Wheeling, IL Land for Sale

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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

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Updated: Jun 2, 2025

Industrial Land on Wheeling Road

1033 S Wheeling Road, Wheeling, IL 60090

$750,000

0.98 AC lot

Nearly one acre of industrial land (260x164 lot) with I‑1 Zoning.
260 feet of frontage on Wheeling Road.
Ideal for an Owner User looking to relocate and expand.
Includes a two‑car garage and one storage building.
Small home with full basement, suitable for rehab.

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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

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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Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center

Land Available For Sale

700 N Milwaukee Avenue, Wheeling, IL 60090

Contact for pricing

2 sqft

Two-acre land parcel available for sale or lease.

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Wheeling Mixed-Use Development Land

Lake Cook Rd, Wheeling, IL

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17.00 AC lot

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

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Redevelopment Land Near Wheeling Station

129 S Railroad Ave, Wheeling, IL

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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 27 Potential Opportunities for your consideration. Besides 7 Active listings in Wheeling, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 15 Off-Market properties to explore as potential leads, plus 1 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Prime Land Near Lake Cook

275 Milwaukee Avenue, Buffalo Grove, IL 60089

$1,600,000

83,635 sqft

Commercial land available near Lake Cook Road and luxury apartments.

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Prime Lincolnshire Commercial Land Parcel

220 Olde Half Day Rd, Lincolnshire, IL

$1,190,000

4.43 AC lot

Exceptional investment opportunity in Lincolnshire's thriving commercial landscape.

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Land with Expressway Visibility

20 Westminster Way, Lincolnshire, IL

Contact for pricing

1.43 AC lot

Land suitable for hotel or multi-family development.

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Prime Commercial Land Opportunity

1300 Milwaukee Ave, Buffalo Grove, IL

Contact for pricing

58.00 AC lot

58 acres of commercial land in Chicago's northern suburbs.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

68 Acres Tillable Land For Sale

Saint Johns, MI 48879

$499,000

68.30 AC lot

68 acres of tillable land suitable for multiple uses.

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Off-Market Properties in Wheeling, IL

Consider similar Off-Market properties in Wheeling, 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.

VACANT COMMERCIAL LAND

971 Milwaukee Ave, Wheeling, IL 60090-1893

Value Estimation by Request

0.27 AC lot

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Multifamily properties

2814 Hintz Rd, Wheeling, IL 60004

Value Estimation by Request

5.05 AC lot

View details

Land

625 Dundee Rd, Wheeling, IL 60090

Value Estimation by Request

3.20 AC lot

View details

Land

0 Lk Cook Rd & Milwaukee Ave, Wheeling, IL 60090

Value Estimation by Request

1 sqft · 17.00 AC lot

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Land

751 Milwaukee Ave, Wheeling, IL 60090

Value Estimation by Request

10,000 sqft

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Land

2840-2844 Hintz Rd, Wheeling, IL 60090

Value Estimation by Request

1.92 AC lot

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Land

1001 Oak Ave, Prospect Heights, IL 60070

Value Estimation by Request

5.30 AC lot

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VACANT COMMERCIAL LAND

971 Milwaukee Ave, Wheeling, IL 60090-1893

Value Estimation by Request

0.53 AC lot

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VACANT COMMERCIAL LAND

Lk Cook Rd, Wheeling, IL 60090

Value Estimation by Request

0.01 AC lot

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VACANT COMMERCIAL LAND

1455 Lk Cook Rd, Wheeling, IL 60090-2247

Value Estimation by Request

0.58 AC lot

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VACANT COMMERCIAL LAND

Lk Cook Rd, Wheeling, IL 60090

Value Estimation by Request

0.02 AC lot

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VACANT COMMERCIAL LAND

Weiland Rd, Wheeling, IL 60090

Value Estimation by Request

0.02 AC lot

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VACANT COMMERCIAL LAND

Weiland Rd, Wheeling, IL 60090

Value Estimation by Request

0.11 AC lot

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VACANT COMMERCIAL LAND

Weiland Rd, Wheeling, IL 60090

Value Estimation by Request

0.15 AC lot

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VACANT COMMERCIAL LAND

Armstrong Dr, Wheeling, IL 60090

Value Estimation by Request

0.35 AC lot

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Wheeling, IL Land Market Trends and Statistics

Explore 22 land for sale in Wheeling, IL, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 13,648 square feet of properties for sale, with an estimated market value of $2,578,000.

Sale prices for lots in Wheeling, IL start at $429,000, averaging $1,289,000, and reaching up to $2,149,000 — 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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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 38K

Population Growth (5Y) -0.4%

Median Household Income $83,449

College Educated 54.0%

High-Yield Neighborhoods for Investment

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

Neighborhood	Average Price
60090	$1.1M

Taxes & Financing

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Cook County

New Delisted

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Wheeling, IL Land for Sale

231 N Milwaukee Ave, Wheeling, IL 60090

1033 S Wheeling Road, Wheeling, IL 60090

625 West Dundee Road, Wheeling, IL 60090

241 S Milwaukee Avenue, Wheeling, IL 60090

700 N Milwaukee Avenue, Wheeling, IL 60090

Lake Cook Rd, Wheeling, IL

129 S Railroad Ave, Wheeling, IL

Opportunities in Nearby Cities

275 Milwaukee Avenue, Buffalo Grove, IL 60089

220 Olde Half Day Rd, Lincolnshire, IL

20 Westminster Way, Lincolnshire, IL

1300 Milwaukee Ave, Buffalo Grove, IL

Potential Development Sites for Consideration

Saint Johns, MI 48879

Off-Market Properties in Wheeling, IL

971 Milwaukee Ave, Wheeling, IL 60090-1893

2814 Hintz Rd, Wheeling, IL 60004

625 Dundee Rd, Wheeling, IL 60090

0 Lk Cook Rd & Milwaukee Ave, Wheeling, IL 60090

751 Milwaukee Ave, Wheeling, IL 60090

2840-2844 Hintz Rd, Wheeling, IL 60090

1001 Oak Ave, Prospect Heights, IL 60070

971 Milwaukee Ave, Wheeling, IL 60090-1893

Lk Cook Rd, Wheeling, IL 60090

1455 Lk Cook Rd, Wheeling, IL 60090-2247

Lk Cook Rd, Wheeling, IL 60090

Weiland Rd, Wheeling, IL 60090

Weiland Rd, Wheeling, IL 60090

Weiland Rd, Wheeling, IL 60090

Armstrong Dr, Wheeling, IL 60090

Wheeling, IL Land Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

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