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$480,000 Just Listed
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Property Description
Freestanding storefront building with finished living quarters upstairs, a paved parking lot and a detached garage, on 0.29 acre with 100 feet of frontage on Milwaukee Avenue (US 45). Vacant, immediate occupancy. Please note: this is a mixed-use property, not a single-family house. Cook County classifies it as Class 2-12 mixed-use commercial/residential, and the Village of Wheeling zones it B-3 General Commercial and Office District. Buyer to verify residential occupancy of the second floor, and every intended use, with the Village of Wheeling. Main floor: the front door opens to a front room on the left and a larger room on the right, both with large street-facing display windows. Behind them is a kitchen area with sink and a small pantry, and a half bath sits by the stairs. Upstairs: an open room leads back to a bedroom, a full bath with tub and shower, and a laundry room, with a door out to the balcony over the entry, which has its own exterior stair down to the parking lot. Central air, boiler heat, partial basement. The sale includes the adjoining paved side lot: two parcels, 12,596 SF of land in total. B-3 zoning allows retail, restaurant, personal service, medical and dental office, general office and artist studio uses by right. IDOT counted 24,300 vehicles a day on Milwaukee Avenue at the property in 2025, and a Pace bus stop (Routes 272 and 234) is at the property. Walgreens, Fresh Farms International Market, Chase, Benihana, Scooter's Coffee and the Dundee Road restaurant cluster are within a quarter mile; the Wheeling Metra station is 1.8 miles away and I-294 at Lake Cook Road 3.9 miles. The building parcel is outside the FEMA Special Flood Hazard Area (Cook County parcel data, 2024). Buyers using residential (FHA or conventional) financing should confirm eligibility with their lender before writing an offer. Building size (1,648 SF, Cook County Assessor), lot size and all other figures are from public record or the seller and must be verified by the buyer, including real estate taxes and the 2025 Cook County reassessment.
Full Property Details
Full Property Details for 231 N Milwaukee Ave
General
- Price: $480,000
- Taxes: $7,995 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12765358
- Updated: 9/21/2026
- Added to Site: 3 day(s) ago
Location
- Area: Wheeling
- County: Cook
- Township: Wheeling
- Driving Directions: N on Milwaukee, property on right
- Location Details: Northwest Suburban
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Building Heat
Structural Information
- Stories/Levels: 2
- # of Stores: 1
- Year Built: 1971
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.29
- Lot Size (Sq. Ft.): 12,596
- Lot Dimensions: 130 x 100
- Zoning: RTAIL
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Assessment Year: 1971
- Tax Amount: $7,995
- Tax Year: 2023
Disclosures and Reports
- Property ID: 3024050040000
Listed by RE/MAX Suburban
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Schools
Schools serving 231 N Milwaukee Ave
School Districts:Wheeling Community Consolidated School District 21, Township High School District 214
| Name | Grades | Distance |
|---|---|---|
Walt Whitman Elementary School 133 Wille Avenue, Wheeling, IL 60090 | PK-5 | 0.5 mi |
Oliver W Holmes Middle School 221 South Wolf Road, Wheeling, IL 60090 | 6-8 | 0.6 mi |
Wheeling High School 900 South Elmhurst Road, Wheeling, IL 60090 | 9-12 | 1.9 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 231 N Milwaukee Ave
Date
Details
Price
Change
Source
9/21/2026
Listed
$480,000
200%
MLS
3/15/2017
Sold
$160,000
—
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 231 N Milwaukee Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$622
—
$1,699
-8%
2023
$622
5%
$1,855
—
2022
$593
-55%
$1,855
-48%
2021
$1,329
3%
$3,587
—
2020
$1,294
10%
$3,587
—
2019
$1,175
3%
$3,587
15%
2018
$1,136
-33%
$3,114
—
2017
$1,685
62%
$3,114
—
2016
$1,039
4%
$3,114
11%
2015
$997
2%
$2,799
—
2014
$973
8%
$2,799
—
2013
$898
-3%
$2,799
-10%
2012
$930
—
$3,114
—
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 231 N Milwaukee Ave
231 N Milwaukee Avenue, Wheeling, IL 60090 (MLS# 12765358) is a Commercial property. 231 N Milwaukee Avenue is currently listed for $480,000 and was received on September 21, 2026. Want to learn more about 231 N 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.

