550 S Milwaukee Avenue Wheeling, IL ^$ 1,849,000

550 S Milwaukee Avenue

^$ 1,849,000

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550 S Milwaukee Avenue

Wheeling, IL, 60090

^$ 1,849,000

Studio Baths0.0 Sq 7,280

Monthly Estimate*

^$ 12,289

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Studio

Commercial Property for sale in Wheeling, IL

for $1,849,000. This 7,280 square foot building was built on a lot size of 2.43469.

USE FOR A RESTAURANT OR REDEVELOP TO SUIT YOUR NEEDS! Prime location located in Wheeling's Restaurant Row. Fantastic traffic counts, approximately 7300 square feet with custom-built high-quality finishes and situated on 2.43 acres. With a large main dining area, full-service bar, main and prep kitchen plus 3 private party rooms, 3 walk-in coolers-this property checks it all for a high-quality restaurant location with fantastic traffic count exposure, being located on Milwaukee Ave. Combined with an al fresco patio and 111 parking spaces, you won't find a better opportunity in Wheeling. This property can be a redevelopment site and can be joined with another 2.4-acre site next door that is available for sale too.

Commercial Active

Price

^$ 1,849,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 157,000

Style

Food & Beverage,Distribution,Grocery,Restaurant,Re

Lot Size

2.43469

Town/City

Wheeling

County/Region

Cook

MLS | Web ID

11910086

Features

General

Cooling Central Air

Utilities Electric to Site Gas to Site Sanitary Sewer Water-Municipal

Possession Closing

Roof Membrane

Zoning COMMR

Construction Materials Concrete

Electric Over 600 Amps Three Phase

Tenant Pays Other

Stories 1

Tax Year 2021

Current Use Commercial

Business Type Food & Beverage Distribution Grocery Restaurant Retail Other

County Cook

Operating Expense 0

Property Type Business Opportunity Bus / Bus w/Real Est

Status Active

Directions North or South on Milwaukee to Location.

City Wheeling

MLS Area Wheeling

Lot Size Square Feet 106055

Waterfront Y/N N

Street Name Milwaukee

Tax Annual Amount 157000

Additional Parcels Y/N N

Days on Market 173

Standard Status Active

Exterior

Building Area Total 7280

Lot Dimensions 253 X 463 X 288 X 349

Frontage Type State Road

Interior

Street Suffix Avenue

* Excluded Features

List By

Dream Town Real Estate

Broker

yogi@dreamtown.com

Affordability Calculator

$25,372

Per Month

Monthly Principal & Interest: $12,289
Monthly Property Taxes: $13,083
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Wheeling, IL

Average List Price ^$2,551,571

Percent of Sale Price 38%

About Wheeling, IL

39,281 Population

7% Since 2002

^$61,129 Median Income

39.33 Median Age

32% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/16/2023	$1,849,000		Listed Price

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550 S Milwaukee Avenue, Wheeling, IL, 60090 is a Commercial Property for sale at $1,849,000 with 7,280 sqft and a lot size of 2.43469. 550 S Milwaukee Avenue is a studio with 0.0 baths. The property's zip code is 60090 which is in Wheeling, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Data is updated as of 6/2/2024.

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550 S Milwaukee Avenue

Commercial Property for sale in Wheeling, IL

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