As of 2018, Waukegan is the 67th busiest of Metra's 236 non-downtown stations, with an average of 764 weekday boardings.

The station not only contains storage tracks for Metra trains,[3] but is also located near freight lines for the Union Pacific Railroad as well as the former Elgin, Joliet and Eastern Railway.

In addition, the station serves as a stop for the Great Lakes Naval Training Center.

Located at the bottom of the bluff that overlooks Lake Michigan, the station is immediately downhill from the historic Carnegie Library building.

Buses connect the station to attractions further inland, such as Six Flags Great America in Gurnee.