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$485,000 Contingent
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Property Description
MULTIPLE OFFERS Received, Highest and best due Thursday October 30th by 9am. This income-producing, front-facing 2-story greystone and brick mixed-use building is the perfect opportunity for an investor or owner-occupant. The property features an 1,800 sq. ft. first floor with original woodwork, reception area, two private offices, and a spacious meeting room-ideal for an accounting firm, law practice, insurance agency, contractor, or similar business. A rear storage room and finished basement, laundry area, and additional storage provide excellent functionality. The second floor offers two charming apartments (front and rear), each with a large living room, eat-in kitchen, one bedroom, and a full bath. The front unit boasts a beautiful modern kitchen and bathroom. Multiple rear parking spaces add convenience and value. Located just minutes from the Jefferson Park Transit Center (Metra UP-Northwest Line, CTA Blue Line, and bus terminal) with easy access to I-90 and I-94, this property combines timeless character with unbeatable accessibility. Pride of ownership shines throughout-making this an exceptional opportunity you don't want to miss!
Full Property Details
Full Property Details for 5940 N Milwaukee Ave
General
- Price: $485,000
- Taxes: $8,018 (2023)
- Status: Contingent
- Type: Commercial
- Source: MRED
- MLS ID: 12495889
- Updated: 11/7/2025
- Added to Site: 164 day(s) ago
Interior
- Interior Features: Common Meeting Room(s)
Location
- Area: CHI - Norwood Park
- County: Cook
- Township: Jefferson
- Driving Directions: Central Ave N to Milwaukee Ave then N to 5940
- Location Details: Chicago Northwest, Mixed-Use Area
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Forced Air, Gas
Structural Information
- Stories/Levels: 2
- Current Bldg. Use: Commercial
- Year Built: 1952
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 2
- Units w/Range/Oven: 2
- # Dryers: 1
Lot Features
- Lot Size (Sq. Ft.): 2,600
- Lot Dimensions: 2600
- Frontage: City Street
- Potential Use: Commercial
- Zoning: COMMR
Financial Considerations
- Lease Price: $1
- Insurance Fee: $1,800
- Assessment Year: 1952
- Tax Amount: $8,018.65
- Tax Year: 2023
Disclosures and Reports
- Property ID: 13053040310000
Listed by Realty of America, LLC
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Schools
Schools serving 5940 N Milwaukee Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Hitch Elementary School 5625 North McVicker Avenue, Chicago, IL 60646 | PK-8 | 0.4 mi |
Taft High School 6530 West Bryn Mawr Avenue, Chicago, IL 60631 | 9-12 | 0.7 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5940 N Milwaukee Ave
Date
Details
Price
Change
Source
10/22/2025
Listed
$485,000
4.3%
MLS
9/29/2021
Sold
$465,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 5940 N Milwaukee Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,019
3%
$38,005
—
2022
$7,817
2%
$38,005
—
2021
$7,642
16%
$38,005
29%
2020
$6,560
-2%
$29,446
-12%
2019
$6,723
2%
$33,462
—
2018
$6,610
-9%
$33,462
-1%
2017
$7,289
7%
$33,861
—
2016
$6,782
4%
$33,861
-5%
2015
$6,532
6%
$35,644
8%
2014
$6,137
2%
$33,075
—
2013
$6,016
1%
$33,075
—
2012
$5,935
—
$33,075
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 5940 N Milwaukee Ave
5940 N Milwaukee Avenue, Chicago, IL 60646 (MLS# 12495889) is a Commercial property. 5940 N Milwaukee Avenue is currently listed for $485,000 and was received on October 22, 2025. Want to learn more about 5940 N Milwaukee Avenue? Do you have questions about finding other Commercial real estate for sale in Norwood Park? You can browse all Norwood Park real estate or contact a Coldwell Banker agent to request more information.

