Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3036 Milwaukee Ave Chicago, IL 60618
    Back to Search
    Property profile & analytics

    3036 Milwaukee Ave Chicago, IL 60618

    View on Map
    • Retail properties & Spaces
    • 1,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3036 Milwaukee Ave

    Property size
    1,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 1,000-square-foot retail space is available for lease at 3036 N Milwaukee Avenue in Chicago, Illinois, within the vibrant Cook County area. The property boasts a single-tenant occupancy, offering a blank canvas for a wide range of retail businesses. The entire 1,000 square feet is currently vacant, providing immediate occupancy for prospective tenants. This presents a unique opportunity to establish a presence in a bustling Chicago neighborhood. The property's location at 3036 N Milwaukee Ave offers excellent visibility and accessibility, ensuring high foot traffic and potential customer reach. The building's classification is strictly retail commercial, making it ideal for businesses seeking a dedicated retail space. The property is categorized as a single-tenant building, eliminating the complexities of multi-tenant management. This turnkey solution allows businesses to focus on their operations rather than property management. The address is conveniently located in the 60618 zip code of Chicago, Illinois, providing easy access to various transportation routes and amenities. This property is an excellent investment for businesses seeking a prime location in a thriving commercial area. The property's size and location make it suitable for a variety of retail concepts. Serious inquiries are encouraged to explore this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7195
    Latitude
    41.9363

    Comparable in this City

    • Value Estimation by Request
      4,738 SF

      3951 Kimball Ave

      Individual retail properties • 4,738 SF
      3951 Kimball Ave, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      37,800 SF

      2800 Milwaukee Ave

      Retail properties & Spaces • 37,800 SF
      2800 Milwaukee Ave, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      2,000 SF

      3678 Elston Ave

      Investment properties • 2,000 SF
      3678 Elston Ave, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      9,516 SF

      3621-3651 Western Ave

      Office Units • 9,516 SF
      3621-3651 Western Ave, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      4,250 SF

      3531 Western St

      Retail properties & Spaces • 4,250 SF
      3531 Western St, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      1,250 SF

      4105-4109 Kedzie Ave

      Office Spaces • 1,250 SF
      4105-4109 Kedzie Ave, Chicago, IL 60618
      View Details

    Similar Nearby for Sale

    • $515,000

      Iconic Restaurant Building and Business

      Award-winning restaurant and building for sale, a rare opportunity.
      4156 N Kedzie Ave, Chicago, IL 60618
      View Details
    • $2,300,000
      2,284 SF

      Retail Property on Irving Park

      Retail property for sale in Chicago, Illinois.
      2137-2139 W Irving Park Rd, Chicago, IL 60618
      View Details
    • $4,950,000

      Prime Corner Mixed-Use Investment

      Mixed-use property with long-term tenants and value-add potential.
      3159 N California Ave, Chicago, IL 60618
      View Details
    • $4,950,000
      18,812 SF

      Prime Corner Mixed-Use Investment

      High-traffic corner location with long-term tenants and value-add potential.
      3159 W Belmont Ave, Chicago, IL 60618
      View Details
    • Contact for pricing

      Restaurant/Bar Opportunity on Lincoln Avenue

      Corner restaurant/bar with high visibility in a bustling area.
      4263 N Lincoln Ave, Chicago, IL 60618
      View Details
    • Contact for pricing
      13,000 SF

      Belmont Ave Flex Space Investment

      Chicago Flex Warehouse, Value-Add Opportunity
      3743 Belmont Ave, Chicago, IL 60618
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr

      Newer Mixed-Use Building Retail/Office Space

      Newer mixed-use building with retail and office space for lease.
      2837 N Clybourn Ave, Chicago, IL 60618
      View Details
    • Contact for pricing

      Commercial Space in Chicago, IL

      Commercial space for rent in Chicago, Illinois.
      2823 W Belmont Ave, Chicago, IL 60618
      View Details
    • $26 SF/Yr

      Visible Retail Space on Irving

      Street-front retail space in Chicago's vibrant Irving Park corridor.
      3045 W Irving Park Rd, Chicago, IL 60618
      View Details
    • $21 SF/Yr

      Logan Square Leasing Opportunity

      High-exposure space in vibrant Logan Square, ideal for professionals.
      2832 N Milwaukee Ave, Chicago, IL 60618
      View Details
    • Contact for pricing

      Versatile Commercial Space in Chicago

      2,650 SF commercial property in North Center's commercial corridor.
      4251 N Western Ave, Chicago, IL 60618
      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.
    3036 Milwaukee Ave
    Chicago, IL 60618
    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
    3036 Milwaukee Ave, Chicago, IL, 60618
    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!