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    500 Milwaukee Ave Chicago, IL 60642

    For Lease
    Contact for pricing

    Restaurant & Retail Units Available, Grand Ave.

    Lot size:
    2,377 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional retail opportunity presents two available spaces, totaling 1,011 to 1,366 square feet, ideally situated at the base of a vibrant 227-unit luxury apartment building. The property boasts a highly visible location at the bustling intersection of Grand and Milwaukee Avenues in Chicago's desirable West Loop neighborhood. This transit-oriented location offers unparalleled accessibility, with the Grand Blue Line train station and numerous bus stops conveniently located on both Grand and Milwaukee Avenues. The property benefits from its proximity to major transportation arteries, including the Kennedy Expressway, and is just steps away from some of Chicago's most acclaimed restaurants, such as The Dawson, Piccolo Sogno, and La Scarola. The strong co-tenancy includes established businesses like Starbucks, Stax Cafe, Bank of America, and American Dental Associates, ensuring high foot traffic and a thriving commercial environment. This location is also near the 30-acre Bally's Casino site, further enhancing its appeal and potential for significant growth. The spaces are perfect for a variety of retail or restaurant concepts seeking a prime location in a rapidly developing area of Chicago. This is a unique chance to establish a business in a high-traffic, well-connected, and amenity-rich environment. Inquire today to learn more about this exciting opportunity.

    Property Features for 500 Milwaukee Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,377 SF

    Unit(s) available at that property

    Space
    Retail B - Milwaukee Avenue Frontage
    Size
    1,011 SF
    Space
    Retail E - Grand Avenue Frontage
    Size
    1,366 SF

    HighLights

    • Retail and restaurant space available, 1,011‑1,366 sq ft, in a multi‑tenant building.
    • High‑visibility location at Grand & Milwaukee Avenues.
    • Transit‑oriented, near Grand Blue Line & bus lines.
    • Excellent proximity to West Loop, Bally's Casino, and Kennedy Expressway.
    • Strong co‑tenancy with Starbucks, Stax Cafe, Bank of America, and American Dental Associates.
    • Located at the base of a 227‑unit luxury apartment building, near popular restaurants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chicago Fast Home ... Plumber Bank of America ATM Atm

    Suggested Use

    Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6359125
    Latitude
    41.8929153

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    FAQs

    What type of property is this?
    Restaurant - Restaurant & Retail Units Available, Grand Ave.
    Where is this restaurant located?
    The property is located at 500 Milwaukee Ave Chicago, IL.
    What are key features of this property?
    This property features: Retail and restaurant space available, 1,011-1,366 sq ft, in a multi-tenant building.; High-visibility location at Grand & Milwaukee Avenues.; Transit-oriented, near Grand Blue Line & bus lines.
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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
    500 Milwaukee Ave Chicago, IL 60642
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