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Hometown Real Estate
7700 W. Belmont Ave
Chicago , IL 60634
Phone:
888 317 9983
Fax:
773 664 0013
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545-47 Milwaukee Avenue
Libertyville, IL 60048
Lake, US
$6,995,000.00 listing calculator
Status: Active (For Sale)
Type: Commercial
Subtype: Mixed Use
Year Built: 1920
MLS ID: 12643761


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Overview
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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

Courtesy Of: Baird & Warner


Feature Highlights


  • Additional Parcels
  • Built Before 1978

General Features


List Date:
05/11/2026

Exterior Features and Amenities


Lot Size Dimensions:
60x160x50x170

Financial


Days On Market:
9
Tax Annual Amount:
$70,025.74
Tax Year:
2025


Directions


Route 21 and Route 137 south to downtown Libertyville to address.

Availability Calendar


- Available - Unavailable

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The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of MRED LLC. Real Estate listings held by brokerage firms other than Hometown Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data last updated: 2026-05-26
.

Copyright 2026 MRED LLC

The information presented here is deemed reliable, though not guaranteed.
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About
Contact Events Blog Nikki Mayer
Buyers
Buyer's Resources Dream Home Finder Buyer Agent Information
Sellers
Seller's Resource Market Analysis
Listings
Search Listings Buyer Agents Hometown Real Estate Group Listings Office Listings Featured Listings Recently Sold Untitled Untitled
Community
Resources
Mortgage Info
Mortgage Calculator Mortgage Rates Loan Quote
Our Agents
Meet Our Agents