322 Milwaukee Ave Wheeling, IL 60090

Property Details for 322 Milwaukee Ave

Year built

1927

Construction

FRAME

Lot size

0.31 lot acres

Property size

3,125 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

03-02-404-021

APU

302404021

Description

This exceptional 3,300 square foot commercial property, located at 322 N Milwaukee Avenue in Wheeling, Illinois, presents a unique investment opportunity. The building underwent a complete rehabilitation in 2023 and 2024, encompassing a comprehensive renovation of both the commercial space and a three-bedroom apartment building situated on the same lot. Improvements include a new steel foundation, a waterproof seal, and a sump pump, ensuring structural integrity and protection against water damage. The roof, ramp, landscaping, garbage enclosure, HVAC system, and all mechanical systems were also completely replaced or installed during the extensive renovation. All interior spaces have been modernized. The property boasts a highly desirable B-3 commercial zoning classification, offering a wide range of potential uses for prospective buyers. The low property tax rate adds to the financial appeal. The building is currently occupied, so please do not disturb the existing business. This turnkey property is ready for immediate occupancy and offers significant potential for immediate return on investment. The combination of commercial space and residential rental income provides a diversified revenue stream. This is a rare opportunity to acquire a meticulously renovated property in a prime Wheeling location.

Location Insight

City

Wheeling

County

Cook

State

Illinois

Longitude

-87.911

Latitude

42.1448

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments