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550 S Milwaukee Avenue, Wheeling, IL 60090
$1,849,000
550 S Milwaukee Avenue, Wheeling, IL 60090View this property at 550 S Milwaukee Avenue, Wheeling, IL 60090
550 S Milwaukee AvenueWheelingIL60090
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Property Description
USE FOR A RESTAURANT OR REDEVELOP TO SUIT YOUR NEEDS! Prime location located in Wheeling's Restaurant Row. Fantastic traffic counts, approximately 7300 square feet with custom-built high-quality finishes and situated on 2.43 acres. With a large main dining area, full-service bar, main and prep kitchen plus 3 private party rooms, 3 walk-in coolers-this property checks it all for a high-quality restaurant location with fantastic traffic count exposure, being located on Milwaukee Ave. Combined with an al fresco patio and 111 parking spaces, you won't find a better opportunity in Wheeling. This property can be a redevelopment site and can be joined with another 2.4-acre site next door that is available for sale too.
Full Property Details
Full Property Details for 550 S Milwaukee Ave
General
- Price: $1,849,000
- Taxes: $157,000 (2021)
- Status: Active
- Type: Commercial
- MLS ID: 11910097
- Updated: 3/29/2024
- Added to Site: 196 day(s) ago
Interior
- Interior Features: Common Lunchroom(s), Common Meeting Room(s), Accessible Entrance, Accessible Washroom/s, Private Restroom(s), Public Restroom(s)
Additional Information
- Security/Safety: Alarm on Site, Sprinklers (Wet), Stand Pipe, Sprinklers
Parking
- Parking Features: Over 100 Spaces
Location
- Area: Wheeling
- County: Cook
- Township: Wheeling
- Driving Directions: North or South on Milwaukee to Location.
- Location Details: Northwest Suburban, Chicago Northwest, Central Business District, Corner
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Building Heat, Forced Air, Gas
Utilities
- Onsite: Electricity to Site, Gas to Site, Sanitary Sewer, Municipal Water
Structural Information
- Construction: Concrete
- Exterior Const.: Stucco
- Foundation: Concrete Perimeter
- Loading: Exterior, Interior, None
- Stories/Levels: 1
- Square Feet: 7,280
- Current Bldg. Use: Commercial
- Year Built: 1997
Lot Features
- Lot Size (Acres): 2.4
- Lot Size (Sq. Ft.): 106,055
- Lot Dimensions: 253 x 463 x 288 x 349
- Frontage: State Road
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Security Deposit: Alarm On Site, Sprinklers-Wet, Stand Pipe, Sprinklers
- Assessment Year: 1997
- Tax Amount: $157,000
- Tax Year: 2021
Disclosures and Reports
- Documents Avail.: Aerial Map, Demographics, Tax Bill, Traffic Counts, Backup Package
- Property ID: 3121160280000
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Schools
Schools serving 550 S Milwaukee Ave
School Districts:Wheeling Community Consolidated School District 21, Township High School District 214
Rating | Name | Grades | Distance |
---|---|---|---|
133 Wille Ave, Wheeling, IL 60090 | PK-5 | 0.5 mi | |
221 S Wolf Rd, Wheeling, IL 60090 | 6-8 | 0.7 mi | |
900 S Elmhurst Rd, Wheeling, IL 60090 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 550 S Milwaukee Ave
Date
Details
Price
Change
Source
10/16/2023
Listed
$1,849,000
—
MLS
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 550 S Milwaukee Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$95,518
-39%
$298,850
-30%
2021
$157,464
3%
$425,000
—
2020
$153,365
10%
$425,000
—
2019
$139,260
47%
$425,000
64%
2018
$94,711
2%
$259,526
—
2017
$92,783
7%
$259,526
—
2016
$86,587
—
$259,526
7%
2015
$86,310
-14%
$242,224
-16%
2014
$100,821
8%
$290,061
—
2013
$93,085
-8%
$290,061
-14%
2012
$101,057
—
$338,404
—
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 550 S Milwaukee Ave
550 S Milwaukee Avenue, Wheeling, IL 60090 (MLS# 11910097) is a Commercial property. 550 S Milwaukee Avenue is currently listed for $1,849,000 and was received on October 16, 2023. Want to learn more about 550 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.