Prospect Heights, IL Commercial Real Estate for Sale

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Updated: Oct 28, 2025

Free-Standing Restaurant with Outdoor Seating

260 S Milwaukee Avenue, Wheeling, IL 60090

$799,900

3,255 sqft 0.73 AC lot

Freestanding restaurant on a 32,000 sq. ft. (approx. 3/4 acre) parcel with a 3,255 sq. ft. building
Indoor dining for 40+ guests plus outdoor seating for an additional 40+ clients
30 parking spaces and a two‑car attached garage
Fully equipped commercial kitchen: 30‑pan Middleby Marshall rotating oven with six shelves
Two walk‑in coolers, walk‑in freezer, and retail display cases plus refrigeration units

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260 S Milwaukee Avenue, Wheeling, IL 60090

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Est. Cap Rate

6.8%
Above avg (5.9%)
Est. NOI

$54K
Annual
Price @ 7% Cap

$778K
Suggested
Last Sold

Jun 1999
$100K
Property Type

Retail Stores
Built 1999

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Updated: Oct 28, 2025

Free-Standing Restaurant with Outdoor Seating

260 S Milwaukee Avenue, Wheeling, IL 60090

$799,900

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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Industrial Land with 260-Foot Frontage

1033 S Wheeling Road, Wheeling, IL 60090

$750,000

0.98 AC lot

Nearly one acre of INDUS-zoned industrial land on a 260x164 lot, with an on-site home needing rehab.

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Zoned Industrial Office Property

1040 S MILWAUKEE Avenue, Wheeling, IL 60090

$1,895,000

0.93 AC lot

For sale office property on a 0.9252-acre lot in INDUS zoning.

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Two-Building Office Complex

1400 S Wolf Road, Wheeling, IL 60090

$7,500,000

116,226 sqft 8.08 AC lot

Two connected office buildings totaling 22 units offer a 70% occupied leasing profile.

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Fully Furnished Office Building

1400 S Wolf Rd, Wheeling, IL 60090

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43,269 sqft

Fully furnished office building owned by a charitable organization, positioned for convenient access via I-294 and Route 53.

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Flex Industrial Building with Drive-Ins

1030 S Milwaukee Ave, Wheeling, IL 60090

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11,000 sqft

11,000 SF flex building operates as an automotive repair shop with four drive-in doors and 12.5’ clear ceilings.

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Strip Shopping Center Property

55 South Wolf Road, Prospect Heights, IL 60070

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27,123 sqft

Ascot Shopping Center is a 27,123 SF retail shopping center available through an online auction event.

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Multi-Building Retail and Office Center

604 S Milwaukee Ave, Wheeling, IL 60090

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113,801 sqft

Stabilized, multi-tenant retail center with approximately 10,550 SF of second-floor office space across three buildings.

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Free-Standing Industrial Facility

280 Camp McDonald Rd, Wheeling, IL 60090

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14,508 sqft

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

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Multi-Tenant Retail Center on Milwaukee

701-749 N Milwaukee Ave, Wheeling, IL 60090

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14,061 sqft 1.36 AC lot

92% leased retail center with 265 feet of frontage along North Milwaukee Avenue at a Lake Cook Road intersection.

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Automotive Service Facility

1030 S Milwaukee Avenue, Wheeling, IL 60090

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11,000 sqft 2.64 AC lot

Vacant masonry facility with office, service, parking, signage, and direct street access.

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Wheeling Industrial Space For Lease

200-222 Marquardt Drive, Wheeling, IL 60090

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30,000 sqft 1.63 AC lot

10,000 SF industrial space available near Chicago Executive Airport.

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Sports Bar and Dance Venue

698 North Milwaukee Avenue, Prospect Heights, IL 60070

$1,500,000

Established sports bar/dance venue with 365 seats, including 50-seat patio, and 4AM daily liquor license.

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High Traffic Restaurant with Gaming

241 S Milwaukee Avenue, Wheeling, IL 60090

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12,000 sqft

Restaurant with gaming in high-traffic location for sale.

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Industrial Condo with Office

535 Wolf Rd, Wheeling, IL 60090

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3,200 sqft

Industrial condo includes newly remodeled office, 14’ warehouse ceilings, two drive-in doors, and skylights.

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Warehouse Flex Space

318 N. Milwaukee Ave., Wheeling, IL 60090

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5,412 sqft

Flex space suitable for a variety of showroom and service retail uses, including home improvement and equipment sales.

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Hotel-Front Retail Center

701 N Milwaukee Ave, Wheeling, IL 60090

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1,050 sqft

Shopping center positioned in front of the Westin Hotel with excellent visibility and ample parking.

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Movie Theater with In-Seat Dining

401 W. Dundee Rd., Wheeling, IL 60090

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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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Multi-Tenant Flex Industrial Building

600 Northgate Parkway, Wheeling, IL 60090

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31,726 sqft 1.99 AC lot

Multi-tenant flex/industrial property with 11 units, one shared exterior loading dock, and multiple grade-level truck doors.

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Flex Space with Training Facilities

100 E Palatine Rd, Wheeling, IL 60090

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62,757 sqft

Industrial flex property includes multiple training rooms, a fully equipped cafeteria, and multi-media throughout.

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Industrial Warehouse with Bridge Crane

900 Chaddick Dr, Wheeling, IL 60090

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75,902 sqft

Industrial warehouse includes a 10-ton bridge crane, three one-ton jib cranes, and bus ducts throughout.

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Industrial Land with Storage Building

307 Industrial Lane, Wheeling, IL 60090

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1,800 sqft 0.42 AC lot

Industrial parcel includes a 1,800 SF building with two drive-in bays and fenced outdoor space with ingress/egress on Industrial Lane.

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Multi-Tenant Retail Center

119-145 N Milwaukee Avenue, Wheeling, IL 60090

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16,355 sqft

Newer 2004 multi-tenant retail center is 91% occupied and features pylon signage along Milwaukee Avenue.

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Prospect Heights, IL Commercial Real Estate Market Trends and Statistics

Explore 72 commercial real estate for sale in Prospect Heights, IL, showcased through 44 active listings on our real estate platform. These investment opportunities span a total of 921,971 square feet of properties for sale, with an estimated market value of $19,108,800.

Sale prices for business properties in Prospect Heights, IL start at $539,000, averaging $2,388,600, and reaching up to $7,500,000 — 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%

High-Yield Neighborhoods for Investment

Identify Prospect Heights submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
60070	$1.5M

Taxes & Financing

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Cook County

New Delisted

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