- For Sale $2,000,000
- Property Type Office
- Property Size 23,500 SF
- Lot Size 0.82 Acre
- Additional Rent Contact for pricing
- Date Updated Dec 10, 2024
As exclusive agent, Versa Real Estate Services is offering a for sale opportunity to acquire the fee simple interest at 1040 S. Milwaukee Ave in Wheeling, Illinois. The property is located on South Milwaukee Ave just south of Dundee Rd and adjacent to Chicago Executive Airport. 1040 S Milwaukee is a 2-story, multi-tenant office building built in 1980 and is positioned on 1.84 acres of land. The property is 23,500 square feet and currently 95% occupied. Currently, the building is leased to tenants well below market at an effective average gross rent of $8.43 PSF with all tenants on a month-to-month basis. 1040 S Milwaukee Ave is uniquely positioned to allow an owner/user to occupy 100% of the 23,500 SF building or allow an investor to make leasing improvements to the building and increase rents significantly. The building site also includes a land parcel equal to 0.87 acres in front of the building that could be redeveloped or repurposed.
1040 S Milwaukee Ave is located in Wheeling, Illinois and approximately 2.6 miles from Willow Rd and the I-294 intersection. The building is in close proximity to the Chicago Executive Airport and near the historic strip, restaurant row, with over 20 unique dining options. 1040 S Milwaukee Ave is part of the Class B market in the Central North Corridor. Overall, the Central North Corridor consists of 39,600,000 SF with a vacancy rate of 13.8%. Unlike other areas of Chicagoland, office development near 1040 S. Milwaukee has not outpaced demand and enjoys health occupancy.
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Contacts
Location
Getting Around
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Walk Score ®
21/100 Car-Dependent -
Transit Score ®
23/100 Minimal Transit -
Bike Score ®
42/100 Somewhat Bikeable
- City Wheeling, IL
- Zip Code 60090
- Market Chicago
Points of Interest
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Deerfield
4.10 miles
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Mount Prospect
4.44 miles
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Arlington Heights
5.09 miles
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Des Plaines
5.51 miles
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Arlington Park
5.94 miles
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Ravinia
6.64 miles
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Ravinia Park
6.70 miles
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Highland Park
6.73 miles
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Palatine
7.76 miles
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Fort Sheridan
7.77 miles
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Citgo
0.76 miles
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Marathon
0.93 miles
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BP
1.36 miles
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Shell
2.30 miles
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Arco
2.37 miles
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7-Eleven
2.43 miles
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True North Shell
2.63 miles
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ChargePoint
3.36 miles
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Tesla Supercharger
3.53 miles
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volta
5.46 miles
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Parking Garage
2.84 miles
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Yellow Parking Lot
2.86 miles
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Green Parking Lot
2.94 miles
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West parking lot
3.06 miles
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East parking lot
3.12 miles
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Orange Parking Lot
3.12 miles
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Northbrook Metra Station
3.56 miles
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Boat Parking
3.59 miles
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Pace Buffalo Grove Park & Ride
4.13 miles
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Glen Town Center Parking
4.16 miles
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Ramada Plaza Chicago North Shore
0.46 miles
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Candlewood Suites
1.02 miles
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Holiday Inn Express & Suites Prospect Heights
1.07 miles
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Motel 6 Prospect Heights
1.17 miles
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Hilton Chicago/Northbrook
1.52 miles
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Crowne Plaza Chicago-Northbrook
1.60 miles
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The Westin Chicago North Shore
2.22 miles
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Holiday Inn Express & Suites Chicago-Deerfield/Lincolnshire
2.36 miles
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Courtyard Chicago Glenview/Northbrook
2.67 miles
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Embassy Suites by Hilton Chicago North Shore Deerfield
2.68 miles
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Yu's Mandarin
0.77 miles
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McDonald's
0.85 miles
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Jimmy John's
0.87 miles
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Dunkin'
0.87 miles
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Subway
0.94 miles
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Bob Chinn's Crab House
0.98 miles
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Superdawg Drive In
1.05 miles
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Chicago Bagel & Bialy II
1.13 miles
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D'Agostino's Pizzeria Wheeling
1.17 miles
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Rise n Dine Pancake Cafe
1.31 miles
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Wood Oaks Junior High School
1.05 miles
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Harper College Northeast Center
1.07 miles
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Whitman Elementary School
1.27 miles
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Oliver W Holmes Middle School
1.33 miles
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Robert Frost Elementary School
1.41 miles
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Saint Joseph School
1.68 miles
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Saint Johns School
1.74 miles
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Mark Twain Elementary School
1.84 miles
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Saint Alphonsus School
1.87 miles
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West Northfield School
1.90 miles
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KinderCare
3.48 miles
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Riverwoods Montessori School
4.08 miles
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Knowledge Beginnings
4.38 miles
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Kensington School of Glenview
4.89 miles
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Kiddie Garden Child Care Center
4.99 miles
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Deerfield Montessori School
5.02 miles
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Ravinia Nursery School
5.08 miles
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Children's Land Learning Center
5.13 miles
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Glenview Montessori School
5.40 miles
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Domowe Przedszkole w Des Plaines
5.79 miles
Frequently Asked Questions
The space currently listed for sale at 1040 S Milwaukee Ave asks for $2,000,000.
1040 S Milwaukee Ave totals 23,500 square feet.
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Versa Real Estate Services