This exceptional investment opportunity presents a 10,880 square foot freestanding retail building in Chicago's Portage Park neighborhood. The property, located at 4777 N. Milwaukee Avenue, is situated on a highly visible corner lot at the signalized intersection of Milwaukee and Lawrence Avenues, boasting approximately 23,000 vehicles per day. Anchored by a CVS Pharmacy under a ground lease extending to January 2026, the property offers a strong, investment-grade tenant with a proven track record. Built in 2003, the building features a convenient drive-thru, 38 surface-level parking spaces, and prominent pylon signage. The property generates a net operating income (NOI) of approximately $324,760. Its strategic location, just two blocks west of the Kennedy Expressway (I-90/I-94) and a quarter-mile from the Jefferson Park Metra Station, provides excellent accessibility. The surrounding area is thriving, with numerous national retailers including Jewel Osco, Target, Mariano's, Marshalls, Walgreens, Ross Dress for Less, PetSmart, Starbucks, Dollar Tree, and various restaurants. This property offers a compelling combination of strong tenant occupancy, high visibility, and a prime location within a densely populated and commercially active area, making it an ideal addition to any investment portfolio. The asking price is $4,000,000. The Cook County, Illinois property is conveniently located 10 miles north of Chicago's Central Business District and six miles southeast of O'Hare International Airport. The Copernicus Center, a venue for local events, is also nearby.
Highlights
Investment-grade CVS Pharmacy ground lease, expiring January 2026.
Strong NOI of approximately $324,760.
High-visibility location at the signalized intersection of Lawrence and Milwaukee Avenues, with ~23,000 vehicles per day (VPD).
Features a drive-thru.
38 surface parking spaces.
Excellent access to I-90/I-94 and the Jefferson Park Metra Station.
Retail property - CVS-Leased Portage Park Property
Where is the retail property located?
The property is located at 4777 Milwaukee Ave Chicago, IL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Investment-grade CVS Pharmacy ground lease, expiring January 2026.; Strong NOI of approximately $324,760.; High-visibility location at the signalized intersection of Lawrence and Milwaukee Avenues, with ~23,000 vehicles per day (VPD).
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Contacts
Matthew Tarshis
Andrew Rubin
Zack Pearlstein
Andrew Picchietti
Visit Broker Website
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Milwaukee Ave Chicago, IL 60630
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Milwaukee Ave Chicago, IL 60630
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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4777 Milwaukee Ave
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