Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1223 Milwaukee Avenue Glenview, IL 60025

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $795,000

    0.835 acre commercial land for sale on Milwaukee Road.

    Type:Land
    Lot size:
    0.84 Acres
    Added:
    Oct 20, 2020
    Days on Market:
    2008
    Last Refresh:
    Apr 15 at 12:24 am

    Property Features for 1223 Milwaukee Avenue

    General Information

    Standard status
    Active
    Lot size
    0.84 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Brian Rieger

    Listing agent Brian Rieger License #475081888

    Listing office Berkshire Hathaway HomeServices Chicago

    Listing date Oct 20, 2020

    Source Compass

    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 Berkshire Hathaway HomeServices Chicago

    Overview

    Commercial Land Near Abt Electronics

    This 0.835-acre commercial site is located on Milwaukee Road, directly across from Abt Electronics. The property is zoned B-2, which allows for a broad range of commercial uses. The location benefits from high traffic volume, with average daily traffic counts exceeding 35,000 cars.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenview
    County
    Cook
    State
    Illinois
    Longitude
    -87.8608859
    Latitude
    42.078868

    Nearby Similar for Sale

    • $399,900

      Prime Glenview Lot Opportunity

      Exceptional 1/3 acre lot in desirable Glenview neighborhood.
      3800 Kiess Drive, Glenview, IL 60026
      View Details
    • $1,500,000
      6,630 SF

      Glenview Retail Strip Center Plaza

      Four-unit retail plaza with long-term tenants on high-traffic Milwaukee.
      771-777 Milwaukee Avenue, Glenview, IL 60025
      View Details
    • $949,000

      Glenview Automotive Repair Center

      Established automotive repair center in prime downtown Glenview location.
      1131 Waukegan Road, Glenview, IL 60025
      View Details
    • $110,000

      Restaurant in Glen Oak Plaza

      Restaurant with fixtures and equipment for sale in Glenview.
      1417 Waukegan Road, Glenview, IL 60025
      View Details
    • $1,500,000
      6,630 SF

      Glenview Retail Space For Sale

      6,630 SqFt retail space available in Glenview, Illinois.
      771 Milwaukee Ave, Glenview, IL 60025
      View Details
    • $1,429,000
      3,000 SF

      Prime Land on Milwaukee Avenue

      High-visibility commercial land with redevelopment potential in Glenview.
      9850 Milwaukee Avenue, Glenview, IL 60025
      View Details
    • Contact for pricing
      31,100 SF

      Glenview Class A Office/Flex Building

      Two-story Class A office/flex building in North Shore Glenview.
      2500 Lehigh Ave, Glenview, IL 60026
      View Details
    • $17
      20,000 SF

      Glenview Office Center Suites

      Office and medical suites available in Glenview near I-294.
      4200-4240 Commercial Way, Glenview, IL 60025
      View Details
    • $120,000

      Restaurant in Glen Oak Plaza

      Restaurant for sale with fixtures and equipment in Glenview.
      1417 Waukegan Road, Glenview, IL 60025
      View Details
    • Contact for pricing
      256,700 SF

      Glenview Redevelopment Opportunity

      Rare 19.38 acre redevelopment opportunity in the heart of Glenview.
      1900 East Lake Avenue, Glenview, IL, 60025
      View Details
    • $3,500,000
      69,000 SF

      Glenview Office Research Facility

      69,000 SF office/medical facility on 4.24 acres for sale.
      2050 Claire Ct, Glenview, IL 60025
      View Details
    • $610,000

      Glenview Residential Development Land Opportunity

      Permit-ready lots for custom homes, delivery Summer 2026.
      1900 E Lake Avenue, Glenview, IL 60025
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.835 acre commercial land for sale on Milwaukee Road.
    Where is this commercial land located?
    The property is located at 1223 Milwaukee Avenue Glenview, IL.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: High traffic count (over 35,000 cars per day) offers excellent visibility.; B‑2 zoning allows for a broad range of commercial uses.; Located on busy Milwaukee Road.
    (847) 964-1554
    We can help!
    Listing Contact
    Brian Rieger
    Real Estate License ID: 475081888
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!