Mixed-Use Property with Industrial
For Sale
$1,950,000
736-740 12th Street, Wilmette, IL 60091
Commercial buildings, storefronts, an apartment, and a detached garage comprise the existing improvements.
Property Size12,038 SF
Lot Size0.46 Acres
Price / SF$161.99
Days on Market109
Property Features for 736-740 12th Street
General Information
Standard status
Active
Size
12,038 SF
Lot size
0.46 Acres
Property subtype
Commercial
Zoning
VC
Occupancy
100%
Additional Details
Land Use
commercial, residential
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$65,207
Building Details
Building Size
12,038 SF
Year Built
1930
Stories
1
Listing Agency:
Four Daughters Real Estate
Listed By:
Mariusz Bilotas · License #471016608
(847) 886-4663
Source:
Fishmangroup
Added: Jul 13
Changed: Oct 25
Last Checked: Oct 26 at 3:38AM
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 Four Daughters Real Estate
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Investment Insights
Based on property information with market context.
The property combines industrial, storefront, and residential components. One industrial building contains approximately 7,455 square feet beneath a bowstring truss roof, with high ceilings and drive-in access; a separate warehouse sits in front. A second industrial building offers approximately 2,450 square feet and four drive-in doors. Other improvements include two commercial storefront condos, a farmhouse with business space on the first floor and an apartment above, and a detached two-car garage. The property is occupied, with month-to-month tenancies.
Located in Wilmette’s Village Center, the site is near the Metra station, the downtown shopping and dining district, and Lake Michigan’s harbor and Gillson Beach. Current zoning is VC (Village Center). The Village is open to discussing a potential PUD approach for future mixed-use commercial and residential redevelopment, including additional height and density.
Located in Wilmette’s Village Center, the site is near the Metra station, the downtown shopping and dining district, and Lake Michigan’s harbor and Gillson Beach. Current zoning is VC (Village Center). The Village is open to discussing a potential PUD approach for future mixed-use commercial and residential redevelopment, including additional height and density.
Key Highlights
- Approximately 7,455 SF industrial building with drive‑in access and bowstring truss roof
- Approximately 2,450 SF industrial building with 4 drive‑in doors
- Two commercial storefront condos on 12th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$167,089
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,341,780
$3.3M
Cap Rate 7%
$2,386,986
$2.4M
Cap Rate 9%
$1,856,544
$1.9M
Market Conditions
NOI Build-Up for 12,038 SF
Gross rent
$260.0K $21.60/SF
− Vacancy
−$21.3K −$1.77/SF
EGI
$238.7K $19.83/SF
− OpEx
−$71.6K −$5.95/SF
NOI
$167.1K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,341,780
Cap Rate 7%
$2,386,986
Cap Rate 9%
$1,856,544
Alternative Uses
Best Use
Mixed Use
$2.90M
$2.54M – $3.39M
NOI $203,141 @ 7.0% cap · market cap 10.42%
Second Best
Retail
$2.39M
$2.09M – $2.78M
NOI $167,089 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $290,932 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 60091, IL
28,053
Population
10,673
Households
2.6
Avg Household Size
44
Median Age
85%
College-Educated
99%
High-School Grad
5.3 sq mi
ZIP Area
5,293
Density / Sq Mi
$190,250
Median Household Income
$98,414
Median Earnings
$1,968
Median Rent
$800,100
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial buildings, storefronts, an apartment, and a detached garage comprise the existing improvements.
Where is this mixed-use property located?
The property is located at 736-740 12th Street Wilmette, IL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Approximately 7,455 SF industrial building with drive‑in access and bowstring truss roof; Approximately 2,450 SF industrial building with 4 drive‑in doors; Two commercial storefront condos on 12th Street
