Palwaukee Plaza

Palwaukee Plaza is a multi-tenant retail center located at 604–698 N Milwaukee Avenue at the southwest corner of Milwaukee Avenue and Palatine Road in Prospect Heights, Illinois. The Property is positioned in a densely populated northern suburban trade area with more than 83,000 residents and an average household income exceeding $150,000 within a three (3) mile radius. Milwaukee Avenue (U.S. Route 45) and Palatine Road provide strong regional connectivity, while Interstate 294 (I-294) is located approximately one (1) mile to the east, offering direct access to O’Hare International Airport, downtown Chicago, and the broader metropolitan area. The Prospect Heights Metra Station is located roughly two (2) miles northwest, enhancing commuter and daytime population flow to the corridor. The immediate area is supported by established residential neighborhoods, nearby office and industrial employment centers, and the Chicago Executive Airport (PWK), which sits just a few blocks north along Milwaukee Avenue. The Property benefits from a high-visibility location along Milwaukee Avenue with exposure to more than 58,800 vehicles per day, creating strong daily traffic and consistent customer flow. This stretch of Milwaukee Avenue serves as a well-established commercial corridor anchored by major national retailers and daily-needs operators that draw shoppers from Prospect Heights, Wheeling, Mount Prospect, and Arlington Heights. Retailers in the surrounding area include Costco, Menards, Mariano’s, Jewel-Osco, Planet Fitness, McDonald’s, Dunkin’, Starbucks, Panera Bread, Walgreens, Chipotle, O’Reilly Auto Parts, Fresh Farms International Market, and Citibank, among many others. The combination of affluent demographics, significant traffic counts, strong regional access, and dense surrounding rooftops creates a highly attractive environment for retail tenants seeking visibility, accessibility, and steady consumer demand.Palwaukee Plaza is a multi-tenant retail center located along North Milwaukee Avenue in northwest suburban Prospect Heights, Illinois (Chicago MSA). The Property was renovated in 1989 and totals 113,801 square feet across three (3) buildings, including approximately 10,550 square feet of second-floor professional office space. The center is situated on a 10.47 acre parcel and zoned B-2: Community Business District. Currently, the center is 82% leased. Palwaukee Plaza features a diverse mix of long-standing tenants including Dollar Tree, Wintrust Bank, Palwaukee Liquor, Rocky's America Grill, Care For Kids Learning Center, Monica’s, Mango’s, Bravo Bakery, Mi Dulce Michoacana, APM Dental, Doggy Daydream, and State Farm, among many others. The center generates a strong in-place NOI of approximately $1,004,000, providing investors with stable day-one cash flow and meaningful upside through lease-up and future out lot development. The Property features multiple access points, monument signage, and a large on-site parking lot with 605 surface spaces. The center is strategically positioned along a high-traffic commercial corridor surrounded by dense residential neighborhoods and several national retailers including Walmart, LA Fitness, Home Depot, McDonald’s, Starbucks, O’Reilly Auto Parts, Binny’s Beverage Depot, T.J. Maxx, and Panera Bread, among others.