Freestanding Professional Office
For Sale
$499,000
8130 N Milwaukee Avenue, Niles, IL 60714
The existing layout includes private offices, a conference room, a kitchen and two restrooms.
Property Size3,000 SF
Price / SF$166.33
Days on Market235
Property Features for 8130 N Milwaukee Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
COMMR
Additional Details
Asking Price
$499,000
Road Access
Yes
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$20,405
Building Details
Building Size
3,000 SF
Year Built
1976
Buildings
1
Stories
1
Units
1
Construction
brick
Listing Agency:
Troy Realty Ltd
Listed By:
Andrzej Olszowka · License #475160900
(773) 792-3000
Source:
Crossdavidson
Added: Mar 9
Changed: Oct 25
Last Checked: Oct 26 at 3:42AM
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 Troy Realty Ltd
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding brick office building was built in 1976 and has a professional layout with approximately 12 private offices, a conference room, a kitchen and two restrooms. The property is zoned COMMR and has approximately 8 on-site parking spaces. Current occupants are on month-to-month arrangements, and the seller may consider a negotiated leaseback of office space.
The building is on Milwaukee Avenue near Oakton Street in Niles. The location provides access to Niles, Park Ridge, Morton Grove, Skokie and O'Hare. Traffic counts are approximately 27,000 vehicles per day.
The building is on Milwaukee Avenue near Oakton Street in Niles. The location provides access to Niles, Park Ridge, Morton Grove, Skokie and O'Hare. Traffic counts are approximately 27,000 vehicles per day.
Key Highlights
- Approximately 12 private offices, conference room, kitchen and two restrooms
- Approximately 8 on‑site parking spaces
- Milwaukee Avenue near Oakton Street in Niles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,365
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,300
$827.3K
Cap Rate 7%
$590,929
$590.9K
Cap Rate 9%
$459,611
$459.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$73.4K $24.48/SF
− Vacancy
−$18.3K −$6.10/SF
EGI
$55.2K $18.38/SF
− OpEx
−$13.8K −$4.60/SF
NOI
$41.4K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,300
Cap Rate 7%
$590,929
Cap Rate 9%
$459,611
Alternative Uses
Best Use
Office B
$590.9K
$517.1K – $689.4K
NOI $41,365 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.3K – $1.21M
NOI $72,503 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 60714, IL
31,006
Population
11,867
Households
2.6
Avg Household Size
49
Median Age
39%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
4,922
Density / Sq Mi
$78,868
Median Household Income
$46,553
Median Earnings
$1,247
Median Rent
$351,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The existing layout includes private offices, a conference room, a kitchen and two restrooms.
Where is this office building located?
The property is located at 8130 N Milwaukee Avenue Niles, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 12 private offices, conference room, kitchen and two restrooms; Approximately 8 on‑site parking spaces; Milwaukee Avenue near Oakton Street in Niles
