Wheeling, IL Restaurants for sale

Updated: Oct 28, 2025

Free-Standing Restaurant with Outdoor Seating

260 S Milwaukee Avenue, Wheeling, IL 60090

$799,900

3,255 sqft 0.73 AC lot

Freestanding restaurant on a 32,000 sq. ft. (approx. 3/4 acre) parcel with a 3,255 sq. ft. building
Indoor dining for 40+ guests plus outdoor seating for an additional 40+ clients
30 parking spaces and a two‑car attached garage
Fully equipped commercial kitchen: 30‑pan Middleby Marshall rotating oven with six shelves
Two walk‑in coolers, walk‑in freezer, and retail display cases plus refrigeration units

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This listing looks promising.

Here's a quick look at some key insights for

260 S Milwaukee Avenue, Wheeling, IL 60090

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Est. Cap Rate

6.8%
Above avg (5.9%)
Est. NOI

$54K
Annual
Price @ 7% Cap

$778K
Suggested
Last Sold

Jun 1999
$100K
Property Type

Retail Stores
Built 1999

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Updated: Oct 28, 2025

Free-Standing Restaurant with Outdoor Seating

260 S Milwaukee Avenue, Wheeling, IL 60090

$799,900

0.73 AC lot

Profitable Landmark Business: Established bakery & deli (Chicago Bagel & Bialy) with over 43 years of operation and over $1 million in gross sales in 2024.
Prime Real Estate: Located on Wheeling's Restaurant Row with high traffic and excellent visibility.
Fully Equipped Restaurant: State‑of‑the‑art kitchen with Middleby Marshall rotating oven, walk‑in coolers/freezer, and all necessary fixtures for immediate operation.
Spacious and Versatile: 3255 sq. ft. building on a 32,000 sq. ft. lot with indoor and outdoor dining, 30 parking spaces, and potential for drive‑thru addition.
Expansion Opportunities: Potential to acquire an adjacent 1/4‑acre parcel from the Village of Wheeling for further growth.

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Sports Bar and Dance Venue

698 North Milwaukee Avenue, Prospect Heights, IL 60070

$1,500,000

Established sports bar/dance venue with 365 seats, including 50-seat patio, and 4AM daily liquor license.

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High Traffic Restaurant with Gaming

241 S Milwaukee Avenue, Wheeling, IL 60090

Contact for pricing

12,000 sqft

Restaurant with gaming in high-traffic location for sale.

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Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Based on your search, we've compiled 15 Potential Opportunities for your consideration. Besides 4 Active listings in Wheeling, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 3 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Freestanding Drive-Through Restaurant

720 E Rand Road, Mount Prospect, IL 60056

$1,350,000

2,533 sqft 0.54 AC lot

Masonry restaurant building with a commercial kitchen, walk-in cooler, and included furniture, fixtures, and equipment.

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Freestanding Restaurant with Drive-Thru

720 E Rand Road, Mount Prospect, IL 60056

$1,350,000

0.54 AC lot

Freestanding masonry restaurant with existing drive-thru capability and a fully built-out commercial kitchen for turnkey operation.

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Freestanding Restaurant Building

301 N. Milwaukee Avenue, Buffalo Grove, IL 60089

Contact for pricing

8,963 sqft 0.91 AC lot

Freestanding restaurant building with approximately 8,963 square feet, recently renovated and supported by extensive surface parking.

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Turnkey Mexican Restaurant

799 Buffalo Grove Rd, Buffalo Grove, IL 60089

$188,000

Fully operational Mexican restaurant sold furnished and equipped, with liquor and gaming licenses renewed through 2025.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Commercial Land with Road Frontage

20420 N Rand Road, Deer Park, IL 60074

$2,500,000

1.94 AC lot

PUD-zoned commercial land with Rand Road frontage and natural gas availability.

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Mundelein, IL Commercial Land

331 Plaza Circle lot: 4, Mundelein, IL 60060

$286,000

0.43 AC lot

Commercial land available in Mundelein, Illinois.

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Commercial Land in Itasca, IL

100 S Walnut Street, Itasca, IL 60143

Contact for pricing

0.17 AC lot

Commercial land available for sale in Itasca, Illinois.

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Addison Land For Sale

133 E Lake Street, Addison, IL 60101

$999,999

0.89 AC lot

Located in the heart of Addison, zoned B2.

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Off-Market Properties in Wheeling, IL

Consider similar Off-Market properties in Wheeling, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Restaurants

82 Dundee Rd, Wheeling, IL 60090

Value Estimation by Request

16,000 sqft

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Lifestyle centers

375 Dundee Rd, Wheeling, IL 60090

Value Estimation by Request

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Restaurants

10 Milwaukee Ave, Wheeling, IL 60090

Value Estimation by Request

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Wheeling, IL Restaurants Market Trends and Statistics

Explore 7 restaurants for sale in Wheeling, IL, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 15,255 square feet of properties for sale, with an estimated market value of $3,099,800.

Sale prices for restaurant properties in Wheeling, IL start at $799,900, averaging $1,033,266, and reaching up to $1,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
60090	$799.9K

Neighborhood

Average Price

60090

$799.9K

Wheeling, IL Restaurants for Sale

260 S Milwaukee Avenue, Wheeling, IL 60090

260 S Milwaukee Avenue, Wheeling, IL 60090

698 North Milwaukee Avenue, Prospect Heights, IL 60070

241 S Milwaukee Avenue, Wheeling, IL 60090

Opportunities in Nearby Cities

720 E Rand Road, Mount Prospect, IL 60056

720 E Rand Road, Mount Prospect, IL 60056

301 N. Milwaukee Avenue, Buffalo Grove, IL 60089

799 Buffalo Grove Rd, Buffalo Grove, IL 60089