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    1209 Milwaukee Ave Chicago, IL 60642

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    For Sale
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    20,050 SF Retail/Mixed-Use Opportunity

    Property size:
    20,050 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional three-story, 20,050 square foot mixed-use building is strategically located at 1209 N Milwaukee Ave in Chicago, IL, 60642. Boasting a highly visible location at the intersection of Division, Ashland, and Milwaukee Avenues, this property benefits from significant foot traffic (55,000 total) and proximity to the Division Blue Line. Currently, a portion of the building (3,481 square feet) is net leased to Fifth Third Bank until 2026, with three five-year renewal options included. This lease also encompasses the 12-space parking lot situated behind the building. The expansive facade presents a remarkable branding opportunity. The building's zoning (B1-3) allows for diverse uses, including retail, office, hotel, or residential space. The upper floors offer significant potential for conversion into self-storage units. With a land area of 8,640 square feet, this property presents a compelling investment opportunity for both users and investors seeking a prime location in a vibrant Chicago neighborhood. The building's versatility and prominent location make it an ideal candidate for a wide range of development and investment strategies.

    Property Features for 1209 Milwaukee Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    20,050 SF

    Building Details

    Stories
    3

    HighLights

    • 20,050 SF mixed‑use building.
    • High visibility at the Division, Ashland, and Milwaukee intersection.
    • Three‑story building suitable for retail, office, hotel, or residential use; upper floors adaptable for self‑storage.
    • Excellent location near the Division Blue Line station.
    • Partially net‑leased to Fifth Third Bank through 2026 with three 5‑year renewal options, including parking.
    • Significant façade branding opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fifth Third Bank ... Mortgage Lender Kate Corby & Dancers Arts Organization Oslo Builders Contractor

    Suggested Use

    Law Firm Restaurant Spa & Massage Realty agency 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/DuPage
    State
    Illinois
    Longitude
    -87.6666044
    Latitude
    41.9038132

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    FAQs

    What type of property is this?
    Individual retail property - 20,050 SF Retail/Mixed-Use Opportunity
    Where is this individual retail property located?
    The property is located at 1209 Milwaukee Ave Chicago, IL.
    What are key features of this property?
    This property features: 20,050 SF mixed-use building.; High visibility at the Division, Ashland, and Milwaukee intersection.; Three-story building suitable for retail, office, hotel, or residential use; upper floors adaptable for self-storage.
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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
    1209 Milwaukee Ave Chicago, IL 60642
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