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    1040 S Milwaukee Ave Wheeling, IL 60090

    Sponsored
    For Sale
    $1,895,000

    COMMERCIAL - Wheeling, IL

    Type:Office
    Lot size:
    0.93 Acres
    Days on Market:
    74
    Last Refresh:
    Jan 5 at 2:06 pm

    Property Features for 1040 S Milwaukee Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    INDUS
    APN
    03132000160000
    Lot size
    0.93 Acres

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1967
    Floors in Building
    3
    Number of units
    23
    Flooring type
    Carpet, Tile, Wood
    Building materials
    Brick, Concrete

    Core Realty and Investments, Inc (224) 235-4336 [email protected]

    Listing agent Ross Vasiliev (847) 409-6336

    Listing date Oct 24, 2025

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wheeling Office/Retail Investment Opportunity

    This two-story office/retail building, constructed in 1967, is located on Milwaukee Avenue in Wheeling, IL. Situated on a 0.93-acre lot, the property features 23 private suites ranging in size from 300 to 2700 square feet. The suites have private entrances, reception areas, two to three offices, and closets. Select suites also include storage, washrooms, kitchens, and conference rooms. The building is equipped with an elevator, bathrooms on each floor, and central air conditioning. There are 60 parking spots available, which generate additional income. The property is located near Willow Road and I-294, and is next to Chicago Executive Palwaukee Airport. The building is suitable for medical or dental practices, attorneys, CPAs, real estate agencies, and contractors. Currently, only three units are vacant, indicating a high occupancy rate. The property offers road exposure and is ready for a new owner.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VDA Capital Group, ... Financial Institution Artech Dental Studio Dentist GB Bodywork Acupuncturist Gutwin Window & Gutter ... Window Cleaning Service Dragon Therapies Acupuncture Clinic

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Auto Repair Shop Clothing Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wheeling
    County
    Cook
    State
    Illinois
    Longitude
    -87.896821
    Latitude
    42.1202408

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    FAQs

    What type of property is this?
    Office building - Two-story office/retail building with high occupancy and income potential.
    Where is this office building located?
    The property is located at 1040 S Milwaukee Ave Wheeling, IL.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: - High occupancy rate with only 3 vacant units, indicating strong income potential.; - Prime location on busy Milwaukee Rd, near Willow Rd and I-294, offering excellent accessibility.; - 23 private suites with varied configurations (300-2700 sq ft) suitable for diverse businesses.
    (847) 409-6336
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1040 S Milwaukee Ave Wheeling, IL 60090
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