412 N Milwaukee Ave 10,578 SF 100% Leased Retail Building Libertyville, IL 60048 For Sale

Fee Simple Trophy Property in Downtown Libertyville
412 N Milwaukee Ave, Libertyville, IL occupied by Timothy O'Toole's Pub
Seize the rare opportunity to own a cornerstone of Libertyville’s vibrant downtown district.
This 10,578 SF, two-level landmark is home to O’Toole’s Libertyville, a high-performing,
established anchor tenant that makes this property a true "set-it-and-forget-it" asset.
The current Landlord is relocating out of state, necessitating a timely sale of this
premium real estate property.
Investment Overview
Ownership: Fee Simple (Land & Building Included)
Lease Structure: NNN (Landlord responsibilities limited to roof repair only)
Term Stability: 3 years remaining on the current term.
Future Upside: Three (3) additional 5-year options
Property Highlights
Unique Feature: Includes a highly coveted, enclosed patio dining area directly
facing Milwaukee Avenue—providing year-round outdoor-style ambiance and maximum street-front visibility.
The Space: A massive 10,578 SF footprint featuring a dynamic two-level layout.
The main floor hosts the bustling pub and dining area, while the upper level serves as a
premier event space for private parties and community gatherings.
Recent Upgrades: Total peace of mind with a new roof installed just 2 years ago,
featuring an extended transferable warranty.
Location: Situated directly on Milwaukee Avenue, the property benefits from
heavy foot traffic and the affluent demographics of one of Lake County’s premier "destination" downtowns.
Tenant Profile: O’Toole’s Pub Group
O’Toole’s is a powerhouse regional tenant with a proven track record of stability and
growth in the Chicagoland market.
Substantial Revenue: The O’Toole’s Pub Group is a high-volume operator with
estimated annual revenues of approximately $20 million, signaling a highly stable and creditworthy tenant.
Established Presence: A staple of the Illinois hospitality scene since opening it
flagship Chicago location in 1992.
Regional Footprint: The group operates three successful locations across the
region: Chicago, Gurnee, and this anchor Libertyville destination.
The owner’s out-of-state relocation creates a unique opening for a savvy investor
to secure a high-performing, fee simple trophy asset.
Contact:
Frank Miller
fmiller979@gmail.com