Free-Standing Restaurant with Outdoor
For Sale
$799,900
260 S Milwaukee Avenue, Wheeling, IL 60090
Freestanding restaurant with indoor dining plus outdoor seating, complete with a fully equipped commercial kitchen.
Property Size3,255 SF
Lot Size0.73 Acres
Price / SF$245.75
Days on Market276
Property Features for 260 S Milwaukee Avenue
General Information
Standard status
Active
Size
3,255 SF
Total Parking Spaces
30
Lot size
0.73 Acres
Property subtype
Business Opportunity
Site & Location
Drive-Thru
No
Traffic Count
30,000 vehicles/day
Road Access
Yes
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Sprinkler System
Yes
Amenities
garage
office
storage areas
security system
Building Details
Building Size
3,255 SF
Buildings
1
Abandoned
No
Listing Agency:
RE/MAX At Home
(847) 255-1000
Listed By:
Basel Tarabein · License #IL 471008459
(847) 255-1000
Source:
Perillorealestategroup
Added: Oct 28, 2025
Changed: Jul 29
Last Checked: Jul 29 at 11:51PM
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 RE/MAX At Home
Investment Insights
Based on property information with market context.
Free-standing restaurant property on a 32,000 sq. ft. (approx. 3/4 acre) parcel, featuring a 3,255 sq. ft. building designed for carry-out, dine-in, catering, and future growth. The space includes indoor dining for 40+ guests and an outdoor seating area for an additional 40+ clients. With 30 parking spaces and a two-car attached garage, it supports both customer traffic and efficient operations.
The kitchen is fully equipped with a 30-pan Middleby Marshall rotating oven with six shelves, two walk-in coolers, a walk-in freezer, extensive prep and packaging areas, retail display cases, refrigeration units, and the fixtures needed to continue operations. Additional amenities include an office, storage areas, three restrooms, and security and sprinkler systems throughout.
Located at 260 S Milwaukee Avenue in Wheeling, the property sits on “Restaurant Row” along Milwaukee Avenue, near Fresh Farms International Market, Superdawg, and Walgreens. The site’s layout and zoning offer versatility for potential future uses, and there is also mention of an adjacent 1/4-acre parcel owned by the Village of Wheeling that may be available for expansion discussions.
The kitchen is fully equipped with a 30-pan Middleby Marshall rotating oven with six shelves, two walk-in coolers, a walk-in freezer, extensive prep and packaging areas, retail display cases, refrigeration units, and the fixtures needed to continue operations. Additional amenities include an office, storage areas, three restrooms, and security and sprinkler systems throughout.
Located at 260 S Milwaukee Avenue in Wheeling, the property sits on “Restaurant Row” along Milwaukee Avenue, near Fresh Farms International Market, Superdawg, and Walgreens. The site’s layout and zoning offer versatility for potential future uses, and there is also mention of an adjacent 1/4-acre parcel owned by the Village of Wheeling that may be available for expansion discussions.
Key Highlights
- Freestanding restaurant on a 32,000 sq. ft. (approx. 3/4 acre) parcel with a 3,255 sq. ft. building
- Indoor dining for 40+ guests plus outdoor seating for an additional 40+ clients
- 30 parking spaces and a two‑car attached garage
Financial Insights For Specialty 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 | $78.1k | $24.00 |
| − Vacancy | −$5.5k | −$1.68 |
| EGI | $72.7k | $22.32 |
| − OpEx | −$18.2k | −$5.58 |
| NOI | $54.5k | $16.74 |
3,255 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$778.4K
$681.1K – $908.2K
NOI $54,489 @ 7.0% cap · market cap 6.81%
Second Best
Industrial
$200.2K
$175.2K – $233.5K
NOI $14,012 @ 7.0% cap · market cap 1.75%
Theoretical Best
Office A
$1.12M
$983.3K – $1.31M
NOI $78,666 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60090, IL
39,017
Population
15,960
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
88%
High-School Grad
9.0 sq mi
ZIP Area
4,335
Density / Sq Mi
$83,449
Median Household Income
$45,436
Median Earnings
$1,578
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant with indoor dining plus outdoor seating, complete with a fully equipped commercial kitchen.
Where is this conventional restaurant located?
The property is located at 260 S Milwaukee Avenue Wheeling, IL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Freestanding restaurant on a 32,000 sq. ft. (approx. 3/4 acre) parcel with a 3,255 sq. ft. building; Indoor dining for 40+ guests plus outdoor seating for an additional 40+ clients; 30 parking spaces and a two‑car attached garage
