Warehouse Flex
318 N Milwaukee Ave. Wheeling, IL 60090
318 N Milwaukee Ave., Wheeling, IL, 60090
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For Sale
Contact for pricing
Flex space suitable for a variety of showroom and service retail uses, including home improvement and equipment sales.
Property Size5,412 SF
Price / SF$203.25
Days on Market21
Property Features for 318 N Milwaukee Ave.
General Information
- Standard status
- Active
- Size
- 5,412 SF
- Property subtype
- Retail, Office
Listing agency
Entre Commercial Realty LLC
Listed by
Corey Laktas · License #475.215121
Source
Crexi
Added: Jul 3 Updated: Jul 22 at 2:03PM Checked: Jul 22 at 2:03PM
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 Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
This warehouse flex space is well-suited for showroom-and-warehouse style operations, with room for a range of retail and service needs. The property is described as a fit for uses such as kitchen and bath flooring showroom/warehouse, lighting and plumbing supply, commercial furniture sales, HVAC and electrical and plumbing supply, and medical equipment sales and service.
Located at 318 N. Milwaukee Ave. in Wheeling, IL, the space offers flexibility for businesses that need both a sales floor environment and warehouse-style storage.
If you’re evaluating a property for a combination of product display and service-oriented operations, this flex warehouse format can support a broad set of commercial activities aligned with the listed example uses.
Located at 318 N. Milwaukee Ave. in Wheeling, IL, the space offers flexibility for businesses that need both a sales floor environment and warehouse-style storage.
If you’re evaluating a property for a combination of product display and service-oriented operations, this flex warehouse format can support a broad set of commercial activities aligned with the listed example uses.
Key Highlights
- Flex space suitable for a variety of showroom and service retail uses
- Works for kitchen and bath flooring showroom/warehouse uses
- Suitable for lighting and plumbing supply sales and showroom needs
Local Financial Insights For Flex RnD
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 | $97.4k | $18.00 |
| − Vacancy | −$9.7k | −$1.80 |
| EGI | $87.7k | $16.20 |
| − OpEx | −$30.7k | −$5.67 |
| NOI | $57.0k | $10.53 |
5,412 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$814.1K
$712.4K – $949.8K
NOI $56,988 @ 7.0% cap · market cap 5.18%
Second Best
Warehouse
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,796 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Tipsy — 735 N Milwaukee Ave #505, Wheeling, IL 60090
FAQs
What type of property is this?
Flex space - Flex space suitable for a variety of showroom and service retail uses, including home improvement and equipment sales.
Where is this flex space located?
The property is located at 318 N Milwaukee Ave. Wheeling, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Flex space suitable for a variety of showroom and service retail uses; Works for kitchen and bath flooring showroom/warehouse uses; Suitable for lighting and plumbing supply sales and showroom needs
