Glenview Retail Strip Center
771-777 Milwaukee Avenue, Glenview, IL 60025
Four-unit retail plaza with long-term tenants on high-traffic Milwaukee.
Property size:
6,630 SFPrice / SF:
$226/SF- Added:
- Mar 19, 2026
- Days on Market:
- 59
- Last Refresh:
- Mar 19 at 8:08 pm
Property Features for 771-777 Milwaukee Avenue
General Information
- Standard status
- Active
- Size
- 6,630 SF
Building Details
- Year Built
- 1989
Listing agent SUNNY SEON KIM License #471003367
Listing office IPROPERTIES (847) 730-3121
Listing date Mar 19, 2026
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 IPROPERTIES
HighLights
- High traffic location on Milwaukee Ave (28,600 vehicles per day).
- Four‑unit brick strip plaza with 6,630 leasable area.
- Long‑term retail tenants with NN leases in place.
- Opportunity to lease the prime corner space.
- Excellent visibility and signage.
- Expansive parking lot (3.3 per 1000 sq. ft.).
Overview
This four-unit brick strip plaza in Glenview offers an investment opportunity with 6,630 square feet of leasable area. The property features long-term retail tenants under NN leases, with an opportunity to lease the prime corner space. Situated on Milwaukee Avenue, the location benefits from high traffic, with 28,600 vehicles per day, and offers excellent visibility and signage. An expansive parking lot is available on site, providing a parking ratio of 3.3 per 1,000 square feet. The property is located near major retailers and is positioned to generate consistent positive cash flow and maintain high occupancy.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.02M
NOI $92,025 @ 9.00% cap · cautious / downside scenario
Moderate
$1.31M
NOI $92,025 @ 7.00% cap · market / base-case scenario
Aggressive
$1.84M
NOI $92,025 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $143.2k | $21.60 |
| − Vacancy | −$11.7k | −$1.77 |
| EGI | $131.5k | $19.83 |
| − OpEx | −$39.4k | −$5.95 |
| NOI | $92.0k | $13.88 |
6,630 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $92,025 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,233 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Strip malls
Location Insight
- Map
- Local Demand
- City
- Glenview
- County
- Cook
- State
- Illinois
- Longitude
- -87.8526436
- Latitude
- 42.0703406
Nearby Similar for Sale
FAQs
What type of property is this?
Strip mall - Four-unit retail plaza with long-term tenants on high-traffic Milwaukee.
Where is this strip mall located?
The property is located at 771-777 Milwaukee Avenue Glenview, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High traffic location on Milwaukee Ave (28,600 vehicles per day).; Four‑unit brick strip plaza with 6,630 leasable area.; Long‑term retail tenants with NN leases in place.
