4777 Milwaukee AveChicago, IL 60630

For Sale
$4,000,000
CVS-Leased Portage Park Property

Overview

Added:
Dec 11, 2024
Days on market:
125
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.

Property Details for 4777 Milwaukee Ave

Property type
Retail properties
Square Feet
10,880 SF
Year Built
2003

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.9673999
Longitude
-87.7599194
4777 Milwaukee Ave, Chicago, Illinois

FAQs

What type of property is this?
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).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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4777 Milwaukee Ave
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