Auction - REIT Sale | Former Pick ‘n Save 2931 S Chicago Ave 60 196 pi² Commerce de détail Immeuble South Milwaukee, WI 53172 141 610 $ CAD (2,35 $ CAD/pi²)

Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in a vacant, free-standing retail property located at 2931 S Chicago Avenue in South Milwaukee, Wisconsin (the “Property”). Formerly occupied by Pick ’n Save, the Property is being offered significantly below replacement cost, presenting investors and owner-users with a compelling opportunity to acquire a highly visible retail asset with substantial repositioning and value-add potential.
Constructed in 1967 and renovated in 2005, the Property consists of a ±60,196-square-foot single-story retail building situated on an expansive ±5.65-acre parcel (±246,357 SF). The site features 249 surface parking spaces, two points of ingress/egress, monument signage, and excellent visibility along S Chicago Avenue (Highway 32), one of South Milwaukee’s primary commercial corridors with ±11,306 vehicles per day (VPD). The Property is positioned at the signalized entrance to Grant Park Plaza, immediately adjacent to a Walgreens-anchored shopping center and a free-standing McDonald’s, benefiting from strong consumer traffic and established retail synergies. Previously occupied by Pick ’n Save through December 2025, the Property presents an immediate lease-up, redevelopment, or owner-user opportunity. Its large footprint, functional layout, and expansive parking field make it well-suited for a variety of retail, grocery, fitness, entertainment, medical, educational, self-storage conversion, and service-oriented uses (CoStar estimated retail rents of $17–$21/SF NNN). The Property is zoned C-2 (Commercial District) and M-2 (Manufacturing District), with the existing retail use permitted by conditional use approval, providing flexibility for a broad range of commercial and industrial-oriented occupancies.
The Property is located in South Milwaukee, an established Milwaukee County community situated along the western shoreline of Lake Michigan ±12-mi from Downtown Milwaukee. South Milwaukee serves as a key retail and service destination for residents throughout southern Milwaukee County, supporting surrounding communities including Cudahy, St. Francis, Oak Creek, and Franklin. The area functions as a daily-needs retail hub, benefiting from a dense residential population base and strong commuter traffic throughout the Milwaukee metropolitan area. Healthcare demand is anchored by nearby medical providers and healthcare facilities, which provide a significant employment base and consistent daytime activity throughout the trade area. As one of South Milwaukee’s most established commercial corridors, the area is supported by a concentration of national and regional retailers including Walgreens, McDonald’s, Walmart, Meijer, and numerous neighborhood-serving businesses. The immediate trade area is further anchored by schools, municipal facilities, recreational amenities, and established residential neighborhoods that generate year-round consumer demand. Regional connectivity is provided by Hwy 32 (Chicago Avenue), directly in front of the Property, as well as I-794, I-94, and I-43, which provide convenient access throughout Milwaukee County and the broader Midwest region. The Property is also located ±5-mi from Milwaukee Mitchell International Airport, one of Wisconsin’s primary transportation and employment hubs. The surrounding ±5-mi trade area is home to more than 120k residents with an average household income exceeding ±$90,000, providing a substantial consumer base for retail, service, medical, entertainment, and commercial users. Collectively, these fundamentals reinforce the Property’s long-term viability for re-tenanting, adaptive reuse, or redevelopment, offering investors a strategic foothold within one of southeastern Wisconsin’s most established infill retail markets.