An outstanding value add mixed use opportunity at one of Libertyville's busiest intersections, offering exceptional visibility and access in a premier Lake County community. With over 24,000 vehicles passing daily and a median household income of $140,000 within one mile, this property offers both strong demographics and long-term growth potential. 426 S Milwaukee Avenue, is a value add mixed use opportunity to add retail and office tenants. The property is currently leased with a hardware store, and second-floor offices-all rented on a month-to-month basis, providing holding income during planning and entitlement. The seller would ideally like to sell both 426 S. Milwaukee and 450 S. Milwaukee Avenues as a package offering a generous price reduction for both. Zoned for commercial use with an allowable building height of 45 feet (and the potential for additional height via special use permit), the site is ideally suited for a mixed-use redevelopment, apartment project, or professional office suites. The Village of Libertyville is development-friendly and eager to collaborate on transformative projects that enhance the corridor and community. The end cap location further adds value, offering excellent design flexibility for projects that could incorporate a drive-thru component or high-traffic retail. This is a rare chance to secure a prime value add property in vibrant Libertyville-just minutes from downtown, Metra access, major retail, and employment centers. Bring your vision and capitalize on this great location.
Details
MLS #
12621592
Listing Type
For Sale
Style
Mixed Use
Sub-Type
Resale
Status
Active
Year
1955
Days On Site
149
Listing Provided By
Baird & Warner | Benjamin Lovinger
Features
SQ Feet
8,500
Story(s)
2
Units
7
Zoning
COMMR
Interior
Cooling
Central Air, Wall Sleeve
Utilities
Electric
Circuit Breakers, Service - 101 to 200 Amps
Taxes
Tax Year
2024
Tax Annual Amount
41037.6
Area Information
State
IL
County
Lake
City
Libertyville
Zip Code
60048
Area
Green Oaks | Libertyville
Listing VS Median (in 60048)
Price: $995,000
low | high
Med: $607,000
88.994974874372% of Average
sqft: 8,500
low | high
Med: 2,772
100% of Average
$ / sqft: $117
low | high
Med: $232
47.831023995385% of Average
On site: 149
low | high
Med: 56
100% of Average
Sourced by Back At You
Market Activity 60048
Date
Sales
Avg $ Per SqFt
Min Sale Price
Max Sale Price
Med Sale Price
Date: Aug 2026
Sales: 2
Avg $ Per SqFt: $435.95
Min Sale Price: $195,000
Max Sale Price: $422,000
Med Sale Price: $308,500
Date: Jul 2026
Sales: 21
Avg $ Per SqFt: $273.37
Min Sale Price: $285,000
Max Sale Price: $1,116,000
Med Sale Price: $645,000
Date: Jun 2026
Sales: 34
Avg $ Per SqFt: $279.87
Min Sale Price: $277,500
Max Sale Price: $1,640,000
Med Sale Price: $714,250
Date: May 2026
Sales: 38
Avg $ Per SqFt: $277.72
Min Sale Price: $265,000
Max Sale Price: $1,800,000
Med Sale Price: $666,500
Date: Apr 2026
Sales: 45
Avg $ Per SqFt: $306.01
Min Sale Price: $295,000
Max Sale Price: $2,750,000
Med Sale Price: $725,000
Date: Mar 2026
Sales: 24
Avg $ Per SqFt: $278.96
Min Sale Price: $225,000
Max Sale Price: $1,620,000
Med Sale Price: $629,131
Date: Feb 2026
Sales: 19
Avg $ Per SqFt: $303.06
Min Sale Price: $335,000
Max Sale Price: $1,205,000
Med Sale Price: $625,000
Date: Jan 2026
Sales: 21
Avg $ Per SqFt: $274.26
Min Sale Price: $220,000
Max Sale Price: $1,900,000
Med Sale Price: $643,000
Date: Dec 2025
Sales: 11
Avg $ Per SqFt: $293.46
Min Sale Price: $379,900
Max Sale Price: $1,630,000
Med Sale Price: $720,000
Date: Nov 2025
Sales: 20
Avg $ Per SqFt: $257.4
Min Sale Price: $215,000
Max Sale Price: $949,000
Med Sale Price: $577,500
Date: Oct 2025
Sales: 26
Avg $ Per SqFt: $274.24
Min Sale Price: $257,000
Max Sale Price: $1,575,000
Med Sale Price: $622,500
Date: Sep 2025
Sales: 28
Avg $ Per SqFt: $263.03
Min Sale Price: $195,000
Max Sale Price: $3,590,000
Med Sale Price: $550,665
Sourced by Back At You
Aug 2026
Sales:
2
Avg $ Per SqFt:
$435.95
Min Sale Price:
$195,000
Max Sale Price:
$422,000
Med Sale Price:
$308,500
Jul 2026
Sales:
21
Avg $ Per SqFt:
$273.37
Min Sale Price:
$285,000
Max Sale Price:
$1,116,000
Med Sale Price:
$645,000
Jun 2026
Sales:
34
Avg $ Per SqFt:
$279.87
Min Sale Price:
$277,500
Max Sale Price:
$1,640,000
Med Sale Price:
$714,250
May 2026
Sales:
38
Avg $ Per SqFt:
$277.72
Min Sale Price:
$265,000
Max Sale Price:
$1,800,000
Med Sale Price:
$666,500
Apr 2026
Sales:
45
Avg $ Per SqFt:
$306.01
Min Sale Price:
$295,000
Max Sale Price:
$2,750,000
Med Sale Price:
$725,000
Mar 2026
Sales:
24
Avg $ Per SqFt:
$278.96
Min Sale Price:
$225,000
Max Sale Price:
$1,620,000
Med Sale Price:
$629,131
Feb 2026
Sales:
19
Avg $ Per SqFt:
$303.06
Min Sale Price:
$335,000
Max Sale Price:
$1,205,000
Med Sale Price:
$625,000
Jan 2026
Sales:
21
Avg $ Per SqFt:
$274.26
Min Sale Price:
$220,000
Max Sale Price:
$1,900,000
Med Sale Price:
$643,000
Dec 2025
Sales:
11
Avg $ Per SqFt:
$293.46
Min Sale Price:
$379,900
Max Sale Price:
$1,630,000
Med Sale Price:
$720,000
Nov 2025
Sales:
20
Avg $ Per SqFt:
$257.4
Min Sale Price:
$215,000
Max Sale Price:
$949,000
Med Sale Price:
$577,500
Oct 2025
Sales:
26
Avg $ Per SqFt:
$274.24
Min Sale Price:
$257,000
Max Sale Price:
$1,575,000
Med Sale Price:
$622,500
Sep 2025
Sales:
28
Avg $ Per SqFt:
$263.03
Min Sale Price:
$195,000
Max Sale Price:
$3,590,000
Med Sale Price:
$550,665
MLS Number: 12621592
Benjamin Lovinger – (847) 778-9519 – ben.lovinger@bairdwarner.com
Baird & Warner – (847) 367-1855 – libertyville@bairdwarner.com
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The information is being provided by MRED. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 MRED. All Rights Reserved.
MLS Number: 12621592
Benjamin Lovinger – (847) 778-9519 – ben.lovinger@bairdwarner.com
Baird & Warner – (847) 367-1855 – libertyville@bairdwarner.com
