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Palwaukee Plaza 618-698 N Milwaukee Ave 103,688 SF 82% Leased Retail Building Prospect Heights, IL 60070 For Sale

Retail Buildings Illinois Prospect Heights 618-698 N Milwaukee Ave, Prospect Heights, IL 60070

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INVESTMENT HIGHLIGHTS

  • Income-producing retail center with $1,004,000 NOI
  • 82% leased with long-term, diverse tenant mix
  • Excellent regional access via I-294 and proximity to O’Hare Airport
  • Positioned along Milwaukee Avenue with ±58,800 VPD
  • Located in affluent trade area with $150K+ average household income
  • Long-term occupancy with over half of the existing Tenants leasing at the center for a decade or longer

EXECUTIVE SUMMARY

Palwaukee Plaza is a multi-tenant retail center located along North Milwaukee Avenue in northwest suburban Prospect Heights, Illinois (Chicago MSA). The Property was renovated in 1989 and totals 113,801 square feet across three (3) buildings, including approximately 10,550 square feet of second-floor professional office space. The center is situated on a 10.47 acre parcel and zoned B-2: Community Business District. Currently, the center is 82% leased. Palwaukee Plaza features a diverse mix of longstanding tenants including Dollar Tree, Wintrust Bank, Palwaukee Liquor, Rocky's America Grill, Care For Kids Learning Center, Monica’s, Mango’s, Bravo Bakery, Mi Dulce Michoacana, APM Dental, Doggy Daydream, and State Farm, among many others. The center generates a strong in-place NOI of approximately $1,004,000, providing investors with stable day-one cash flow and meaningful upside through lease-up and future out lot development. The Property features multiple access points, monument signage, and a large on-site parking lot with 605 surface spaces. The center is strategically positioned along a high-traffic
commercial corridor surrounded by dense residential neighborhoods and several national retailers including Walmart, LA Fitness,
Home Depot, McDonald’s, Starbucks, O’Reilly Auto Parts, Binny’s Beverage Depot, T.J. Maxx, and Panera Bread, among others

ATTACHMENTS

Palwaukee Plaza, Prospect Heights, IL _Chicago MSA_ - For Sale

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
103,688 SF
Building Class
C
Year Built/Renovated
1978/1989
NOI
$1,391,343 CAD
Percent Leased
82%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.22
Lot Size
11.00 AC
Zoning
B-2
Parking
550 Spaces (4.63 Spaces per 1,000 SF Leased)
Frontage
418’ on S Milwaukee

AMENITIES

  • Bus Line
  • Pylon Sign
  • Signage
  • Signalized Intersection

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 664-622
  • 904 SF
  • Retail
  • In-Line
  • Now
  • 664-654A
  • 2,400 SF
  • Retail
  • In-Line
  • Now
  • 664-660
  • 7,326 SF
  • Retail
  • In-Line
  • Now
  • 664-684
  • 1,125-7,326 SF
  • Retail
  • End Cap
  • Now
  • 664-694
  • 2,280 SF
  • Retail
  • In-Line
  • Now
  • 664-203B
  • 1,030 SF
  • Office
  • -
  • Now
  • 664-204
  • 402 SF
  • Office
  • -
  • Now
  • 664-204A
  • 510 SF
  • Office
  • -
  • Now
Space Size Space Use Position Available
664-622 904 SF Retail In-Line Now
664-654A 2,400 SF Retail In-Line Now
664-660 7,326 SF Retail In-Line Now
664-684 1,125-7,326 SF Retail End Cap Now
664-694 2,280 SF Retail In-Line Now
664-203B 1,030 SF Office - Now
664-204 402 SF Office - Now
664-204A 510 SF Office - Now

664-622

Size
904 SF
Space Use
Retail
Position
In-Line
Available
Now

664-654A

Size
2,400 SF
Space Use
Retail
Position
In-Line
Available
Now

664-660

Size
7,326 SF
Space Use
Retail
Position
In-Line
Available
Now

664-684

Size
1,125-7,326 SF
Space Use
Retail
Position
End Cap
Available
Now

664-694

Size
2,280 SF
Space Use
Retail
Position
In-Line
Available
Now

664-203B

Size
1,030 SF
Space Use
Office
Position
-
Available
Now

664-204

Size
402 SF
Space Use
Office
Position
-
Available
Now

664-204A

Size
510 SF
Space Use
Office
Position
-
Available
Now
1 1

NEARBY MAJOR RETAILERS

Naf Naf Grill
LA Fitness
Starbucks

PROPERTY TAXES

Parcel Number 03-24-200-009-0000 Improvements Assessment $2,007,573 CAD
Land Assessment $2,415,114 CAD Total Assessment $4,422,687 CAD

PROPERTY TAXES

Parcel Number
03-24-200-009-0000
Land Assessment
$2,415,114 CAD
Improvements Assessment
$2,007,573 CAD
Total Assessment
$4,422,687 CAD
(847) 780-8063

Still interested?

Contact the brokers for more information about this property

CONTACTS

  • Listing ID: 39001213

  • Date on Market: 2026-01-07

  • Last Updated:

  • Address: 618-698 N Milwaukee Ave, Prospect Heights, IL 60070

The Retail Property at 618-698 N Milwaukee Ave, Prospect Heights, IL 60070 is currently available for Sale. Contact Frontline Real Estate Partners for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

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Palwaukee Plaza | 618-698 N Milwaukee Ave
(847) 780-8063 x

Palwaukee Plaza | 618-698 N Milwaukee Ave

Matt Tarshis
(847) 780-8063

Andrew Rubin
(224) 628-4005

Zack Pearlstein
(847) 780-8067

Andrew Picchietti
(847) 602-2005

Andrew Slovis
(847) 989-6020

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