Property profile

851-1101 Milwaukee Ave Vernon Hills, IL 60061

OFF-MARKET
Lifestyle centers
258,691 SF
Saved · see the list in your Dashboard

Property summary

AI-generated overview

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.

Property profile

Verified
Property type Lifestyle centers
Total area 258,691 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

851-1101 Milwaukee Ave Vernon Hills, IL 60061
Vernon Hills metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 851-1101 Milwaukee Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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