21
See all 21 photos
$2,849,000
Est. payment /mo
12,864 SqFt
New
5201 N Milwaukee Avenue Chicago, IL 60630
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UPDATED:
02/23/2025 06:06 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 12,864 sqft
Price per Sqft $221
MLS Listing ID 12291785
Annual Tax Amount $49,257
Tax Year 2023
Lot Dimensions 66 X 104
Property Sub-Type Mixed Use
Property Description
This building has been completely remodeled 4 years ago. New plumbing, electrical, 2 HVAC rooftop units 10 tons each plus 2 units that are 5 tons each, new subfloors and floors, framing, facade, windows and much more. There are 2 existing businesses occupying the space and 1 additional business that can be opened soon. Deli, grill, and bakery with seating area was opened 4 years ago and this business comes with the building. The entire basement and part of first floor is USDA approved for meat processing and that business would not transfer with the building. However, once that business moves, the new owner can easily start their own USDA production. The deli area also had a packaged goods liquor license that was not renewed, but it can be easily reestablished. There is also a 99 seat restaurant that is not open but it could easily be opened. The current zoning C1-1 allows for many uses. All the equipment, ovens, commercial kitchen, deli cases, reach in coolers, walk in coolers and freezer are in great shape. The second floor is currently a 3,000 square foot office. The owner has a plan to convert the office space into 3 residential rental apartments, this conversion is not included in the price. Real estate taxes are currently under protest but converting office space into residential units would bring the real estate taxes down even further. This property and the business has so much potential and upside. Current owners wish to focus on USDA wholesale production of their meat products and simply do not have enough time to devote to the retail store, deli, grill, bakery, and the restaurant. This property is conveniently located on the corner of Milwaukee and Foster, on a busy street (corner), and near 2 highways and abundance of public transportation.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
Roof Type Rubber
Building
Structure Type Brick,Concrete
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Listed by Dan Cvejic • Chicago Realty Professionals