545-47 N Milwaukee Avenue Libertyville, IL $ 6,995,000
545-47 N Milwaukee Avenue
$ 6,995,000
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545-47 N Milwaukee Avenue

Libertyville, IL, 60048
$ 6,995,000
Bedrooms-- Baths-- Sq 16,621

Monthly Estimate*

$ 43,069

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Commercial Property for sale in Libertyville, IL

for $6,995,000. This 16,621 square foot building was built in 1920 on a lot size of 0.225138.

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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Commercial Active

Price

$ 6,995,000

Property Type

Commercial

Taxes

$ 70,025

Style

Commercial

Lot Size

0.225138

Year Built

1920

Town/City

Libertyville

County/Region

Lake

MLS | Web ID

12643761

Features
General
Cooling Central Individual
Roof Membrane
Zoning COMMR
Construction Materials Brick Concrete Glass
Year Built 1920
Electric Service - 201 to 600 Amps
Stories Count 2
Property Subtype Mixed Use
Tax Year 2025
Current Use Commercial
Gross Income 384376
Additional Parcels Description 11163050070000
County Lake
Net Operating Income 345423
Operating Expense 10397
Insurance Expense 0
Property Type Commercial Sale Mixed Use
Status Active
Directions Route 21 and Route 137 south to downtown Libertyville to address.
City Libertyville
Number Of Units Total 3
MLS Area Green Oaks / Libertyville
Lot Size Square Feet 9807
Tax Annual Amount 70025.74
Electric Expense 7517
Fuel Expense 2400
Trash Expense 0
Water Sewer Expense 480
Additional Parcels Y/N Y
Virtual Tour https://my.matterport.com/show/?m=38mWKXHRbya&brand=0&mls=1&
Standard Status Active
Cap Rate 5
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Exterior
Foundation Details Block Concrete Perimeter
Building Area Total 16621
Lot Dimensions 60x160x50x170
Frontage Type State Road
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* Excluded Features
List By
Baird & Warner

Broker

Ben.Lovinger@bairdwarner.com

Email

Affordability Calculator

$48,905
Per Month
88%
12%
0%
Monthly Principal & Interest
$43,069
Monthly Property Taxes
$5,835
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
5/13/2026$6,995,000 Listed Price

Map


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545-47 N Milwaukee Avenue, Libertyville, IL, 60048 is a Commercial Property for sale at $6,995,000 with 16,621 sqft and a lot size of 0.225138. 545-47 N Milwaukee Avenue was built in 1920. The property's zip code is 60048 which is in Libertyville, IL