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    300 N Milwaukee Ave Lake Villa, IL 60046

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    For Sale
    $2,200,000

    Value-add opportunity in a well-maintained strip center.

    Property Features for 300 N Milwaukee Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1990

    Source: ILREALTY, INC. KURCHINA & ASSOC. Agent WAYNE KURCHINA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Well-Maintained Strip Center For Sale

    Crossings Plaza is a well-maintained 16-unit strip center offering a value-add opportunity. The property benefits from high visibility and full ingress/egress. Currently, 14 units are occupied, with two 1,200 square foot units available. Recent improvements include a roof replacement in 2001, exterior light updates in 2022, and dumpster corral replacements in 2022. Further enhancements are planned, with a new parking lot scheduled for 2025, and some sidewalks and curbs replaced in 2024.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Villa
    County
    Lake
    State
    Illinois
    Longitude
    -88.0615
    Latitude
    42.4132

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    FAQs

    What type of property is this?
    Strip mall - Value-add opportunity in a well-maintained strip center.
    Where is this strip mall located?
    The property is located at 300 N Milwaukee Ave Lake Villa, IL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - High occupancy rate: **14 out of 16 units are currently occupied, providing immediate income.**; - Value-add opportunity: Potential to increase revenue by leasing the 2 available 1,200 sf units.; - Recent capital improvements: New parking lot in 2025, roof replaced in 2001, updated exterior lights in 2022, and replaced dumpster corellas in 2022.
    (815) 344-8900
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    Realmo Value Estimation

    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.

    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.

    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
    300 N Milwaukee Ave Lake Villa, IL 60046
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