851-1101 Milwaukee Ave, Vernon Hills, IL 60061
Mellody Farm, located at 851-1101 Milwaukee Avenue in Vernon Hills, Illinois (zip code 60061), presents a unique retail and restaurant investment opportunity. This open-air shopping and dining destination boasts a total of 258,691 square feet of space, currently configured into two suites. The property is situated in Lake County and offers convenient access, being only two miles from I-94. Currently, there are 1,181 square feet of vacant space available, providing immediate potential for expansion or new tenancy. The property's classification includes both retail and restaurant uses, making it suitable for a variety of businesses. The existing structure is a multi-tenant shopping center, offering a vibrant and established commercial environment. The property sits on a lot with zero acres, indicating a high-density development. This location benefits from its proximity to a significant transportation artery and a residential population base, supported by the presence of 260 luxury apartments within a two-mile radius. The property's size and location make it an attractive option for businesses seeking high visibility and accessibility. This is a prime opportunity to establish or expand a business within a thriving commercial area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.