1138 Milwaukee Ave Chicago, IL 60642
This exceptional 1,250 square foot commercial condominium presents a rare investment opportunity in Chicago's desirable West Town neighborhood. Located at 1138 N Milwaukee Avenue, this single-tenant property boasts a coveted C2-2 zoning designation and low real estate taxes, promising significant potential for growth. Originally designed as an office, the space features a reception area, conference room, three private offices, and a washroom, all under a striking 12-foot ceiling. The unit is equipped with high-quality mechanical, electrical, and plumbing systems, including a gas-forced air unit, electric water heater, and a robust 200-amp electrical service. Currently operating as a successful med spa, the property is in excellent condition and ready for immediate occupancy by a variety of professional, office, or retail businesses. Its prime location offers unparalleled accessibility, situated just a block from the CTA Division Street Blue Line Station and conveniently served by #9 and #70 bus lines. The larger building encompasses 6,098 square feet on a 3,081 square foot lot and was constructed in 2008. This is a unique chance to acquire a thriving business space in a high-traffic area, benefiting from the vibrant energy of West Town and its proximity to the bustling retail corridor of Wicker Park. The property's single-tenant occupancy and strong infrastructure make it an ideal investment for discerning buyers seeking a stable and potentially high-return asset in a prime Chicago location. Cook County APN: 17-05-301-064-1001.
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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
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.