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$1,895,000

  • For Sale
  • Active
  • Commercial
  • 26,000 Sq. Ft.
See This Home
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Armchair investment opportunity! Prime office/retail 2 -story building for sale on busy Milwaukee rd.21! Build in 1967, good condition! Perfect regional location, only 5 minutes off Willow rd. and I-294.next to Chicago Executive Palwaukee airport! 23 Private suites with variety of sizes and configuration from 300 SQ FT to 2700 SQ FT.! 60 parking spots generated extra income! High occupancy rate, only 3 units currently vacant! ALL units have private entrances, reception area 2-3 offices, closets. Some has storage, washroom, kitchen and conference room. Ideal for variety business: medical/dental, attorney, CPA, Real Estate, contractors. Building has elevator, bathrooms on each floor, central air and plenty of parking spaces. Great road exposure!!! Ready for new owner!

Full Property Details for 1040 S Milwaukee Ave

General

  • Price: $1,895,000
  • Taxes: $98,549 (2022)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12190640
  • Updated: 5/10/2025
  • Added to Site: 471 day(s) ago

Interior

  • Interior Features: Common Meeting Room(s), Employee Kitchen, Freight Elevator(s), Passenger Elevator(s), Inside Corridor(s), Janitorial Service, Multi-Tenant, Private Restroom(s), Public Restroom(s), Storage Inside, Laundry Room
  • Flooring: Carpet, Tile, Wood

Additional Information

  • Security/Safety: Sprinklers (Wet)

Location

  • Area: Wheeling
  • County: Cook
  • Township: Wheeling
  • Driving Directions: 1040 S.Milwaukee ave. located North of Willow rd. and South of Hints
  • Location Details: Northwest Suburban, Office Park, Public Transport Avail, Empowerment Zone, In City Limits, High Traffic Area

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Forced Air, Gas

Utilities

  • Onsite: Electricity Available, Natural Gas Available, Water Available

Structural Information

  • Construction: Brick, Concrete
  • Exterior Const.: Brick, Concrete
  • Foundation: Concrete Perimeter
  • Drive-In Doors: 1
  • Sub-Flooring: Carpet, Tile, Wood
  • Stories/Levels: 3
  • Square Feet: 26,000
  • Current Bldg. Use: Commercial
  • Year Built: 1967
  • Built Before 1978: Yes

Unit Information

  • # Tenants: 20
  • Extra Storage Avail: Yes

Lot Features

  • Lot Size (Sq. Ft.): 40,300
  • Lot Dimensions: 201 x 200
  • Frontage: City Street, Frontage Road, State Road
  • Potential Use: Commercial, Office, Retail
  • Zoning: INDUS

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Operating Expenses: $137,662
  • Security Deposit: Sprinklers-Wet
  • Assessment Year: 1967
  • Tax Amount: $98,549
  • Tax Year: 2022
  • Tenant Pays: Air Conditioning, Electricity, Heat, Insurance

Disclosures and Reports

  • Property ID: 3132000160000

Listed by Core Realty & Investments, Inc

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Listing agent

— 1040 S Milwaukee Ave —

  • Core Realty & Investments, Inc

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NMLS#: 1598647

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 1040 S Milwaukee Ave

School Districts:Wheeling Community Consolidated School District 21, Township High School District 214
NameGradesDistance
Walt Whitman Elementary School
133 Wille Avenue, Wheeling, IL 60090
PK-51.3 mi
Oliver W Holmes Middle School
221 South Wolf Road, Wheeling, IL 60090
6-81.3 mi
Wheeling High School
900 South Elmhurst Road, Wheeling, IL 60090
9-122.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1040 S Milwaukee Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/05/2025
Price Reduced
$1,895,000
-4.05%
MLS
10/16/2024
Listed
$1,975,000
-1.25%
MLS
10/29/2013
Sold
$2,000,000
—
Public Record
Get Price Alerts and Save Property
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 for 1040 S Milwaukee Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$38,207
5%
$114,003
—
2022
$36,438
-21%
$114,003
-9%
2021
$46,181
-10%
$124,643
-13%
2020
$51,432
10%
$142,526
—
2019
$46,702
50%
$142,526
67%
2018
$31,221
2%
$85,551
—
2017
$30,585
7%
$85,551
—
2016
$28,543
-1%
$85,552
6%
2015
$28,859
3%
$80,990
—
2014
$28,142
8%
$80,964
—
2013
$26,024
7%
$81,092
-1%
2012
$24,359
—
$81,570
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Core Realty & Investments, Inc

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Listed by Dawn McKenna Group

1040 S Milwaukee Avenue, Wheeling, IL 60090 (MLS# 12190640) is a Commercial property. 1040 S Milwaukee Avenue is currently listed for $1,895,000 and was received on October 16, 2024. Want to learn more about 1040 S Milwaukee Avenue? Do you have questions about finding other Commercial real estate for sale in Wheeling? You can browse all Wheeling real estate or contact a Coldwell Banker agent to request more information.

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