426 S Milwaukee Avenue Libertyville, IL $ 1,995,000
426 S Milwaukee Avenue
$ 1,995,000
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426 S Milwaukee Avenue

Libertyville, IL, 60048
$ 1,995,000
Bedrooms-- Baths-- Sq 8,500

Monthly Estimate*

$ 12,446

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Commercial Property for sale in Libertyville, IL

for $1,995,000. This 8,500 square foot building was built in 1955 on a lot size of 0.826446.

An outstanding 35,542 sq ft end cap parcel positioned at one of Libertyville's busiest intersections, offering exceptional visibility and access in a premier Lake County community. With over 24,000 vehicles passing daily and a median household income of $140,000 within one mile, this property offers both strong demographics and long-term growth potential. Zoned for commercial use with an allowable building height of 45 feet (and the potential for additional height via special use permit), the site is ideally suited for a mixed-use redevelopment, apartment project, or professional office suites. The Village of Libertyville is development-friendly and eager to collaborate on transformative projects that enhance the corridor and community. The property is currently improved with an auto repair shop, hardware store, and second-floor offices-all rented on a month-to-month basis, providing holding income during planning and entitlement. The end cap location further adds value, offering excellent design flexibility for projects that could incorporate a drive-thru component or high-traffic retail. This is a rare chance to secure a prime redevelopment site in vibrant Libertyville-just minutes from downtown, Metra access, major retail, and employment centers. Bring your vision and capitalize on this great location.

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Commercial Active

Price

$ 1,995,000

Property Type

Commercial

Taxes

$ 36,628

Style

Commercial,Automotive

Lot Size

0.826446

Year Built

1955

Town/City

Libertyville

County/Region

Lake

MLS | Web ID

12507202

Features
General
Cooling Central Air Wall Sleeve
Possession Closing Negotiable
Zoning COMMR
Year Built 1955
Electric Circuit Breakers Service - 101 to 200 Amps
Stories Count 2
Township Libertyville
Tax Year 2024
Current Use Commercial Automotive
Assoc Fee Paid Per Annually
County Lake
Net Operating Income 32000
Property Type Commercial Sale Retail/Stores
Status Active
Directions Northeast corner of Milwaukee Avenue and Rockland Road
City Libertyville
Number Of Units Total 7
MLS Area Green Oaks / Libertyville
Lot Size Square Feet 36000
Tax Annual Amount 36628
Additional Parcels Y/N Y
Leasable Area 8500
Virtual Tour https://listings.hapiphotography.com/videos/019a1e33-9293-71ad-94b3-4803c4cc4106?v=368
Standard Status Active
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Exterior
Building Area Total 8500
Lot Dimensions 132X261X127X299
Frontage Type Frontage Road Public Road
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* Excluded Features
List By
Baird & Warner

Broker

Ben.Lovinger@bairdwarner.com

Email

Affordability Calculator

$15,499
Per Month
80%
20%
0%
Monthly Principal & Interest
$12,446
Monthly Property Taxes
$3,052
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/6/2025$1,995,000 Listed Price

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426 S Milwaukee Avenue, Libertyville, IL, 60048 is a Commercial Property for sale at $1,995,000 with 8,500 sqft and a lot size of 0.826446. 426 S Milwaukee Avenue was built in 1955. The property's zip code is 60048 which is in Libertyville, IL