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    1138 Milwaukee Ave Chicago, IL 60642

    Sponsored
    For Lease
    $30 SF/Yr ($15,245 /Mo)

    Prime Chicago location, 1250 SF, C2-2 zoned

    Lot size:
    6,098 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1,250 square foot commercial condominium presents a rare investment opportunity in Chicago's desirable West Town neighborhood. Located at 1138 N Milwaukee Avenue, this single-tenant property boasts a coveted C2-2 zoning designation and low real estate taxes, promising significant potential for growth. Originally designed as an office, the space features a reception area, conference room, three private offices, and a washroom, all under a striking 12-foot ceiling. The unit is equipped with high-quality mechanical, electrical, and plumbing systems, including a gas-forced air unit, electric water heater, and a robust 200-amp electrical service. Currently operating as a successful med spa, the property is in excellent condition and ready for immediate occupancy by a variety of professional, office, or retail businesses. Its prime location offers unparalleled accessibility, situated just a block from the CTA Division Street Blue Line Station and conveniently served by #9 and #70 bus lines. The larger building encompasses 6,098 square feet on a 3,081 square foot lot and was constructed in 2008. This is a unique chance to acquire a thriving business space in a high-traffic area, benefiting from the vibrant energy of West Town and its proximity to the bustling retail corridor of Wicker Park. The property's single-tenant occupancy and strong infrastructure make it an ideal investment for discerning buyers seeking a stable and potentially high-return asset in a prime Chicago location. Cook County APN: 17-05-301-064-1001.

    Property Features for 1138 Milwaukee Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,098 SF
    Total Rate
    15245

    Building Details

    Year Built
    2008
    Buildings
    1

    Unit(s) available at that property

    Space
    Size
    1,250 SF
    Rate per SF
    $30

    HighLights

    • 1,250 SF commercial condo in prime West Town location.
    • C2‑2 zoning with low real estate taxes.
    • Features reception area, conference room, three private offices, and washroom.
    • Excellent condition, ready for immediate occupancy.
    • High‑traffic location near CTA Blue Line and bus routes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Permanent MakeUp by ... Permanent Make-Up Clinic Walco Construction Construction Company MUSE Salons Beauty Salon MUSE Laser&Spa Wicker ... Laser Hair Removal Service TopLashes Beauty Salon

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.665038876628
    Latitude
    41.90245668505

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    FAQs

    What type of property is this?
    Individual retail property - Prime Chicago location, 1250 SF, C2-2 zoned
    Where is this individual retail property located?
    The property is located at 1138 Milwaukee Ave Chicago, IL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: 1,250 SF commercial condo in prime West Town location.; C2-2 zoning with low real estate taxes.; Features reception area, conference room, three private offices, and washroom.
    Request Owner's contact information
    1138 Milwaukee Ave Chicago, IL 60642
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1138 Milwaukee Ave Chicago, IL 60642
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