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700 N Milwaukee Ave 11,906 SF Retail Building Wheeling, IL 60090 $5,018,333 CAD ($421.50 CAD/SF)
INVESTMENT HIGHLIGHTS
- PRIME SUBURBAN LOCATION - The Property is near Wolf Road & Lake Cook Road, two major suburban thoroughfares.
- TURNKEY BREWERY - Ideal for owner/users who brew their own beers and want to expand in the suburbs.
- COUNTY TAX INCENTIVE - Under the Class 7A Incentive, the Property is taxed at 10% (instead of the standard 25%) for 5 years with an option to extend.
- FOOD HALL SEATING 160+ & OUTDOOR DECK SEATING 100 - Perfect for an owner/user looking to test pop-up restaurant concepts in a new market.
- LARGE LAND FOOTPRINT - The Property’s footprint is a total of 2.81 acres / 121,404 SF, well suited for expansion or redevelopment.
- NEAR LODGING & RESIDENCES - The Property sits near The Westin Chicago North Shore and Prairie Park Condos, guaranteeing foot traffic.
EXECUTIVE SUMMARY
CBRE, as exclusive agent, is pleased to present an opportunity to lease or acquire fee simple interest in 700 North Milwaukee Avenue (“the Property”) in Wheeling, a village located 45 minutes northwest of Chicago, Illinois.
Built as a brewery and food hall, the Property has indoor seating for 168, while the outdoor deck can hold 100 patrons comfortably. Combined with the 126 surface parking spaces surrounding the building, there is ample room for patrons to spread out and enjoy themselves.
Located near the intersection of Milwaukee Avenue and Wolf Road, the Property is surrounded by condo residents and a variety of retailers offering food & beverage, wellness services, banking, childcare, and lodging.
North of the Property is access to Lake Cook Road, a major thoroughfare that connects it to green and recreation spaces like the Chevy Chase Country Club and the Lake County Forest Preserve.
Built as a brewery and food hall, the Property has indoor seating for 168, while the outdoor deck can hold 100 patrons comfortably. Combined with the 126 surface parking spaces surrounding the building, there is ample room for patrons to spread out and enjoy themselves.
Located near the intersection of Milwaukee Avenue and Wolf Road, the Property is surrounded by condo residents and a variety of retailers offering food & beverage, wellness services, banking, childcare, and lodging.
North of the Property is access to Lake Cook Road, a major thoroughfare that connects it to green and recreation spaces like the Chevy Chase Country Club and the Lake County Forest Preserve.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
11,906 SF
Building Class
B
Year Built
2003
Price
$5,018,333 CAD
Price Per SF
$421.50 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.81 AC
Zoning
C1-3
Parking
126 Spaces (10.58 Spaces per 1,000 SF Leased)
Frontage
251’ on Milwaukee Ave
AMENITIES
- Pylon Sign
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 03-02-200-082-0000 | Improvements Assessment | $23,411 CAD |
| Land Assessment | $216,467 CAD | Total Assessment | $239,879 CAD |
PROPERTY TAXES
Parcel Number
03-02-200-082-0000
Land Assessment
$216,467 CAD
Improvements Assessment
$23,411 CAD
Total Assessment
$239,879 CAD
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