1072 N Milwaukee Avenue Chicago, IL $ 1,600,000
1072 N Milwaukee Avenue
$ 1,600,000
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1072 N Milwaukee Avenue

Chicago, IL, 60642
$ 1,600,000
Bedrooms-- Baths-- Sq 6,400

Monthly Estimate*

$ 11,051

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Commercial Property for sale in Chicago, IL

for $1,600,000. This 6,400 square foot building was built on a lot size of 0.119995.

**Exceptional Restaurant & Bar Opportunity with Expansive Beer Garden and Live Entertainment Licensing!** Outstanding opportunity to establish or expand a restaurant, bar, or entertainment concept in this versatile, approximately 6,400-square-foot commercial property, offering a **total occupancy of 238 patrons** across multiple indoor and outdoor spaces. A standout feature is the expansive **1,600-square-foot outdoor beer garden with capacity for 103 guests**, ideal for outdoor dining, seasonal events, and social gatherings. The main-level bar offers approximately 1,600 square feet with occupancy for 85 guests, while an additional 1,600-square-foot upper level accommodates 50 guests, providing excellent flexibility for private events, additional dining, or entertainment. The property features an approximately 500-square-foot commercial kitchen equipped with a substantial **20-foot exhaust hood**, well suited for a high-volume food and beverage operation. A 1,600-square-foot basement provides cooler and storage space, along with two restrooms. **A significant added benefit is the property's Public Place of Amusement (PPA) license, allowing for live music and entertainment**, subject to applicable license conditions. This creates exciting opportunities for live performances, DJs, special events, and an enhanced nightlife experience. With its generous occupancy, expansive outdoor beer garden, commercial kitchen infrastructure, and live entertainment licensing, this property offers tremendous potential for restaurant operators, hospitality groups, and entertainment concepts seeking a dynamic, multifaceted venue. **A unique opportunity to create a premier dining, nightlife, and entertainment destination!**

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Commercial Active

Price

$ 1,600,000

Property Type

Commercial

Taxes

$ 24,134

Style

Food & Beverage

Lot Size

0.119995

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12783152

Features
General
Cooling Central Air
Possession Closing
Stories Count 2
Tax Year 2025
Business Type Food & Beverage
Additional Parcels Description 17053080810000
County Cook
Operating Expense 0
Property Type Business Opportunity Bus / Bus w/Real Est
Status New
Directions From Downtown take Milwaukee ave to 1072
City Chicago
MLS Area CHI - West Town
Lot Size Square Feet 5227
Tax Annual Amount 24134
Additional Parcels Y/N Y
Standard Status Active
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Exterior
Building Area Total 6400
Lot Dimensions 50x99
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* Excluded Features
List By
Meridian Real Estate Chicago Llc

Broker

james@meridianchicago.com

Email

Affordability Calculator

$13,062
Per Month
85%
15%
0%
Monthly Principal & Interest
$11,051
Monthly Property Taxes
$2,011
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
10/13/2026$1,600,000 Listed Price

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1072 N Milwaukee Avenue, Chicago, IL, 60642 is a Commercial Property for sale at $1,600,000 with 6,400 sqft and a lot size of 0.119995. The property's zip code is 60642 which is in Chicago, IL