Freestanding Commercial Building on Milwaukee
For Sale
Contact for pricing
8130 N Milwaukee Avenue, Niles, IL 60714
Highly visible building suitable for retail, office, or medical use.
Property Size3,000 SF
Price / SF$176.33
Days on Market162
Property Features for 8130 N Milwaukee Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Office
Zoning
COMMR
Occupancy
60%
Lease Type
Gross
Investment Type
Owner/User
Net Operating Income
$1.00
Building Details
Year Built
1976
Year Renovated
2015
Buildings
1
Units
1
Tenancy
Multi
Listing Agency:
Troy Companies
Listed By:
Andrzej "Andrew" Olszowka · License #IL476.160900
Source:
Crexi
Added: Mar 12
Changed: Aug 18
Last Checked: Aug 20 at 12:40AM
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 Companies
Investment Insights
Based on property information with market context.
This freestanding commercial building is located on Milwaukee Avenue, near the Oakton Street commercial corridor. The building offers approximately 2,800 square feet of space on a wide lot, with approximately 8 on-site parking spaces. The location provides strong exposure, with approximately 27,000 vehicles per day along Milwaukee Avenue. The brick construction provides a strong street presence and convenient customer parking. The property is currently configured as professional office space, featuring multiple private rooms, a conference area, a kitchen, and restrooms. The flexible layout allows for retail or service-oriented reconfiguration. The month-to-month occupancy provides flexible delivery options. Potential business uses include retail, service, showroom, medical, professional office, or destination business (subject to zoning and municipal approval). The seller is open to discussing various sale structures, including potential lease-back options.
Key Highlights
- High‑visibility location on Milwaukee Avenue with 27,000 vehicles per day
- Freestanding commercial building with approximately 2,800 SF
- Approximately 8 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,365
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$906.3K – $1.21M
NOI $72,503 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Highly visible building suitable for retail, office, or medical use.
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 $529,000.
What are key features of this property?
This property features: High‑visibility location on Milwaukee Avenue with 27,000 vehicles per day; Freestanding commercial building with approximately 2,800 SF; Approximately 8 on‑site parking spaces
