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Financial
Distress signals
Property profile

1600 N Milwaukee Ave Vernon Hills, IL 60061

FOR SALE
Commercial real estate
Property ID
US28-2529228
1.93 ac lot
Last sale Aug 2026 · $3,100,000
Entity Owned Owner of record is a legal entity (LLC / corporation). Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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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…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$100k
Tax billed · 2023
Assessed value$1.12M
Assessed land$475k
Assessed improvement$643k
Effective rate8.97%

Value estimate

· Oct 2026
$500k
$450k – $550k
AI approach$500k
NOI build-up
Gross scheduled income$287k
Vacancy & credit loss−$7k
Operating expenses−$84k
NOI · 5.11% cap applied$196k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$181/SF
County average, outlier-cleaned · 196 recorded sales of this use type
Observed band · Q1–Q3$96 – $317

Cap rate analysis

How does the asset earn?
5.11%
$196k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionLAKE

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply17.9
Wholesale Shop16.1
HVAC Service13.8

Location

1600 N Milwaukee Ave Vernon Hills, IL 60061
County assessor Recorded deeds · 4 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
560 Bunker, Vernon Hills, IL 60061-1842 $7,887,000 Sep 2025 No data
401 Sullivan, Vernon Hills, IL 60061-1959 $1,700,000 Sep 2025 No data
875 Woodlands, Vernon Hills, IL 60061-4168 $12,952,000 Jul 2025 No data
371 Townline Rd, Vernon Hills, IL 60061-4336 $2,000,000 Jul 2025 No data
200 Fairway, Vernon Hills, IL 60061-1861 $31,010,500 Jan 2025 No data
100 Fairway, Vernon Hills, IL 60061-1859 $31,010,500 Jan 2025 No data
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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