700 N Milwaukee - Wheeling, IL
11,906 SF Turnkey Restaurant & Brewery | 126 Parking Spaces | Outdoor Seating for 100
Marketing description
CBRE, as exclusive agent, is pleased to present an opportunity to lease or acquire fee simple interest in 700 North Milwaukee Avenue (“the Property”) in Wheeling, a village located 45 minutes northwest of Chicago, Illinois.
Built as a brewery and food hall, the Property has indoor seating for 168, while the outdoor deck can hold 100 patrons comfortably. Combined with the 126 surface parking spaces surrounding the building, there is ample room for patrons to spread out and enjoy themselves.
Located near the intersection of Milwaukee Avenue and Wolf Road, the Property is surrounded by condo residents and a variety of retailers offering food & beverage, wellness services, banking, childcare, and lodging.
North of the Property is access to Lake Cook Road, a major thoroughfare that connects it to green and recreation spaces like the Chevy Chase Country Club and the Lake County Forest Preserve.
Investment highlights
PRIME SUBURBAN LOCATION - The Property is near Wolf Road & Lake Cook Road, two major suburban thoroughfares.
LARGE LAND FOOTPRINT - The Property’s footprint is a total of 2.81 acres / 121,404 SF, well suited for expansion or redevelopment.
COUNTY TAX INCENTIVE – Under the Class 7A Incentive, the Property is taxed at 10% (instead of the standard 25%) for the first 10 years.
FOOD HALL SEATING 160+ - Perfect for an owner/user looking to test pop-up restaurant concepts in a new market.
BUILT FOR FUN - The Property has an outdoor deck with seating for 100, making it easy to maximize the space for a good time.
TURNKEY BREWERY - Ideal for owner/users who brew their own beers and want to expand in the suburbs.
NEAR LODGING & RESIDENCES - The Property sits near The Westin Chicago North Shore and Prairie Park Condos, guaranteeing foot traffic.
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