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$ 995,000
Est. payment | /mo
8,500 SqFt
$ 995,000
Est. payment | /mo
8,500 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $117
MLS Listing ID 12621592
Year Built 1955
Annual Tax Amount $41,037
Tax Year 2024
Lot Dimensions 132X261X127X299
Property Sub-Type Mixed Use
Property Description
An outstanding value add mixed use opportunity at one of Libertyville's busiest intersections, offering exceptional visibility and access in a premier Lake County community. With over 24,000 vehicles passing daily and a median household income of $140,000 within one mile, this property offers both strong demographics and long-term growth potential. 426 S Milwaukee Avenue, is a value add mixed use opportunity to add retail and office tenants. The property is currently leased with a hardware store, and second-floor offices-all rented on a month-to-month basis, providing holding income during planning and entitlement. The seller would ideally like to sell both 426 S. Milwaukee and 450 S. Milwaukee Avenues as a package offering a generous price reduction for both. Zoned for commercial use with an allowable building height of 45 feet (and the potential for additional height via special use permit), the site is ideally suited for a mixed-use redevelopment, apartment project, or professional office suites. The Village of Libertyville is development-friendly and eager to collaborate on transformative projects that enhance the corridor and community. The end cap location further adds value, offering excellent design flexibility for projects that could incorporate a drive-thru component or high-traffic retail. This is a rare chance to secure a prime value add property in vibrant Libertyville-just minutes from downtown, Metra access, major retail, and employment centers. Bring your vision and capitalize on this great location.
Location
State IL
County Lake
Area Green Oaks / Libertyville
Zoning COMMR
Interior
Cooling Central Air, Wall Sleeve
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Benjamin Lovinger of Baird & Warner