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    Prospect Heights, IL
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    Prospect Heights, IL Retail Properties & Spaces for Sale

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    Mount Prospect, IL Arlington Heights, IL Buffalo Grove, IL Shawano, WI Des Plaines, IL Palatine, IL Glenview, IL Arlington Hts, IL
    Mixed-Use Property on Milwaukee Avenue
    Updated: Aug 4, 2020
    Mixed-Use Property on Milwaukee Avenue

    231 N Milwaukee Ave, Wheeling, IL 60090

    $429,000
    1,648 sqft 0.30 AC lot
    High‑traffic location: Over 30,000 daily traffic count on N Milwaukee Ave.
    Large lot size: 13,000 sq ft with 100‑foot frontage on N Milwaukee Ave.
    Flexible zoning: Zoned B‑3, allowing for commercial, office, and mixed residential use.
    Ample parking: Room to park 20 cars.
    Excellent visibility: Located in a choice location on N Milwaukee Ave.
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    This listing looks promising.

    Here's a quick look at some key insights for

    231 N Milwaukee Ave, Wheeling, IL 60090

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    • Est. Cap Rate

      6.5%
      Above avg (5.9%)

    • Est. NOI

      $28K
      Annual

    • Price @ 7% Cap

      $397K
      Suggested

    • Property Type

      Miscellaneous (Residential)
      Built 1971
    View Property Analytics
    Strip Shopping Center Property
    Updated: Apr 20
    Strip Shopping Center Property

    55 South Wolf Road, Prospect Heights, IL 60070

    Contact for pricing
    27,123 sqft
    27,123 SF Ascot Shopping Center available through an online auction event on RI Marketplace
    Online auction runs June 8, 2026 through June 10, 2026
    Auction involves the Ascot Shopping Center and a separate +27,123 SF shopping center listed as being directly across the intersection
    View details
    Multi-Tenant Retail Center
    Multi-Tenant Retail Center

    119-145 N Milwaukee Avenue, Wheeling, IL 60090

    Contact for pricing
    16,355 sqft

    Newer 2004 multi-tenant retail center is 91% occupied and features pylon signage along Milwaukee Avenue.

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    Prime Location Automotive Hub
    Prime Location Automotive Hub

    851 E Palatine Rd, Wheeling, IL

    Contact for pricing
    7,968 sqft 0.43 AC lot

    Strategic location with high traffic and convenience near I-294.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Freestanding Live-Work Building
    Freestanding Live-Work Building

    322 N Milwaukee, Wheeling, IL 60090

    Contact for pricing

    Completely remodeled freestanding building with large parking, flexible first-floor space, and an updated apartment upstairs.

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    Based on your search, we've compiled 57 Potential Opportunities for your consideration. Besides 5 Active listings in Prospect Heights, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 44 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.

    Net Leased Bank Building
    Net Leased Bank Building

    401 DEERFIELD PKWY, Buffalo Grove, IL 60089

    $2,812,324
    4,680 sqft

    Single-tenant Huntington Bank property on a signalized corner with multiple renewal options and documented rental escalations.

    View details
    Turnkey Salon Business Opportunity
    Turnkey Salon Business Opportunity

    1101 Weiland Road, Buffalo Grove, IL 60089

    $35,000
    2.32 AC lot

    Established salon for sale in prime location with lease transfer.

    View details
    Industrial Warehouse with Office
    Industrial Warehouse with Office

    3075-3085 Commercial Ave, Northbrook, IL 60062

    Contact for pricing
    39,093 sqft

    Warehouse includes new LED lighting, four interior docks, 18' clear height, plus office and showroom space with 46 parking spots.

    View details
    Mixed-Use Property with Diversified Income
    Mixed-Use Property with Diversified Income

    1310 Shermer Rd, Northbrook, IL 60062

    Contact for pricing
    57,456 sqft

    57,456 SF mixed-use property with long-term tenants.

    View details

    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 Near Abt Electronics
    Commercial Land Near Abt Electronics

    1223 Milwaukee Avenue, Glenview, IL 60025

    $795,000
    0.84 AC lot

    0.835 acre commercial land for sale on Milwaukee Road.

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    Land in Prime Deer Park Location
    Land in Prime Deer Park Location

    20406 N Rand Road, Deer Park, IL 60047

    $1,000,000
    1.79 AC lot

    1.79 acres of commercial land in Deer Park, Illinois.

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    Land in Prime Deer Park Location
    Land in Prime Deer Park Location

    20412 N Rand Road N, Deer Park, IL 60047

    $4,446,000
    4.46 AC lot

    4.46 acres of commercial land with frontage on Rand Road.

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    Rand Road Development Opportunity
    Rand Road Development Opportunity

    20420 N Rand Road, Deer Park, IL 60074

    $2,500,000
    1.94 AC lot

    1.91 AC land with Rand Road frontage near retail.

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    Off-Market Properties in Prospect Heights, IL

    Consider similar Off-Market properties in Prospect Heights, 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.

    1201 Wolf Rd
    GAS STATION

    1201 Wolf Rd, Prospect Heights, IL 60070-1754

    Value Estimation by Request
    0.58 AC lot
    View details
    1200 Riv Rd
    RETAIL STORES (PERSONAL SERVICES)

    1200 Riv Rd, Prospect Heights, IL 60070

    $2,285,000
    Estimated value
    0.84 AC lot
    View details
    1251 Wolf Rd
    AUTO REPAIR, GARAGE

    1251 Wolf Rd, Prospect Heights, IL 60070

    Value Estimation by Request
    0.64 AC lot
    View details
    1211 Wolf Rd
    RETAIL STORES (PERSONAL SERVICES)

    1211 Wolf Rd, Prospect Heights, IL 60070-1754

    $925,000
    Estimated value
    0.46 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.65 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.06 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.06 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    1 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    1 Elmhurst Rd, Prospect Heights, IL 60070-1509

    Value Estimation by Request
    0.07 AC lot
    View details
    604 Milwaukee Ave
    STORE, RETAIL OUTLET

    604 Milwaukee Ave, Prospect Heights, IL 60070

    $565,000
    Estimated value
    10.70 AC lot
    View details
    6 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    6 Elmhurst Rd, Prospect Heights, IL 60070-1560

    Value Estimation by Request
    0.47 AC lot
    View details
    710 Elmhurst Rd
    RETAIL STORES (PERSONAL SERVICES)

    710 Elmhurst Rd, Prospect Heights, IL 60070-1304

    Value Estimation by Request
    0.64 AC lot
    View details
    2 Wolf Rd
    RETAIL STORES (PERSONAL SERVICES)

    2 Wolf Rd, Prospect Heights, IL 60070-2600

    Value Estimation by Request
    1,120 sqft 0.29 AC lot
    View details
    4 Elmhurst Rd
    STORE, RETAIL OUTLET

    4 Elmhurst Rd, Prospect Heights, IL 60070-1570

    Value Estimation by Request
    0.47 AC lot
    View details

    Prospect Heights, IL Retail Properties & Spaces Market Trends and Statistics

    Explore 49 retail properties & spaces for sale in Prospect Heights, IL, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 1,648 square feet of properties for sale, with an estimated market value of $429,000.

    Sale prices for stores in Prospect Heights, IL start at $429,000, averaging $429,000, and reaching up to $429,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Shopping centers 3

    Demographics Overview

    Population 16K
    Population Growth (5Y) -3.1%
    Median Household Income $91,210
    College Educated 48.4%

    Taxes & Financing

    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Cook County

    New Delisted

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    Most Searched ZIP Codes in Prospect Heights, IL

    • 60090
    • 60070

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