Property profile

50 Milwaukee Ave Lake Villa, IL 60046

OFF-MARKET
Office buildings
Property ID
US28-1365866
14,928 SF 1.13 ac lot Built 1998
Individually Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This two-story, 15,000 square foot medical building in Lake Villa, IL, offers exceptional leasing opportunities for healthcare professionals. Located at 50 S Milwaukee Ave, this 1997-built property features seven suites ranging from 625 to 1,950 contiguous square feet, with 6,400 square feet currently vacant. The building boasts a modern elevator, ample parking (35 spaces), and a common area lobby with public restrooms. A new owner is currently enhancing the property with upgrades including new windows, landscaping, and flooring. Tenant improvement allowances are available, and lease rates are competitive, including CAM, garbage/recycling, and heat. Tenants are responsible for electricity and internet. The building's zoning is commercial, situated on one acre of land in Lake County (IL), and is conveniently located near Grand Avenue. Several new tenants have already committed, including a psychotherapy office, sleep disorders center, and home medical equipment company. This is a fantastic opportunity to establish or expand your practice in a thriving medical community. No NNN lease required.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1998
Construction BRICK
Total area 14,928 SF
Lot 1.13 ac (49,223 SF)
APN 06-04-104-029
UPID US28-1365866

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Physician
  • Pediatrician Physician
  • Pediatrician Physician
  • Pediatrician Medical Clinic
  • Pediatrician Medical Clinic

Location

50 Milwaukee Ave Lake Villa, IL 60046-9471
Lake Villa metro Census 861011 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.54M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.33M
Blend (final) Blend
$1.47M

Owner & transaction history

since 2023
Last sale
$1.3M
6 recorded transactions
2024
Price N/A
2024
Price N/A
2023
$1.3M
2022
$400,000
2010
Price N/A
2008
$185.6M

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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