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    Prospect Heights, IL

    Prospect Heights, IL Commercial Real Estate for Sale

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    Mount Prospect, IL Arlington Heights, IL Buffalo Grove, IL
    22 properties
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    Mixed-Use Property on Milwaukee Avenue
    Updated: Aug 4, 2020
    Mixed-Use Property on Milwaukee Avenue

    231 N Milwaukee Ave, Wheeling, IL 60090

    $429,000
    1,648 sqft
    High‑traffic location: Over 30,000 daily traffic count on N Milwaukee Ave.
    Large lot size: 13,000 sq ft with 100‑foot frontage on N Milwaukee Ave.
    Flexible zoning: Zoned B‑3, allowing for commercial, office, and mixed residential use.
    Ample parking: Room to park 20 cars.
    Excellent visibility: Located in a choice location on N Milwaukee Ave.
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    This listing looks promising.

    Here's a quick look at some key insights for

    231 N Milwaukee Ave, Wheeling, IL 60090

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    • Est. Cap Rate

      6.5%
      Above avg (5.9%)

    • Est. NOI

      $28K
      Annual

    • Price @ 7% Cap

      $397K
      Suggested

    • Property Type

      Miscellaneous (Residential)
      Built 1971
    View Property Analytics
    Iconic Restaurant & Real Estate Opportunity
    Updated: Oct 28, 2025
    Iconic Restaurant & Real Estate Opportunity

    260 S Milwaukee Avenue, Wheeling, IL 60090

    $799,900
    3,255 sqft · 0.73 AC lot
    Profitable Landmark Business: Established bakery & deli (Chicago Bagel & Bialy) with over 43 years of operation and over $1 million in gross sales in 2024.
    Prime Real Estate: Located on Wheeling's Restaurant Row with high traffic and excellent visibility.
    Fully Equipped Restaurant: State‑of‑the‑art kitchen with Middleby Marshall rotating oven, walk‑in coolers/freezer, and all necessary fixtures for immediate operation.
    Spacious and Versatile: 3255 sq. ft. building on a 32,000 sq. ft. lot with indoor and outdoor dining, 30 parking spaces, and potential for drive‑thru addition.
    Expansion Opportunities: Potential to acquire an adjacent 1/4‑acre parcel from the Village of Wheeling for further growth.
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    Two-Story Office/Retail Building For Sale
    Two-Story Office/Retail Building For Sale

    1040 S MILWAUKEE Avenue, Wheeling, IL 60090

    $1,895,000
    26,000 sqft

    Two-story office/retail building with high occupancy and parking.

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    Wheeling Commercial Property For Sale
    Wheeling Commercial Property For Sale

    1040 S MILWAUKEE Avenue, Wheeling, IL 60090

    $1,895,000
    0.93 AC lot

    Commercial property in Wheeling, Illinois available for purchase.

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    Industrial Land on Wheeling Road
    Industrial Land on Wheeling Road

    1033 S Wheeling Road, Wheeling, IL 60090

    $750,000
    0.98 AC lot

    Nearly one acre of industrial land with frontage on Wheeling Road.

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    Wheeling Industrial Redevelopment Opportunity
    Wheeling Industrial Redevelopment Opportunity

    8 E Palatine Rd, Wheeling, IL

    Contact for pricing
    62,757 sqft · 2.98 AC lot

    Industrial property suitable for corporate headquarters or training facility.

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    Prime Land in Wheeling, Illinois
    Prime Land in Wheeling, Illinois

    625 West Dundee Road, Wheeling, IL 60090

    Contact for pricing
    3.20 AC lot

    3.2 acres of divisible land with high visibility.

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    High Traffic Restaurant with Gaming
    High Traffic Restaurant with Gaming

    241 S Milwaukee Avenue, Wheeling, IL 60090

    $2,149,000
    12,000 sqft

    Restaurant with gaming in high-traffic location for sale.

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    Prime Retail Space For Sale
    Prime Retail Space For Sale

    1041-1081 E Lake Cook Rd, Wheeling, IL

    $99,000
    1,800 sqft · 3.15 AC lot

    1,800 SF retail space with high visibility, near Starbucks.

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    Prime Location Automotive Hub
    Prime Location Automotive Hub

    851 E Palatine Rd, Wheeling, IL

    Contact for pricing
    7,968 sqft · 0.43 AC lot

    Strategic location with high traffic and convenience near I-294.

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    Wheeling Industrial Warehouse For Sale
    Wheeling Industrial Warehouse For Sale

    1033 Noel Ave, Wheeling, IL

    $5,325,000
    96,959 sqft · 5.13 AC lot

    96,959 SF industrial warehouse with heavy power and truck docks.

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    Free-Standing Industrial Facility
    Free-Standing Industrial Facility

    280 Camp McDonald Rd, Wheeling, IL 60090

    Contact for pricing
    14,508 sqft

    Well-maintained standalone building suited for manufacturing or distribution operations.

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    Movie Theater with In-Seat Dining
    Movie Theater with In-Seat Dining

    401 W. Dundee Rd., Wheeling, IL 60090

    Contact for pricing
    36,880 sqft

    Premier dine-in theater with seven screens and in-seat dining, positioned within a mixed-use downtown development.

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    Wheeling Office/Medical Building For Sale
    Wheeling Office/Medical Building For Sale

    47 W Dundee Rd, Wheeling, IL 60090

    $1,100,000
    8,800 sqft · 0.67 AC lot

    Two-story office building with move-in ready medical space.

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    Wheeling Office/Flex Building For Sale
    Wheeling Office/Flex Building For Sale

    1400 S Wolf Rd, Wheeling, IL 60090

    Contact for pricing
    43,269 sqft

    Class B single-story office/flex building available for purchase.

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    Wheeling Industrial Property For Sale
    Wheeling Industrial Property For Sale

    953 Seton Ct, Wheeling, IL

    Contact for pricing
    20,206 sqft · 1.09 AC lot

    Single tenant building with gated, fenced parking. Near I-294.

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    Wheeling Office Space For Sale
    Wheeling Office Space For Sale

    3125 N Wilke Rd, Wheeling, IL

    $137,655
    1,956 sqft · 14.13 AC lot

    Office space available for purchase in Wheeling, Illinois.

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    Wheeling Industrial Building For Sale
    Wheeling Industrial Building For Sale

    1033 Noel Ave, Wheeling, IL 60090

    $5,325,000
    96,959 sqft · 5.12 AC lot

    96,959 SF industrial building in Wheeling, Illinois available for sale.

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    Wheeling Industrial Building For Sale
    Wheeling Industrial Building For Sale

    1033 S Noel Avenue, Wheeling, IL 60090

    $5,325,000
    96,959 sqft · 5.12 AC lot

    96,959 SF industrial building in Wheeling, Illinois available for sale.

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    Free Standing Flex Building
    Free Standing Flex Building

    250 Chaddick Dr, Wheeling, IL 60090

    $1,749,000
    15,695 sqft

    15,695 SF flex building with office space for sale.

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    Wheeling Mixed-Use Development Land
    Wheeling Mixed-Use Development Land

    Lake Cook Rd, Wheeling, IL

    Contact for pricing
    17.00 AC lot

    17-acre mixed-use land with highway access and utilities.

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    Redevelopment Land Near Wheeling Station
    Redevelopment Land Near Wheeling Station

    129 S Railroad Ave, Wheeling, IL

    Contact for pricing
    6.46 AC lot

    6.6-acre redevelopment opportunity near Wheeling Train Station and Town Center.

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    Based on your search, we've compiled Potential Opportunities for your consideration. Besides 22 Active Listings in Prospect Heights, IL, we suggest to view alternatives - similar 50 Off-Market properties to explore as potential leads.

    Off-Market Properties in Prospect Heights, IL

    Consider similar Off-Market properties in Prospect Heights, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    600 Milwaukee Ave
    MOTEL

    600 Milwaukee Ave, Prospect Heights, IL 60070-2376

    $3,765,000
    Estimated value
    2.04 AC lot
    View details
    1201 Wolf Rd
    GAS STATION

    1201 Wolf Rd, Prospect Heights, IL 60070-1754

    Value Estimation by Request
    0.58 AC lot
    View details

    Prospect Heights, IL Commercial Real Estate Market Trends and Statistics

    Explore 72 commercial real estate for sale in Prospect Heights, IL, showcased through 22 active listings on our real estate platform. These investment opportunities span a total of 362,031 square feet of properties for sale, with an estimated market value of $24,333,555.

    Sale prices for business properties in Prospect Heights, IL start at $99,000, averaging $2,212,141, and reaching up to $5,325,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 16K
    Population Growth (5Y) -3.1%
    Median Household Income $91,210
    College Educated 48.4%

    Taxes & Financing

    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Cook County

    New Delisted

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