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$2,199,000

  • For Sale
  • Active
  • Business
  • 12,000 Sq. Ft.
  • Updated 1 day ago
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Excellent restaurant with 2nd floor apartment for extra income, this is a turn key opportunity on the highly trafficked Restaurant Row on Milwaukee Ave in Wheeling IL. Expansive Full-service restaurant, Separate bar, with gaming and party room on ground level. Huge 3-bedroom apartment on 2nd level already rented out. Basement has another party room, dance floor, bar, 4 walk ins, storage, and bathrooms. Gaming Income is near $100,000 annually. All FF&E included in sale of real estate. Name is not included.

Full Property Details for 241 S Milwaukee Ave

General

  • Price: $2,199,000
  • Taxes: $24,149 (2022)
  • Status: Active
  • Type: Business
  • Source: MRED
  • MLS ID: 12556319
  • Updated: 2/3/2026
  • Added to Site: 7 day(s) ago

Business

  • Business Type: Restaurant
  • Years in Business: 7 to 10 Ye

Interior

  • Interior Features: Accessible Entrance

Location

  • Area: Wheeling
  • County: Cook
  • Driving Directions: Glenview rd to N Milwaukee ave
  • Location Details: Central Business District, Freestanding/Urban

Heating & Cooling

  • Cooling Type: Central Air Conditioning, Central Individual
  • Heating Type: Central Heat/Individual Controls, Forced Air

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Stories/Levels: 2
  • Square Feet: 12,000

Lot Features

  • Lot Size (Sq. Ft.): 71,218
  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 122.47 x 98.81 x 499.43 x 422.17 x 225.33 x 61.04
  • Frontage: Public Road
  • Zoning: COMMR

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Tax Amount: $24,149
  • Tax Year: 2022
  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Operating Stops, Taxes, Insurance, Repairs, Scavenger, Tax Stops

Disclosures and Reports

  • Property ID: 3121010520000

Listed by Berkshire Hathaway HomeServices Chicago

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Listing agents

— 241 S Milwaukee Ave —

  • Berkshire Hathaway HomeServices Chicago

  • Berkshire Hathaway HomeServices Chicago

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

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with our affiliated in-house agency

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

Schools serving 241 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-50.2 mi
Oliver W Holmes Middle School
221 South Wolf Road, Wheeling, IL 60090
6-80.5 mi
Wheeling High School
900 South Elmhurst Road, Wheeling, IL 60090
9-121.9 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 241 S Milwaukee Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/28/2026
Listed
$2,199,000
-0.05%
MLS
11/17/2011
Sold
$2,200,000
—
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 241 S Milwaukee Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$20,113
5%
$60,015
—
2022
$19,182
106%
$60,015
139%
2021
$9,311
3%
$25,130
—
2020
$9,068
-5%
$25,130
-14%
2019
$9,575
-85%
$29,222
-83%
2018
$63,571
282%
$174,197
-4%
2017
$16,629
-66%
$180,977
23%
2016
$49,117
-9%
$147,217
-3%
2015
$53,970
-16%
$151,463
-18%
2014
$64,306
8%
$185,008
—
2013
$59,372
125%
$185,008
110%
2012
$26,367
—
$88,293
—
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 Berkshire Hathaway HomeServices Chicago

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241 S Milwaukee Avenue, Wheeling, IL 60090 (MLS# 12556319) is a Business property. 241 S Milwaukee Avenue is currently listed for $2,199,000 and was received on January 28, 2026. Want to learn more about 241 S Milwaukee Avenue? Do you have questions about finding other Business 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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