5820 Milwaukee AveChicago, IL 60646

Property Details for 5820 Milwaukee Ave

Year built

1965

Lot size

0.34 AC

Property type

Commercial real estate

APN

13-05-316-021

APU

1305316021

Description

This exceptional 29,862 square foot development site, located at 5820 N Milwaukee Ave in Chicago's Jefferson Park neighborhood (zip code 60646), presents a unique investment opportunity. The property features a 15,184 square foot single-story commercial building, formerly a grocery store, complete with a loading dock and freight elevator. A 4,000 square foot partial basement and mezzanine add significant storage or expansion potential. The site boasts 150 feet of frontage on Milwaukee Avenue, providing excellent visibility and accessibility via two curb cuts. Ample parking is available for 48 vehicles. The property enjoys convenient access to major expressways, I-94 Edens and I-90 Kennedy, and benefits from a high daily traffic count of 13,622 vehicles. Nearby amenities include a new Chase Bank and various neighborhood shops and restaurants. The B3-1 zoning allows for a variety of uses. The asking price is $1,750,000, with a lease rate of $15.50 per square foot (modified gross). This property is ideal for redevelopment or continued use as a retail space. The strong demographics of the Jefferson Park neighborhood and the property's prime location make this a compelling investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $5,039,500

  6.5%

  $4,651,840

  7%

  $4,319,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,924,050

  Geo Method

  $1,924,050

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,307,480

  Retail / Commercial

  $4,743,650

  Mixed-Use / Specialty

  $4,703,740

  Hospitality / Lodging

  $3,421,040

  Office

  $4,651,840

  Institutional / Educational

  $4,881,780

  Residential Income

  $5,711,680

  Multifamily

  $6,977,760

  Automotive / Energy

  $4,184,380

  Parking / Income-Based Land

  $1,466,700

  Restaurant / Food Service

  $2,397,370

  Healthcare / Senior Housing

  $4,847,180

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9874

Longitude

-87.7789

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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