700 N Milwaukee Ave - Restaurant FOR SALE


$3,595,000 USD
312-334-7242
700 N Milwaukee Ave, Wheeling, IL for Sale
$3,595,000 USD
Restaurant - FOR SALE
1/9
null | Request Cap Rate


HIGHLIGHTS

  • PRIME SUBURBAN LOCATION - The Property is near Wolf Road & Lake Cook Road, two major suburban thoroughfares.
  • FOOD HALL SEATING 160+ & OUTDOOR DECK SEATING 100 - Perfect for an owner/user looking to test pop-up restaurant concepts in a new market.
  • TURNKEY BREWERY - Ideal for owner/users who brew their own beers and want to expand in the suburbs.
  • LARGE LAND FOOTPRINT - The Property’s footprint is a total of 2.81 acres / 121,404 SF, well suited for expansion or redevelopment.
  • COUNTY TAX INCENTIVE - Under the Class 7A Incentive, the Property is taxed at 10% (instead of the standard 25%) for 5 years with an option to extend.
  • NEAR LODGING & RESIDENCES - The Property sits near The Westin Chicago North Shore and Prairie Park Condos, guaranteeing foot traffic.

OVERVIEW

CBRE, as exclusive agent, is pleased to present an opportunity to lease or acquire fee simple interest in 700 North Milwaukee Avenue (“the Property”) in Wheeling, a village located 45 minutes northwest of Chicago, Illinois. Built as a brewery and food hall, the Property has indoor seating for 168, while the outdoor deck can hold 100 patrons comfortably. Combined with the 126 surface parking spaces surrounding the building, there is ample room for patrons to spread out and enjoy themselves. Located near the intersection of Milwaukee Avenue and Wolf Road, the Property is surrounded by condo residents and a variety of retailers offering food & beverage, wellness services, banking, childcare, and lodging. North of the Property is access to Lake Cook Road, a major thoroughfare that connects it to green and recreation spaces like the Chevy Chase Country Club and the Lake County Forest Preserve.

FOR SALE DETAILS

PRICE

$3,595,000 USD

PRICE/SF

$302 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

126

LAND DETAILS

LAND ACRES

2.81 AC

LAND SF

122,404 SF

ZONING

C1-3

APN/PARCEL ID

03-02-200-082-0000

ASK ABOUT THIS PROPERTY

312-334-7242

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312-334-7242

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