | 1972 | NN | Get full property data |
| Heartland Dental | Antioch | $1,893,000 | 7.00% | $132,480 | n/a | 2007 | Not stated | Get full property data |
| Fifth Third Bank | Lake Forest | $6,390,000 | 5.00% | $319,347 | 16.8 yrs | 2002 | Not stated | Get full property data |
| Raising Cane's | Vernon Hills | $3,400,000 | 5.00% | $170,000 | 14.9 yrs | 2026 | Absolute NNN | Get full property data |
| Ashley Homestore | Gurnee | $7,530,000 | 7.00% | $527,340 | 6.9 yrs | 1992 | NN | Get full property data |
| Kroger | Vernon Hills | $40,655,633 | 6.00% | n/a | n/a | 2011 | Not stated | Get full property data |
| Taco Bell | Waukegan | $2,151,481 | 6.10% | $131,240 | 9.7 yrs | 2001 | Absolute NNN | Get full property data |
| Walgreens | Beach Park | $3,870,968 | 7.75% | $300,000 | 7.7 yrs | 2005 | Absolute NNN | Get full property data |
| Dutch Bros | Waukegan | $2,991,000 | 5.65% | $169,000 | n/a | 2026 | Not stated | Get full property data |
| Walgreens | Vernon Hills | $5,375,000 | 8.00% | n/a | n/a | 2006 | Not stated | Get full property data |
Showing 22 of 24 observed Lake County listings: the newest from each tenant first, then each tenant’s next newest. Listings without a published asking price and cap rate are not shown here.
Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Lake County NNN Properties by Tenant
Listing count, median asking cap rate and cap range by tenant. Tenants with a linked page have a profile covering credit rating status, cap rates and inventory.
| Tenant | Listings | Median Cap | Cap Range | Median Price | |
|---|---|---|---|---|---|
| Walgreens | 3 | 7.88% | 7.75% to 8.00% | $3.87M | Walgreens NNN for sale |
| Dutch Bros | 2 | 5.75% | 5.65% to 5.85% | $3.20M | Dutch Bros NNN for sale |
| Advocate Health & Hospitals | 1 | n/a | 7.16% | $0.59M | |
| Ashley Homestore | 1 | n/a | 7.00% | $7.53M | |
| ATI Physical Therapy | 1 | n/a | 8.25% | $1.46M | ATI Physical Therapy NNN for sale |
| BrightPath Academy | 1 | n/a | 7.00% | $7.21M | |
| Fifth Third Bank | 1 | n/a | 5.00% | $6.39M | Fifth Third Bank NNN for sale |
| Harbor Freight Tools | 1 | n/a | 7.25% | $1.65M | Harbor Freight Tools NNN for sale |
| Heartland Dental | 1 | n/a | 7.00% | $1.89M | Heartland Dental NNN for sale |
| Just Tires | 1 | n/a | 6.75% | $3.56M | |
| Kroger | 1 | n/a | 6.00% | $40.66M | Kroger NNN for sale |
| La Fitness | 1 | n/a | 7.75% | $10.12M | |
| Mattress Warehouse | 1 | n/a | 6.25% | $3.30M | |
| PNC Bank | 1 | n/a | 6.05% | $6.00M | PNC Bank NNN for sale |
| Popeyes | 1 | n/a | 6.35% | $2.52M | Popeyes NNN for sale |
| Raising Cane's | 1 | n/a | 5.00% | $3.40M | |
| Regal Cinemas | 1 | n/a | n/a | $6.90M | |
| Starbucks | 1 | n/a | 6.00% | $2.60M | Starbucks NNN for sale |
| Taco Bell | 1 | n/a | 6.10% | $2.15M | Taco Bell NNN for sale |
| The Neighborhood Clinic | 1 | n/a | 7.81% | $5.40M | |
| Wintrust Community Bank | 1 | n/a | 5.10% | $3.04M |
Tenants with the most Lake County listings observed (all 21).
Tenant Credit in Lake County
4 of 24 observed Lake County listings (17%) are leased to tenant brands whose own or parent company’s verified S&P, Moody’s or Fitch rating is investment grade (BBB‑ or Baa3 and above) in the Investment Grade ratings database, compared with 28% across Illinois and 25% nationally. Brands not yet in the ratings database count as not rated, so the share is a floor. A franchised location may be leased to a franchisee rather than the rated company, so confirm the tenant and any guarantee in the lease. Ratings and outlooks by tenant are on the investment grade credit tenant ratings page.
