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Listing provided courtesy of Core Realty & Investments, IncMREDas Distributed by MLSGrid- MLS# 12190640MLS Provider

1040 S MILWAUKEE AvenueWheeling, IL 60090

Commercial · 26,000 Sq. ft.
$1,895,000 Active

1040 S MILWAUKEE Avenue Overview

Time on Site:
620 days
Visits:
3

Armchair investment opportunity! Prime office/retail 2 -story building for sale on busy Milwaukee rd.21! Build in 1967, good condition! Perfect regional location, only 5 minutes off Willow rd. and I-294.next to Chicago Executive Palwaukee airport! 23 Private suites with variety of sizes and configuration from 300 SQ FT to 2700 SQ FT.! 60 parking spots generated extra income! High occupancy rate, only 3 units currently vacant! ALL units have private entrances, reception area 2-3 offices, closets. Some has storage, washroom, kitchen and conference room. Ideal for variety business: medical/dental, attorney, CPA, Real Estate, contractors. Building has elevator, bathrooms on each floor, central air and plenty of parking spaces. Great road exposure!!! Ready for new owner!

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1040 S MILWAUKEE Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 26,000
  • Price/Sq.ft. $73

Details

General

Income/Expenses

  • Existing Lease Type: Net
  • Gross Income: 20275
  • Gross Scheduled Income: 243300
  • Net Operating Income: 105638
  • Operating Expense: 137662

Building Information

  • Year Built: 1967

Business Information

  • Current Use: Commercial

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: Wheeling
  • Township: Wheeling

Rent/Lease Information

  • Tenant Pays: Air Conditioning, Electricity, Heat, Insurance

Tax Information

  • Tax Annual Amount: $98,549.00
  • Tax Year: 2022

General Information

  • Parcel Number: 03132000160000
  • Possible Use: Commercial,Office,Retail
  • Property Sub Type: Other
  • Property Type: Commercial Sale
  • Zoning: INDUS

Interior

Building Interior

  • Building Area Total: 26000

General Information

  • Cooling: Central Air
  • Electric: Separate Meters, Other
  • Flooring: Carpet, Tile, Wood
  • Foundation Details: Concrete Perimeter
  • Leasable Area: 2600
  • Stories: 3

Unit Information

  • Unit SqFt.: 0

Exterior

Lot Information

  • Additional Parcels: Yes
  • Frontage Type: City Street,Frontage Road,State Road
  • Lot Size Dimensions: 201X200
  • Lot Size Square Feet: 40300

Building Exterior/Construction

  • Construction Materials: Brick, Concrete

General Information

  • Number Of Units Total: 23
  • Utilities: Electric to Site,Natural Gas Available,Water Available

1040 S MILWAUKEE Avenue Neighborhood

Community

60090 (Wheeling) Demographics

38
Median Age
4,103
Population Density (per sq. mile)
47%
College Educated
$71,966
Estimated Median Income
9,269
Estimated Total Home Owners
5,879
Estimated Total Renters
61% / 39%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1040 S MILWAUKEE Avenue Monthly Cost

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Eric Nowik
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1040 S MILWAUKEE Avenue Market Data

Based on the last 30 days in this zip code

$351,640
Average List Price
$292
Average Price per Square Foot
43
Properties Sold
63
Average Days on Market
85
Properties for Sale
Calculations provided by Reliance Network

1040 S MILWAUKEE Avenue History

Date Event Value Agent
5/9/2025Source: MRED Status Change
Active
5/4/2025Source: MRED Price Reduction
$1,895,000 -4.1%
5/4/2025Source: MRED Status Change
Price Change
10/21/2024Source: MRED Status Change
Active
10/17/2024Source: MRED Added to Database
October 17, 2024