Former Le Francais Restaurant in Wheeling, IL

269 South Milwaukee Avenue Wheeling, IL 60090

269 South Milwaukee Avenue, Wheeling, IL, 60090
269 South Milwaukee Avenue, Wheeling, IL, 60090
FOR SALE Auction Property
Property Type:
Last Verified:
Feb 08, 2021

Minimum Bid: $650,000 Buyer’s Premium: 6% Cooperating Broker’s Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added) 2019 Taxes: $60,784.30 PIN #: 03-12-105-024-0000 Lot Size: Approx. .58 acres Building Size: Approx. 4,322 sf Zoning: B-3 New to the market! Approximately .58 AC (Approx. 25,398 SF) of buildable land with an approx. 4,322 SF vacant building (the former Le Francais restaurant) that has a very large kitchen and includes all furniture, fixtures and equipment. This property has a paved parking lot with 45 spaces. Located on desirable, high-traffic Milwaukee Avenue along “Restaurant Alley” just South of Dundee Road , it has easy access from both South and North directions and boasts 26,000+ Cars Per Day. There are numerous potential re-development opportunities for this property such as retail stores, free-standing restaurant, fast food, coffee shops etc. Pre-Auction Bids Highly Encouraged! •Online Auction Bidding Starts at 11 AM CST Wednesday, March 24, 2021 and ends Friday, March 26, 2021, 11 AM CST •Minimum Bid: $650,000 •Buyer's Premium: 6% (calculated off accepted bid price) •Cooperating Broker's Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added) •Pre-Auction Bids Highly Encouraged!

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.