Freestanding Mixed-Use Commercial
8136 N Milwaukee Avenue Niles, IL 60714
8136 N Milwaukee Avenue, Niles, IL, 60714
$529,000
For Sale
$529,000
COMMERCIAL - Niles, IL
Property Size2,800 SF
Lot Size0.07 Acres
Price / SF$188.93
Days on Market142
Property Features for 8136 N Milwaukee Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- COMMR
- Standard status
- Active
- APN
- 09243150080000
- 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
- Tile, Wood
- Building materials
- Brick
Listing Agency
Troy Realty Ltd
(773) 792-3000
6625 N Avondale Ave, Chicago, IL
Listed by
Andrzej Olszowka · License #475160900
(773) 792-3000
Added: Feb 26 Checked: Jul 18 at 8:06 am
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.
Investment Insights
Based on property information with market context.
Highly visible freestanding commercial building with brick construction and strong street presence, located on Milwaukee Avenue near the Oakton Street commercial corridor. The property is situated on a wide lot with approximately 8 on-site parking spaces and offers multiple private rooms, a conference area, a kitchen, and restrooms. The layout is flexible and may support reconfiguration for retail, service, showroom, medical, professional office, or destination business use, subject to zoning and municipal approval.
The building benefits from strong exposure along Milwaukee Avenue, with approximately 27,000 vehicles per day reported in the listing.
The space is currently set up as professional office space and offers month-to-month occupancy, with showings available by appointment only.
The building benefits from strong exposure along Milwaukee Avenue, with approximately 27,000 vehicles per day reported in the listing.
The space is currently set up as professional office space and offers month-to-month occupancy, with showings available by appointment only.
Key Highlights
- Freestanding brick commercial building on Milwaukee Avenue near the Oakton Street corridor
- Approximately 2,800 SF on a wide lot with about 8 on‑site parking spaces
- High‑traffic frontage with approx. 27,000 vehicles per day along Milwaukee Avenue
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Freestanding brick building configured with private offices, conference space, kitchen, and restrooms on a wide lot with on-site parking.
Where is this office building 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: Freestanding brick commercial building on Milwaukee Avenue near the Oakton Street corridor; Approximately 2,800 SF on a wide lot with about 8 on‑site parking spaces; High‑traffic frontage with approx. 27,000 vehicles per day along Milwaukee Avenue
