Property profile

1600 N Milwaukee Ave Vernon Hills, IL 60061

FOR SALE
Commercial real estate
Property ID
US28-2529228
1.93 ac lot
Individually Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional retail property, known as the Shoppes of Gregg's Landing, presents a unique leasing opportunity in the thriving Vernon Hills, Illinois market. Located at 1600 N Milwaukee Ave, this single-tenant building offers a substantial 19,150 square feet of vacant space, perfect for a variety of retail uses. Situated on a generous 1.93-acre lot, the property provides ample space for customer parking and potential expansion. The building's location in Lake County offers excellent visibility and accessibility, benefiting from high traffic counts on Milwaukee Avenue. The property is categorized as commercial retail and presents a blank canvas for a discerning tenant seeking a prominent location in a vibrant community. The address is easily accessible from major roadways, ensuring convenient access for both customers and employees. This is an exceptional opportunity to establish a strong retail presence in a high-demand area. The entire 19,150 square feet is currently available for lease, providing a significant footprint for a large-scale operation or the potential to subdivide for multiple smaller tenants. The property's size and location make it an ideal choice for businesses seeking high visibility and ample space. Interested parties are encouraged to inquire for further details and leasing information. The property is located in the 60061 zip code.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 1.93 ac (83,984 SF)
APN 11-33-212-001
UPID US28-2529228

Cap rate & NOI

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

Location

1600 N Milwaukee Ave Vernon Hills, IL 60061
Vernon Hills metro Census 863904 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$500k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$500k

Owner & transaction history

since 2024
3 recorded transactions
2024
Price N/A
2022
Price N/A
2021
$3.2M

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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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