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Listing provided courtesy of Berkshire Hathaway HomeServices ChicagoMREDas Distributed by MLSGrid- MLS# 12556319MLS Provider

241 S Milwaukee AvenueWheeling, IL 60090

Commercial · 12,000 Sq. ft.
$2,099,000 Active

241 S Milwaukee Avenue Overview

Time on Site:
153 days
Visits:
10

Excellent restaurant with 2nd floor apartment for extra income, this is a turn key opportunity on the highly trafficked Restaurant Row on Milwaukee Ave in Wheeling IL. Expansive Full-service restaurant, Separate bar, with gaming and party room on ground level. Huge 3-bedroom apartment on 2nd level already rented out. Basement has another party room, dance floor, bar, 4 walk ins, storage, and bathrooms. Gaming Income is near $100,000 annually. All FF&E included in sale of real estate. Name is not included.

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241 S Milwaukee Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 12,000
  • Price/Sq.ft. $175

Details

General

Income/Expenses

  • Operating Expense: 0

Business Information

  • Business Type: Restaurant

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: Wheeling

Rent/Lease Information

  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Operating Stops, Taxes, Insurance, Repairs, Scavenger, Tax Stops

Tax Information

  • Tax Annual Amount: $24,149.00
  • Tax Year: 2022

General Information

  • Parcel Number: 03121010520000
  • Property Type: Business Opportunity
  • Zoning: COMMR

Interior

Building Interior

  • Building Area Total: 12000

General Information

  • Cooling: Central Air, Central Individual
  • Electric: Three Phase
  • Stories: 2

Unit Information

  • Unit SqFt.: 10761

Exterior

Lot Information

  • Additional Parcels: Yes
  • Frontage Type: Public Road
  • Lot Size Dimensions: 122.47X98.81X499.43X422.17X225.33X61.04
  • Lot Size Square Feet: 71218

Building Exterior/Construction

  • Construction Materials: Brick

241 S Milwaukee Avenue Neighborhood

Community

60090 (Wheeling) Demographics

38
Median Age
4,103
Population Density (per sq. mile)
47%
College Educated
$71,966
Estimated Median Income
9,269
Estimated Total Home Owners
5,879
Estimated Total Renters
61% / 39%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

241 S Milwaukee Avenue Monthly Cost

$
$ %
%
$
$
Corinne Guerra
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

241 S Milwaukee Avenue Market Data

Based on the last 30 days in this zip code

$351,640
Average List Price
$292
Average Price per Square Foot
43
Properties Sold
63
Average Days on Market
85
Properties for Sale
Calculations provided by Reliance Network

241 S Milwaukee Avenue History

Date Event Value Agent
6/21/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
6/21/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
6/21/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Price Reduction
$2,099,000 -2.3%
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Price Reduction
$2,099,000 -2.3%
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Price Reduction
$2,099,000 -2.3%
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
6/15/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
5/10/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
5/10/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
5/10/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Price Reduction
$2,149,000 -2.3%
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Price Reduction
$2,149,000 -2.3%
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Price Reduction
$2,149,000 -2.3%
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
5/5/2026Source: MRED Status Change
Price Change
Ioannis Ress
Listing Agent
2/2/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
2/2/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
2/2/2026Source: MRED Status Change
Active
Ioannis Ress
Listing Agent
1/28/2026Source: MRED Added to Database
January 28, 2026
Ioannis Ress
Listing Agent
1/28/2026Source: MRED Added to Database
January 28, 2026
Ioannis Ress
Listing Agent
1/28/2026Source: MRED Added to Database
January 28, 2026
Ioannis Ress
Listing Agent