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    1040 S Milwaukee Ave Wheeling, IL 60090

    For Lease
    $14 SF/Yr

    Commercial Lease - Wheeling, IL

    Days on Market:
    42
    Last Refresh:
    Dec 13 at 8:06 pm

    Property Features for 1040 S Milwaukee Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    INDUS

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1967
    Number of units
    4
    Flooring type
    Carpet, Tile, Wood
    Architectural style
    Other

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

    Listing agent Ross Vasiliev (224) 235-4336 License #471018754

    Listing date Nov 2, 2025

    MLS# 12509405 Listing URL

    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 Spaces for Lease

    Located on Milwaukee Road in Wheeling, Illinois, these office and retail spaces are available for lease. The location offers regional accessibility, situated approximately 5 minutes from Willow Road and I-294. There are four private suites available, ranging in size from 300 to 700 square feet, ready for immediate occupancy. Each unit features a private entrance and a reception area, along with two to three offices and closets. Select units also include storage space, a washroom, a kitchen, and a conference room. The spaces are suitable for various businesses, including medical or dental practices, attorneys, CPAs, real estate agencies, and contractors. The building is equipped with an elevator, bathrooms on each floor, and central air conditioning. Parking spaces are available. The rental fee, ranging from $350 to $800 depending on the unit size, covers taxes, water, and maintenance. Tenants are responsible for electricity and internet utilities. The property benefits from road exposure.
    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

    Nearby Similar for Lease

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    FAQs

    What type of property is this?
    Office space - Prime office and retail spaces available for lease in Wheeling.
    Where is this office space located?
    The property is located at 1040 S Milwaukee Ave Wheeling, IL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Prime location on busy Milwaukee Rd., just 5 minutes from Willow Rd. and I-294.; - Variety of suite sizes (300-700 sq ft) available with immediate occupancy.; - All units feature private entrances, reception area, 2-3 offices, and closets.
    (224) 235-4336
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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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