1245 Milwaukee Ave

Versa Real Estate Services is pleased to present the opportunity to acquire the fee simple interest in the property located at 1245-1247 Milwaukee Avenue. This 37,500 SF office building, constructed in 1984, is situated just south of West Lake Avenue, offering excellent visibility with 28,000 vehicles passing daily. Currently, the three-story building is 25% leased, presenting a value-add investment opportunity. Investors can enhance the property’s value through physical improvements to increase occupancy to market levels. Additionally, multiple signage options on Milwaukee Ave are available and under-utilized, providing further potential for visibility. 

The property features 4.5 acres of land and is ideally positioned for future development. The site is in close proximity to key amenities, including ABT Electronics, Glencoe Estate Condominiums, and various retail and residential areas along Milwaukee Ave. The building is classified as Limited Commercial (I-1), allowing for a diverse array of commercial and residential uses. This includes options such as multi-family units, exhibition halls, medical clinics, urgent care facilities, and research laboratories