Listing provided courtesy of Baird & WarnerMREDas Distributed by MLSGrid- MLS# 12643761MLS Provider

545-47 N Milwaukee AvenueLibertyville, IL 60048

Commercial · 16,621 Sq. ft.
$6,995,000 Active

545-47 N Milwaukee Avenue Overview

Time on Site:
47 days
Visits:
1

This exceptional investment and owner-user opportunity is a premier mixed-use trophy asset situated in the heart of Libertyville's vibrant Downtown Core at 545-547 N Milwaukee Avenue. Downtown Libertyville properties rarely change hands especially ones as turn key and stable. This meticulously maintained two-story building perfectly blends historic architectural charm with high-end modern infrastructure. For the owner-occupant, this property offers a rare chance to elevate your brand and your team's quality of life by establishing a corporate headquarters on the second floor. The 6000 square foot modern open floor plan office suite provides a sophisticated workspace characterized by premium finishes and an abundance of natural light, fostering a true live-work-play environment where employees are steps away from award-winning dining, boutique shopping, the Metra station and residential neighborhoods. The building is unique in that it features multiple tenants across its diverse floor plan, which significantly enhances investment stability through diversified income streams. The current owner-occupant is prepared to vacate to accommodate your business or remain in place under a lease-back agreement, offering ultimate flexibility for your transition. From an investor standpoint, this is a recession-resistant asset that allows you to add a high-performing trophy property to your portfolio. The ground floor is anchored by two stable restaurant tenants signed to long-term leases, providing a reliable and diversified cash flow from day one. The building is fully ADA compliant and all parking requirements have been satisfied, which is a significant competitive advantage in a dense downtown corridor. Originally built in 1920 and significantly remodeled in 2008, the property features high-end interior build-outs including slate tiling and hickory flooring. Furthermore, the local economy is poised for even greater growth as Libertyville will be adding close to 300 residential units to its downtown district in the coming years. This increase in density will help bolster the already high visibility and heavy pedestrian traffic, ensuring the long-term desirability and value of this downtown core location. For showings or financial information

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545-47 N Milwaukee Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 16,621
  • Price/Sq.ft. $421

Details

General

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 7517
  • Fuel Expense: 2400
  • Gross Income: 384376
  • Gross Scheduled Income: 355822
  • Insurance Expense: 0
  • Net Operating Income: 345423
  • Operating Expense: 10397
  • Trash Expense: 0
  • Water Sewer Expense: 480

Building Information

  • Year Built: 1920

Business Information

  • Current Use: Commercial

Location/Region

  • County Or Parish: Lake
  • MLS Area Major: Green Oaks / Libertyville

Tax Information

  • Tax Annual Amount: $70,025.74
  • Tax Year: 2025

General Information

  • Parcel Number: 11163050080000
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale
  • Zoning: COMMR

Interior

Building Information

  • Office SqFt.: 7552
  • Other SqFt.: 1517
  • Retail SqFt.: 7552

Building Interior

  • Building Area Total: 16621

General Information

  • Cooling: Central Individual
  • Electric: Service - 201 to 600 Amps
  • Foundation Details: Block, Concrete Perimeter
  • Stories: 2

Exterior

Lot Information

  • Additional Parcels: Yes
  • Frontage Type: State Road
  • Lot Size Dimensions: 60x160x50x170
  • Lot Size Square Feet: 9807

Building Exterior/Construction

  • Construction Materials: Brick, Concrete, Glass
  • Roof: Membrane

General Information

  • Number Of Units Total: 3

545-47 N Milwaukee Avenue Neighborhood

Community

60048 (LIBERTYVILLE) Demographics

44
Median Age
1,041
Population Density (per sq. mile)
75%
College Educated
$151,816
Estimated Median Income
8,680
Estimated Total Home Owners
1,735
Estimated Total Renters
83% / 17%
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.

545-47 N Milwaukee Avenue Monthly Cost

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* 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.

545-47 N Milwaukee Avenue Market Data

Based on the last 30 days in this zip code

$927,385
Average List Price
$323
Average Price per Square Foot
32
Properties Sold
44
Average Days on Market
119
Properties for Sale
Calculations provided by Reliance Network

545-47 N Milwaukee Avenue History

Date Event Value Agent
5/18/2026Source: MRED Status Change
Active
5/13/2026Source: MRED Added to Database
May 13, 2026