426 S Milwaukee Avenue,Libertyville, IL 60048
Libertyville, IL 60048
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.
Details
| MLS # | 12621592 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 160 |
| Listing Provided By | Baird & Warner | Benjamin Lovinger |
Features
| SQ Feet | 8,500 |
|---|---|
| Story(s) | 2 |
| Units | 7 |
| Zoning | COMMR |
Interior
| Cooling | Central Air, Wall Sleeve |
|---|
Utilities
| Electric | Circuit Breakers, Service - 101 to 200 Amps |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 41037.6 |
Area Information
| State | IL |
|---|---|
| County | Lake |
| City | Libertyville |
| Zip Code | 60048 |
| Area | Green Oaks | Libertyville |
| Listing VS Median (in 60048) | |
Price: $995,000 low | high Med: $615,000 sqft: 8,500 low | high Med: 2,143 $ / sqft: $117 low | high Med: $287 On site: 160 low | high Med: 14 | |
Market Activity 60048
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Learn More About This Property
| State | IL |
|---|---|
| County | Lake |
| City | Libertyville |
| Zip Code | 60048 |
| Area | Green Oaks | Libertyville |
| Listing VS Median (in 60048) | |
Price: $995,000 low | high Med: $615,000 sqft: 8,500 low | high Med: 2,143 $ / sqft: $117 low | high Med: $287 On site: 160 low | high Med: 14 | |
