1048 Milwaukee AveWheeling, IL 60090

Property Details for 1048 Milwaukee Ave

Year built

1982

Lot size

0.65 AC

Property type

Industrial properties

APN

03-13-200-026

APU

313200026

Description

This exceptional investment opportunity presents a 3,686 square foot Shell gas station located at 1048 S Milwaukee Ave, Wheeling, IL 60090, Cook County. Built in 2021, this Class A property sits on a 1.848-acre lot and boasts a 100% occupancy rate with a strong franchisee tenant under a 20.1-year Absolute NNN lease (16.7 years remaining). The lease commenced July 15, 2021, and expires July 31, 2041, featuring four 5-year renewal options with 1.25% annual rent bumps. The property generates a substantial NOI of $175,486, resulting in a 7.00% cap rate and a price per square foot of $680.14. The asking price is $2,507,000. This highly visible location along Hwy 45 (36,122 vehicles per day) benefits from proximity to Chicago Executive Airport, ensuring consistent high traffic volume. The property's strong location within a stable and dense demographic area, coupled with the long-term lease and annual rent increases, makes this a compelling investment opportunity. The ground lease ownership structure provides additional security and potential for future appreciation. The property's APN is 03-13-200-025-0000.

• Alternative Use

  Use

  Valuation

  Residential

  $5,842,051

  Hospitality

  $5,351,288

  Educational

  $4,452,208

  Medical

  $4,605,326

  Retail

  $6,925,657

Location Insight

City

Wheeling

County

Cook

State

Illinois

Latitude

42.1187

Longitude

-87.8972

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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