Freestanding Commercial Building on
8136 N Milwaukee Avenue, Niles, IL 60714
COMMERCIAL - Niles, IL
Type:Retail
Property size:
2,800 SFLot size:
0.07 AcresPrice / SF:
$188/SF- Added:
- Feb 26, 2026
- Days on Market:
- 96
- Last Refresh:
- Jun 2 at 5:06 pm
Property Features for 8136 N Milwaukee Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- COMMR
- Standard status
- Active
- APN
- 09243150080000
- Size
- 2,800 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 21943
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1976
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Wood, Tile
- Building materials
- Brick
Listing agent Andrzej Olszowka License #475160900 (773) 792-3000
Listing office Troy Realty Ltd 6625 N Avondale Ave, Chicago, IL (773) 792-3000
Listing date Feb 26, 2026
MLS# 12576734
Copyright © 2026 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.
HighLights
- High‑visibility location on Milwaukee Avenue with 27,000 vehicles per day.
- Freestanding 2,800 SF commercial building with approximately 8 on‑site parking spaces.
- Flexible layout suitable for retail, service, showroom, medical, or professional office use.
- Brick construction with strong street presence.
- Month‑to‑month occupancy provides flexible delivery options.
- Seller open to discussing various sale structures including potential lease‑back options.
Overview
This highly visible freestanding commercial building is located on Milwaukee Avenue, near the Oakton Street commercial corridor. The building offers approximately 2,800 square feet of space on a wide lot, with approximately 8 on-site parking spaces. Milwaukee Avenue provides strong exposure, with approximately 27,000 vehicles passing by each day. The property presents an excellent opportunity for various business uses, including retail, service, showroom, medical, professional office, or destination businesses, subject to zoning and municipal approval. Constructed of brick, the building has a strong street presence and convenient customer parking. The current configuration is professional office space, featuring multiple private rooms, a conference area, a kitchen, and restrooms. The flexible layout allows for reconfiguration to suit retail or service-oriented businesses. The current month-to-month occupancy provides flexible delivery options. The seller is open to discussing various sale structures, including potential lease-back options.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.5k | $21.60 |
| − Vacancy | −$5.0k | −$1.77 |
| EGI | $55.5k | $19.83 |
| − OpEx | −$16.7k | −$5.95 |
| NOI | $38.9k | $13.88 |
2,800 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 7.35%
Second Best
Office B
$551.5K
$482.6K – $643.5K
NOI $38,607 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$966.7K
$845.9K – $1.13M
NOI $67,670 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Niles
- County
- Cook
- State
- Illinois
- Longitude
- -87.816937
- Latitude
- 42.0288373
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Highly visible commercial building suitable for retail or office use.
Where is this retail space located?
The property is located at 8136 N Milwaukee Avenue Niles, IL.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: High‑visibility location on Milwaukee Avenue with 27,000 vehicles per day.; Freestanding 2,800 SF commercial building with approximately 8 on‑site parking spaces.; Flexible layout suitable for retail, service, showroom, medical, or professional office use.
