Mixed-Use Building with Retail &
1136 North Milwaukee Avenue Chicago, IL 60642
1136 North Milwaukee Avenue, Chicago, IL, 60642
$1,499,900
For Sale
$1,499,900
Well-kept building includes a spacious commercial area, four upstairs residential units, and an additional garage unit.
Property Size3,082 SF
Price / SF$486.66
Days on Market116
Property Features for 1136 North Milwaukee Avenue
General Information
- Standard status
- Active
- Size
- 3,082 SF
Building Details
- Year Built
- 1900
Listing agency
eXp Realty
(312) 888-9395
Listed by
Ryan Casper · License #475121977
(312) 888-9395
Source
Compass
Added: Mar 30 Updated: Jul 22 at 10:24PM Checked: Jul 22 at 10:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This well-kept mixed-use building features a spacious commercial area with soaring ceilings on the ground level. Above, there are four residential units, each described as having high ceilings, along with an additional garage unit. The property is positioned for multiple uses, whether maintained as a multi-unit rental building with retail income or reconfigured to suit an owner-occupier’s plans.
Located on North Milwaukee Avenue in the East Wicker Park/West Town corridor near Division, the building is described as being just steps from the Blue Line. The property is zoned B3-2 and offers easy access to the expressway and downtown.
A proven rental history is noted, providing immediate stability while allowing room for updates to improve returns.
Located on North Milwaukee Avenue in the East Wicker Park/West Town corridor near Division, the building is described as being just steps from the Blue Line. The property is zoned B3-2 and offers easy access to the expressway and downtown.
A proven rental history is noted, providing immediate stability while allowing room for updates to improve returns.
Key Highlights
- Mixed‑use building with commercial space plus four residential units above, each noted with high ceilings
- Additional garage unit included with the property for extra income potential
- B3‑2 zoned building in the East Wicker Park / West Town corridor
Local Financial Insights For Mixed Use
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 | $92.5k | $30.00 |
| − Vacancy | −$9.2k | −$3.00 |
| EGI | $83.2k | $27.00 |
| − OpEx | −$31.2k | −$10.13 |
| NOI | $52.0k | $16.88 |
3,082 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$743.0K
$650.1K – $866.8K
NOI $52,009 @ 7.0% cap · market cap 3.47%
Second Best
Multifamily LT 5
$733.9K
$642.2K – $856.3K
NOI $51,376 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,721 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kismet Studio
Exhibit
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Well-kept building includes a spacious commercial area, four upstairs residential units, and an additional garage unit.
Where is this mixed-use property located?
The property is located at 1136 North Milwaukee Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Mixed‑use building with commercial space plus four residential units above, each noted with high ceilings; Additional garage unit included with the property for extra income potential; B3‑2 zoned building in the East Wicker Park / West Town corridor
