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    1542-1550 Milwaukee Ave Chicago, IL 60622

    Sponsored
    For Sale
    Contact for pricing

    36,000 SF, prime location, vacant retail.

    Property size:
    36,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional four-story mixed-use building, totaling 36,000 square feet, presents a unique investment opportunity in the vibrant Wicker Park neighborhood of Chicago, Illinois. Located at 1542-1550 N Milwaukee Avenue, this property boasts a prime location just steps from the bustling intersection of North, Damen, and Milwaukee Avenues, and the Damen Blue Line L stop. The building currently features six residential apartments and a 12,500 square foot ground floor retail space, currently vacant, plus a full, clean basement. The retail space, previously occupied by a furniture store, offers significant flexibility for a variety of uses. The property sits on a 12,500 square foot lot and is zoned B3-2. Its strategic location places it amidst a thriving retail landscape, surrounded by both national and local businesses, including Yeti, Levi's, Chase Bank, Dr. Martens, Jeni's Ice Cream, Adidas, The UPS Store, Lou Malnati's Pizza, 7-Eleven, Carhartt, Piece Pizza, Stan's Donuts, Subterranean, Big Star, Urban Belly, Flatiron Building, Chop Shop, The Robey Hotel, and 5411 Empanadas. The 2023 property taxes were $43,688.57. The Property Identification Number (PIN) is 17-06-207-009. This is an unparalleled chance to acquire a substantial property in one of Chicago's most desirable and dynamic neighborhoods.

    Property Features for 1542-1550 Milwaukee Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    36,000 SF

    Building Details

    Stories
    4

    HighLights

    • 36,000 SF mixed‑use building (retail/residential) for sale in Wicker Park, Chicago. Includes 12,500 SF of ground floor retail space available for lease.
    • Six residential apartments and a full basement.
    • Prime location at 1542‑1550 N Milwaukee Ave, steps from the Damen Blue Line "L" station and the North/Damen/Milwaukee intersection.
    • Excellent walkability to numerous restaurants, shops, and nightlife venues.
    • Strong national and local retail tenant mix in the immediate vicinity, including Yeti, Levi's, Chase Bank, and many more.
    • B3‑2 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6764184
    Latitude
    41.9093553

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    FAQs

    What type of property is this?
    Mixed-use property - 36,000 SF, prime location, vacant retail.
    Where is this mixed-use property located?
    The property is located at 1542-1550 Milwaukee Ave Chicago, IL.
    What are key features of this property?
    This property features: 36,000 SF mixed-use building (retail/residential) for sale in Wicker Park, Chicago. Includes 12,500 SF of ground floor retail space available for lease.; Six residential apartments and a full basement.; Prime location at 1542-1550 N Milwaukee Ave, steps from the Damen Blue Line "L" station and the North/Damen/Milwaukee intersection.
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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
    1542-1550 Milwaukee Ave Chicago, IL 60622
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