Lake County NNN Properties by Town
The towns with the most observed Lake County listings are Round Lake Beach (4), Vernon Hills (4), Gurnee (3) and Waukegan (3). Tap any town in the table to filter the full listing browser to that town.
| Town | Listings | Median Cap | Avg Asking Price |
|---|---|---|---|
| Round Lake Beach | 4 | 7.81% | $4.52M |
| Vernon Hills | 4 | 6.13% | $13.18M |
| Gurnee | 3 | 7.00% | $4.07M |
| Waukegan | 3 | 6.00% | $2.58M |
| Lake Zurich | 2 | 6.40% | $4.78M |
| Antioch | 1 | n/a | $1.89M |
| Beach Park | 1 | n/a | $3.87M |
| Buffalo Grove | 1 | n/a | $3.40M |
| Kildeer | 1 | n/a | $7.21M |
| Lake Forest | 1 | n/a | $6.39M |
| Libertyville | 1 | n/a | $0.59M |
| Lincolnshire | 1 | n/a | $6.90M |
| Zion | 1 | n/a | $2.52M |
Towns as named in each listing (all 13).
Lake County Economy at a Glance
| Measure | Value | Period | Source |
|---|---|---|---|
| Resident population | 719,339 (+0.8% since 2020) | 2025 | FRED ILLAKE7POP, U.S. Census Bureau |
| Unemployment rate (not seasonally adjusted) | 3.6% | September 2026 | FRED ILLAKE7URN, U.S. Bureau of Labor Statistics |
| Per capita personal income | $103,546 | 2024 | FRED PCPI17097, U.S. Bureau of Economic Analysis |
Latest published figures from FRED, Federal Reserve Bank of St. Louis, with the original publisher named. Each figure shows its own period and refreshes automatically when a new period is published.
NNN Properties in Counties Bordering Lake County
- NNN properties for sale in Cook County, Illinois (101 listings)
- NNN properties for sale in McHenry County, Illinois (6 listings)
- Kenosha County, Wisconsin (1 listing; see the Wisconsin page)
Counties that share a land border with Lake County, by observed listings with a confirmed county. Counties without their own page yet are listed for reference.
How These Figures Are Calculated
Figures cover single-tenant net lease properties observed for sale in Lake County, Illinois across publicly marketed offerings and broker materials, and refresh automatically with each Investment Grade Research update. Each listing is placed in its county from its mapped location using U.S. Census Bureau county boundaries and, where possible, confirmed against its street address through the Census Bureau geocoder or the county named in the listing; a listing whose county cannot be confirmed is left off this page but stays on the Illinois page. A listing counts while it is actively marketed; listings marked under contract, pending, on hold or closed are excluded, as are listings priced under $150,000. Medians use published asking prices and published cap rates; listings without a published cap rate are left out of cap rate figures. These figures describe what sellers are asking, not closed sale prices, and an auction listing may show its starting bid as the asking price. The Illinois and national comparisons use the same rules. Tenant credit uses verified ratings in the Investment Grade ratings database.
Frequently Asked Questions: NNN Properties For Sale in Lake County
How many NNN properties are for sale in Lake County, Illinois?
As of November 9, 2026, 24 single-tenant net lease properties are observed for sale in Lake County across 21 tenants and 13 towns. The count updates automatically as listings are added and withdrawn.
What cap rates are Lake County NNN properties asking?
The median asking cap rate is 6.55%, with the middle half of listings between 6.00% and 7.23%. Asking cap rates describe what sellers are asking, not closed sale prices.
How does Lake County compare with the rest of Illinois?
The Lake County median asking cap rate of 6.55% sits 36 basis points below the Illinois median of 6.91%. A county median reflects both location and which tenants are on the market, so compare a listing with its tenant’s cap rate range before reading the gap as a discount or a premium.
Which tenants have the most Lake County NNN listings?
The tenants with the most observed listings are Walgreens (3) and Dutch Bros (2), then 19 other tenants with 1 listing each.
Which towns in Lake County have the most NNN listings?
The towns with the most observed listings are Round Lake Beach (4), Vernon Hills (4), Gurnee (3) and Waukegan (3). Tap a town in the town table to filter the listing browser.
More NNN Markets
- NNN properties for sale in Illinois, with Illinois transfer and property tax notes
- All NNN properties for sale by tenant
- 1031 exchange rules and replacement property strategy
- What a cap rate is and how to read one
Buying With 1031 Exchange Proceeds?
Compare this inventory with all 7,398 NNN properties observed for sale nationally on the 1031 exchange properties page, sorted by price band, tenant credit, remaining lease term and state. Then check your 1031 exchange deadlines: 45 days to identify replacement property and 180 days to close, or your tax return due date (including extensions) if that comes first (IRC 1031(a)(3); Treas. Reg. 1.1031(k)-1(b)(2)). General information, not tax or legal advice.
