Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1201 Milwaukee Ave Chicago, IL 60642
    Back to Search
    Property profile & analytics

    1201 Milwaukee Ave Chicago, IL 60642

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • City Sports / (Bike/Boat/Book/etc) Store
    • Palm USA Inc HQ of City Sports / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 1201 Milwaukee Ave

    Year built
    1910
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located at 1201 N Milwaukee Ave, Chicago, IL 60642, a prominent corner at the intersection of Milwaukee, Ashland, and Division Streets in the vibrant Wicker Park submarket. The historic three-story building, completely renovated in 2024, offers substantial frontage with tremendous visibility to the Polish Triangle Park. This mixed-use development will also include over 20 high-end apartment units, ensuring a high volume of foot traffic. The property benefits from its proximity to the Division Street Blue Line station, boasting 600,000 annual riders, and numerous bus lines, guaranteeing significant pedestrian and vehicular traffic. Units are available in sizes ranging from a minimum of 1,200 square feet to a maximum contiguous space of 8,000 square feet, making it suitable for a variety of retail businesses. There is no on-site parking and no elevators. This is a unique chance to establish a presence in a thriving, high-traffic location within a newly renovated building. The property's location at a key intersection in Wicker Park ensures maximum exposure and accessibility for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6664
    Latitude
    41.9034

    Comparable in this City

    • Value Estimation by Request
      11,604 SF

      1152 Milwaukee Ave

      Retail properties & Spaces • 11,604 SF
      1152 Milwaukee Ave, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      90,084 SF

      1901 Cortland St

      Restaurants • 90,084 SF
      1901 Cortland St, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      37,036 SF

      865 North Ave

      Retail properties & Spaces • 37,036 SF
      865 North Ave, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      20,036 SF

      865 North Ave

      Retail properties & Spaces • 20,036 SF
      865 North Ave, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      3,557 SF

      Confidential Riv

      Restaurants • 3,557 SF
      0 Confidential Riv, Chicago, IL 60642
      View Details
    • Value Estimation by Request
      82,023 SF

      939 North Ave

      Retail properties & Spaces • 82,023 SF
      939 North Ave, Chicago, IL 60642
      View Details

    Similar Nearby for Sale

    • $2,250,000

      Urban Retail Building For Sale

      Infill urban retail building in the North and Clybourn corridor.
      1504 North Fremont St, Chicago, IL 60642
      View Details
    • Contact for pricing
      1,300 SF

      Turnkey Restaurant Building For Sale

      Freestanding, fully equipped restaurant in high-traffic location.
      1543 N Elston Ave, Chicago, IL 60642
      View Details
    • $4,000,000
      18,512 SF

      Iconic Venue on Weed Street

      Trophy retail asset occupied by Joe’s on Weed.
      940 W Weed St, Chicago, IL 60642
      View Details
    • $1,975,000

      West Town Corner Commercial Building

      Two-story commercial building with restaurant and office space.
      1422-1424 West Chicago Ave, Chicago, IL 60642
      View Details
    • $749,000
      0.44 Acres

      Chicago Commercial Property for Sale

      Commercial property available in Chicago, Illinois.
      1445 W Chicago Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      20,050 SF

      Milwaukee Avenue Retail Space Available

      Retail space for rent near Division Blue Line CTA Station.
      1209 N Milwaukee Ave, Chicago, IL 60642
      View Details

    Similar Nearby for Lease

    • $45 SF/Yr

      Restaurant Space in Prime Location

      2000 Sq. Ft. restaurant space in Chicago's hottest location.
      1223 N Milwaukee Ave, Chicago, IL 60642
      View Details
    • $25 SF/Yr
      2,813 SF

      West Town Restaurant/Retail Space

      2,813 SF street-level restaurant/retail space for lease in West Town.
      1540 W Avenue N, Chicago, IL 60642
      View Details
    • Contact for pricing
      17,982 SF

      Versatile Building Near Clybourn Metra

      25,431 SF building suitable for office, industrial, or retail.
      1529 W Armitage Ave, Chicago, IL 60642
      View Details
    • Contact for pricing
      82,023 SF

      Lincoln Park Retail Opportunity

      Chicago Retail Space: 2,938 - 38,718 SF
      939 North Ave, Chicago, IL 60642
      View Details
    • Contact for pricing

      Versatile Building Near Transportation Hub

      25,431 SF building suitable for office, industrial, or retail.
      1529 W Armitage Ave, Chicago, IL 60642
      View Details
    • Contact for pricing

      New Retail Space in Fulton Market

      Ground-floor retail space in a new luxury apartment building.
      465 North Carpenter St, Chicago, IL 60642
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1201 Milwaukee Ave
    Chicago, IL 60642
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1201 Milwaukee Ave, Chicago, IL, 60642
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!