Freestanding Building on Milwaukee
8136 N Milwaukee Avenue, Niles, IL 60714
Highly visible commercial building with parking and flexible layout.
Type:Office, Retail
Property size:
2,800 SFPrice / SF:
$188/SF- Added:
- Feb 26, 2026
- Days on Market:
- 80
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 8136 N Milwaukee Avenue
General Information
- Standard status
- Active
- Size
- 2,800 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1976
Listing agent Andrzej "Andrew" Olszowka License #IL476.160900
Listing office Troy Companies
Listing date Feb 26, 2026
Source Crexi
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
HighLights
- High‑visibility location on Milwaukee Avenue with 27,000 vehicles per day
- Freestanding 2,800 SF commercial building
- Flexible layout suitable for retail, service, office, or medical use
- Approximately 8 on‑site parking spaces
- Month‑to‑month occupancy allows for flexible delivery options
- Seller open to discussing various sale structures including potential lease‑back
Overview
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, which includes approximately 8 on-site parking spaces. The location provides strong exposure, with approximately 27,000 vehicles passing by daily on Milwaukee Avenue. The brick building has a strong street presence and convenient customer parking. The current configuration is 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 property is suitable for retail, service, showroom, medical, professional office, or destination business use, subject to zoning and municipal approval. Month-to-month occupancy provides flexible delivery options. The seller is open to discussing various sale structures, including potential lease-back options.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$431.8K
NOI $38,864 @ 9.00% cap · cautious / downside scenario
Moderate
$555.2K
NOI $38,864 @ 7.00% cap · market / base-case scenario
Aggressive
$777.3K
NOI $38,864 @ 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 | $60.5k | $21.60 |
| − Vacancy | −$5.0k | −$1.77 |
| EGI | $55.5k | $19.83 |
| − OpEx | −$16.7k | −$5.95 |
| NOI | $38.9k | $13.88 |
2,800 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 7.35%
Second Best
Office B
$551.5K
$482.6K – $643.5K
NOI $38,607 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$966.7K
$845.9K – $1.13M
NOI $67,670 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Places Nearby
- Niles Flower & Gift(Forever Green Flowers) — 7570 N Milwaukee Ave, Chicago, IL 60631
- Niles Flowers & Gift — 7667 n milwaukee ave, niles, il 60714
- Forever Green Flowers (Niles Flowers) — 7667 n milwaukee ave, niles, il 60714
- Your Elegant Occasions — 8064 n milwaukee ave, niles, il 60714
- Daisy Flower — Niles, IL 60714
Location Insight
- Map
- Local Demand
- City
- Niles
- County
- Cook
- State
- Illinois
- Longitude
- -87.816937
- Latitude
- 42.0288373
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Highly visible commercial building with parking and flexible layout.
Where is this storefront property located?
The property is located at 8136 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 2,800 SF commercial building; Flexible layout suitable for retail, service, office, or medical use
