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$500,000
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Property Description
**Prime Commercial Property in the Heart of Downtown Grayslake: 132 Center Street** Located in the vibrant, sought-after downtown area of Grayslake, this exceptionally well-built block building is ready for its next phase. With a long-standing history as an owner-occupied hair salon that has thrived for over 30 years, this space offers great potential for a variety of uses. This property is perfect for those looking to combine work and home life. The front retail space, spanning 1,291 square feet, provides ample room for your business, while the 1,001-square-foot residential space in the back offers an ideal living environment. Enjoy the convenience of running your business from the comfort of your own property. For investors, this building is a great revenue-generating opportunity with a strong chance for significant appreciation. Create cashflow by leasing the commercial and residential spaces together or separately. With Commercial Business zoning, this property supports a wide range of uses, making it adaptable to evolving business or development needs. There is also potential for significant expansion, including the possibility of a four-story renovation. Grayslake is a highly desirable community, conveniently located almost midway between Chicago and Milwaukee. With an above average household income, the area offers a thriving local economy and a growing population eager to support new businesses and developments. This unique property is a must-see for entrepreneurs, investors, or anyone seeking a prime location in a vibrant and growing downtown community. Don't miss your chance to secure a piece of Grayslake's future!
Full Property Details
Full Property Details for 132 Center St
General
- Price: $500,000
- Taxes: $8,013 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12218968
- Updated: 10/30/2025
- Added to Site: 448 day(s) ago
Location
- Area: Gages Lake / Grayslake / Hainesville / Third Lake
- County: Lake
- Township: Avon
- Driving Directions: IL Rte. 120 and Center Street, west on Center to address.
- Location Details: Central Business District
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air
Structural Information
- Construction: Block, Fl Brick/Stn Veneer
- Exterior Const.: Block, Fl Brick/Stn Veneer
- Foundation: Concrete Perimeter
- Drive-In Doors: 1
- Stories/Levels: 1
- Square Feet: 2,376
- Current Bldg. Use: Commercial
- Year Built: 1954
Lot Features
- Lot Size (Sq. Ft.): 3,825
- Lot Dimensions: 25.5 x 150 x 25.5 x 150
- Frontage: City Street
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Assessment Year: 1954
- Tax Amount: $8,013.5
- Tax Year: 2023
Disclosures and Reports
- Property ID: 6263100300000
Listed by Baird & Warner and Baird & Warner Fox Valley - Geneva
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Schools
Schools serving 132 Center St
School Districts:Grayslake Community High School District 127, Grayslake Consolidated Community School District 46
| Name | Grades | Distance |
|---|---|---|
Woodview School 340 North Alleghany Road, Grayslake, IL 60030 | K-4 | 0.7 mi |
Frederick School 595 Frederick Road, Grayslake, IL 60030 | 5-6 | 0.8 mi |
Grayslake Middle School 440 Barron Boulevard, Grayslake, IL 60030 | 7-8 | 0.5 mi |
Grayslake Central High School 400 North Lake Street, Grayslake, IL 60030 | 9-12 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 132 Center St
Date
Details
Price
Change
Source
10/24/2025
Price Reduced
$500,000
-9.09%
MLS
7/16/2025
Price Reduced
$550,000
-8.32%
MLS
5/05/2025
Price Reduced
$599,900
-4.02%
MLS
3/12/2025
Price Reduced
$625,000
-3.85%
MLS
12/01/2024
Listed
$650,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 132 Center St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,014
4%
$74,264
9%
2023
$7,710
1%
$68,157
6%
2022
$7,641
—
$64,309
4%
2021
$7,667
3%
$61,812
5%
2020
$7,418
—
$58,813
4%
2019
$7,421
-1%
$56,426
-1%
2018
$7,526
1%
$57,264
6%
2017
$7,481
4%
$53,865
8%
2016
$7,228
2%
$49,723
9%
2015
$7,104
-1%
$45,426
—
2014
$7,187
3%
$45,426
2%
2013
$6,957
2%
$44,490
-11%
2012
$6,788
—
$50,139
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 132 Center St
132 Center Street, Grayslake, IL 60030 (MLS# 12218968) is a Commercial property. 132 Center Street is currently listed for $500,000 and was received on December 01, 2024. Want to learn more about 132 Center Street? Do you have questions about finding other Commercial real estate for sale in Grayslake? You can browse all Grayslake real estate or contact a Coldwell Banker agent to request more information.

