Marcus & Millichap is pleased to present 307 South Milwaukee Avenue located in Wheeling, Illinois. The property is a highly occupied multi-tenant office building, located on the heavily traveled Milwaukee Avenue; just south of Dundee.
The property is perfect for an investor who is looking for a stable return and a property that has always enjoyed high occupancy. Due to the number and size of the suites, a buyer who is looking for the benefits of building ownership might appreciate the tax advantages, building ownership provides.
The subject property is a 1.21 acre parcel that backs up to the Des Plaines River. The property currently has 22 leasable suites in 15,594 square feet. At present 710 square feet are vacant. The one-story brick building has separately metered electrical service.
The property is approximately five minutes from Chicago Executive Airport, 20 minutes from Chicago O'Hare International Airport and approximately seven minutes from Interstate 294. Additionally, the building is conveniently located to major thoroughfares.
307 South Milwaukee Ave Wheeling, IL 60090
Down Payment $350,000 (35%)
Net Operating Income $81,975
Gross Square Feet 15,594
Price/Square Foot $64
CAP Rate 8.20%
Parcel Size 1.21 Acres
Year Built 1975