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

    426 S Milwaukee Avenue Libertyville, IL 60048

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,995,000

    35,542 SF end cap parcel in Libertyville, Illinois.

    Type:Land or Vacant Lot
    Lot size:
    0.82 Acres
    Added:
    Nov 5, 2025
    Days on Market:
    167
    Last Refresh:
    Apr 5 at 9:33 pm

    Property Features for 426 S Milwaukee Avenue

    General Information

    Standard status
    Active
    Lot size
    0.82 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    BENJAMIN LOVINGER

    Listing agent BENJAMIN LOVINGER License #475187079

    Listing office BAIRD & WARNER

    Listing date Nov 5, 2025

    Source Corcoran

    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 BAIRD & WARNER

    Overview

    Prime Libertyville Redevelopment Opportunity

    This 35,542 square foot end cap parcel is positioned at a busy intersection in Libertyville, offering visibility and access in Lake County. Over 24,000 vehicles pass by the location daily. The surrounding area has a median household income of $140,000 within one mile. Zoned for commercial use, the site allows for a building height of up to 45 feet. It is suited for a mixed-use redevelopment, apartment project, or professional office suites. The Village of Libertyville is open to collaboration on projects. The end cap location allows for design flexibility, including the potential for a drive-thru component or high-traffic retail. The property is located minutes from downtown, Metra access, major retail areas, and employment centers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Libertyville
    County
    Lake
    State
    Illinois
    Longitude
    -87.9541
    Latitude
    42.2876

    Nearby Similar for Sale

    • $315,000

      Move-In Ready Office Suites

      Updated office condominium with private offices and common areas.
      28085 N Ashley Circle, Libertyville, IL 60048
      View Details
    • $799,000

      Premium Libertyville Office Space Available

      Upscale office suites in a prime Libertyville business park.
      1017/1019 W Park Avenue, Libertyville, IL 60048
      View Details
    • $1,599,000

      Versatile Commercial Property in Libertyville

      Thriving commercial property with high visibility and flexible layouts.
      197 Peterson Road, Libertyville, IL 60048
      View Details
    • $215,000

      Libertyville Office Space For Sale

      Office condo with flexible layout in Libertyville, Illinois.
      708 Florsheim Drive, Libertyville, IL 60048
      View Details
    • $163,000

      Libertyville Office Space Opportunity

      Large office space with highway access and versatile layout.
      14047 W Petronella Drive, Libertyville, IL 60048
      View Details
    • $1,500,000

      Retail Space in Downtown Libertyville

      2,000+ sq ft retail space in new building.
      121 W Church Street, Libertyville, IL 60048
      View Details
    • $425,000
      2,450 SF

      287 Peterson Rd. Libertyville, IL 60048 - Peterson Commons

      287 Peterson Rd, Libertyville, IL 60048
      View Details
    • $259,900

      Libertyville Office Space For Sale

      Spacious office suite with five private offices and ample parking.
      1880 W Winchester Road, Libertyville, IL 60048
      View Details
    • $150,000

      Land in Downtown Libertyville

      Platted lot near bike path, train, and amenities.
      E Sunnyside Avenue, Libertyville, IL 60048
      View Details
    • $375,000

      Prime Libertyville Commercial Property

      High-visibility commercial property ideal for office or retail use.
      134 S Milwaukee Avenue, Libertyville, IL 60048
      View Details
    • $1,500,000

      Surgical Center Investment Opportunity

      Fully leased surgical center condo unit for sale.
      1870 W Winchester Road, Libertyville, IL 60048
      View Details
    • $409,500
      3,500 SF

      Libertyville Office Condo For Sale

      Commercial office condo in Libertyville with income potential.
      14047 W Petronella Dr, Libertyville, IL 60048
      View Details

    FAQs

    What type of property is this?
    Commercial land - 35,542 SF end cap parcel in Libertyville, Illinois.
    Where is this commercial land located?
    The property is located at 426 S Milwaukee Avenue Libertyville, IL.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Prime 35,542 sqft end cap parcel at a high‑traffic intersection.; Exceptional visibility with over 24,000 vehicles passing daily.; Strong demographics: **$140,000 median household income within one mile.**
    (847) 367-1855
    We can help!
    Listing Contact
    BENJAMIN LOVINGER
    Real Estate License ID: 475187079
    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!