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    Property profile & analytics

    609 Milwaukee Ave Glenview, IL 60025-3870

    • Retail space
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2485730
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cafe Lucci / Italian Restaurant / Cocktail Bar

    Property Details for 609 Milwaukee Ave

    Year built
    1952
    Lot size
    0.49 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    04-33-302-072
    APU
    433302072

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenview
    County
    Cook
    State
    Illinois
    Longitude
    -87.8492
    Latitude
    42.067
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $57,635
    $55,886
    $214,043
    $269,929
    -
    $223,544
    $856,172
    $1,079,716

    Comparable in this City

    • Value Estimation by Request
      27,712 SF

      3124 Glenview Rd

      Individual retail properties • 27,712 SF
      3124 Glenview Rd, Glenview, IL 60025
      View Details
    • Value Estimation
      $350,000
      0.19 Acres

      1155 Waukegan Rd

      STORE, RETAIL OUTLET • 0.19 Acres
      1155 Waukegan Rd, Glenview, IL 60025-3080
      View Details
    • Value Estimation
      $1,295,000
      0.46 Acres

      1740 Waukegan Rd

      STORE, RETAIL OUTLET • 0.46 Acres
      1740 Waukegan Rd, Glenview, IL 60025-2157
      View Details
    • Value Estimation
      $385,000
      0.37 Acres

      1834 Glenview Rd

      STORE, RETAIL OUTLET • 0.37 Acres
      1834 Glenview Rd, Glenview, IL 60025-6921
      View Details
    • Value Estimation
      $380,000
      0.36 Acres

      800 Waukegan Rd

      STORE, RETAIL OUTLET • 0.36 Acres
      800 Waukegan Rd, Glenview, IL 60025-4381
      View Details
    • Value Estimation
      $395,000
      0.09 Acres

      1338 Waukegan Rd

      STORE, RETAIL OUTLET • 0.09 Acres
      1338 Waukegan Rd, Glenview, IL 60025-3051
      View Details

    Similar Nearby for Sale

    • $1,450,000

      High-Traffic Milwaukee Avenue Property

      Prime Glenview location ideal for owner-users or redevelopment.
      9850 Milwaukee Ave, Glenview, IL 60025
      View Details
    • $1,225,000
      2,500 SF

      Glenview Executive Office Building

      Prime Glenview location, vacant, 2,500 sq ft.
      1154 Waukegan Rd, Glenview, IL 60025
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    • $599,000
      1,653 SF

      Glenview Restaurant - Prime Location

      High-traffic retail space, sale or lease.
      1320 Waukegan Rd, Glenview, IL 60025
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    • $610,000

      Glenview Residential Development Land Opportunity

      Permit-ready lots for custom homes, delivery Summer 2026.
      1900 E Lake Ave, Glenview, IL 60025
      View Details
    • $445,000

      Glenview Residential Development: Permit-Ready Lots

      Residential development featuring 60 fully improved, permit-ready lots.
      1900 E Lake Ave, Glenview, IL 60025
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    • Contact for pricing
      37,500 SF

      Glenview Office Building For Sale

      Glenview office building with ample parking and flexible lease terms.
      1245-1247 Milwaukee Ave, Glenview, IL 60025
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,194 SF

      Glenview Retail Leasing Opportunity

      Retail space available for lease in Glenview, Illinois.
      3222-3230 Glenview Rd, Glenview, IL 60025
      View Details
    • Contact for pricing
      27,712 SF

      Glenview Warehouse Space Available

      Multiple units, high visibility, Cook County.
      3120 Glenview Rd, Glenview, IL 60025
      View Details
    • $30 SF/Yr
      3,600 SF

      Glenview Retail Space For Lease

      Charming retail space in downtown Glenview, ideal for various businesses.
      1709 Glenview Rd, Glenview, IL 60025
      View Details
    • Contact for pricing

      Glenview Retail Space For Lease

      Combined storefront in a well-populated area, ready for occupancy.
      214 Greenwood Rd, Glenview, IL 60025
      View Details
    • Contact for pricing
      27,712 SF

      Glenview Retail Space Available

      Prime Glenview location, multiple units, ample parking.
      3124 Glenview Rd, Glenview, IL 60025
      View Details
    • Contact for pricing
      20,213 SF

      Glenview Plaza Retail Space

      Large Retail Space Available in Glenview, IL
      1509 Waukegan Rd, Glenview, IL 60025
      View Details

    Property Visit Statistics

    • Visits by month
      21.1k
    • Visitors by month
      16.4k
    • Avg Time on site
      32 min
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    609 Milwaukee Ave
    Glenview, IL 60025-3870
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    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
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