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2821-2823 N Milwaukee Ave 10,000 SF Retail Building Chicago, IL 60618 For Sale
Investment Highlights
- Exceptionally located mixed-use building at the corner of the six-way Milwaukee / Diversey / Kimball intersection
- Blank slate opportunity for investors to pursue various repositioning strategies to create significant added value
- Adjacent B3-5 and B3-3 zoning designations across the street signal strong upzoning potential
- Rare opportunity for an owner / user to plant a flag at this prominent and highly visible anchoring location at the nexus of Logan Square and Avondale
- In-place billboard lease at below market rate provides near term income with 2028 lease expiration offeringnfurther opportunity to add value
- Conveniently accessible via public transit and I-90/94
Executive Summary
Baum Realty Group, LLC has been exclusively retained to offer for sale 2821-23 N. Milwaukee Avenue, a two-story mixed-use building at the nexus of Chicago’s Logan Square and Avondale neighborhoods. Located at the highly visible hard corner of the six-way Milwaukee / Diversey / Kimball intersection, the Property sits on approximately 6,100 SF of land fronting the public plaza known as Solidarity Triangle, highlighting the
building’s visibility and pedestrian access.
The building contains nearly 10,000 SF of interior space, with roughly 6,000 SF of ground floor retail, formerly occupied by the acclaimed bar, Crown Liquors, with a packaged goods license, tavern license and sidewalk cafe license available to be transferred to a new owner. The ground level
also contains a ±2,000 SF annex space with exposed brick and 14+ foot ceilings, uniquely suited for various uses such as a brewery, coffee roastery
or venue space. The second floor of the building totals nearly 4,000 SF and is configured with bright and open office conditions. The building also contains a billboard leased to Clear Channel that expires in 2028, generating additional income for a new owner.
The Property’s B2-2 zoning provides optionality and flexibility in terms of future use possibilities, including upper floor residential. Its high-profile
location in the city’s 35th ward (Ald. Quezada) is easily accessible by public transit, with stops for three different bus lines on Milwaukee, Diversey and
Kimball all located within a block of the building, and two CTA Blue Line ‘L’ Stations (Logan Square and Belmont) less than ½ mile away. I-90/94 is
located roughly ½ mile due north of the property.
building’s visibility and pedestrian access.
The building contains nearly 10,000 SF of interior space, with roughly 6,000 SF of ground floor retail, formerly occupied by the acclaimed bar, Crown Liquors, with a packaged goods license, tavern license and sidewalk cafe license available to be transferred to a new owner. The ground level
also contains a ±2,000 SF annex space with exposed brick and 14+ foot ceilings, uniquely suited for various uses such as a brewery, coffee roastery
or venue space. The second floor of the building totals nearly 4,000 SF and is configured with bright and open office conditions. The building also contains a billboard leased to Clear Channel that expires in 2028, generating additional income for a new owner.
The Property’s B2-2 zoning provides optionality and flexibility in terms of future use possibilities, including upper floor residential. Its high-profile
location in the city’s 35th ward (Ald. Quezada) is easily accessible by public transit, with stops for three different bus lines on Milwaukee, Diversey and
Kimball all located within a block of the building, and two CTA Blue Line ‘L’ Stations (Logan Square and Belmont) less than ½ mile away. I-90/94 is
located roughly ½ mile due north of the property.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
10,000 SF
Building Class
C
Year Built
1954
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.64
Lot Size
0.14 AC
Zoning
B3-2 - Business District
Frontage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Second generation bar / tavern space available for lease Transferable liquor, tavern, and outdoor patio licenses available
Second generation bar / tavern space available for lease Transferable liquor, tavern, and outdoor patio licenses available
| Space | Size | Space Use | Position | Available |
| 1st Floor | 6,000 SF | Retail | In-Line | Now |
| 2nd Floor | 4,000 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 6,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2nd Floor
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 6,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Second generation bar / tavern space available for lease Transferable liquor, tavern, and outdoor patio licenses available
2nd Floor
| Size | 4,000 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Second generation bar / tavern space available for lease Transferable liquor, tavern, and outdoor patio licenses available
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-26-218-094-0000 | Improvements Assessment | $204,848 |
| Land Assessment | $52,903 | Total Assessment | $257,751 |
Property Taxes
Parcel Number
13-26-218-094-0000
Land Assessment
$52,903
Improvements Assessment
$204,848
Total Assessment
$257,751
1 of 21
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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2821-2823 N Milwaukee Ave
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