Overview
Transwestern, as the exclusive listing agent, is pleased to present the opportunity to acquire the fee simple interest in 2989 N. Milwaukee Ave., an approximately 80,471 SF institutional-quality school facility located along Chicago’s rapidly evolving Milwaukee Avenue corridor between the Logan Square and Avondale neighborhoods. The property will be delivered vacant and available for immediate occupancy.
Constructed in 2015, the property consists of approximately 80,471 SF across four stories on a 1.036-acre site and includes 51 on-site parking spaces. The building features a highly efficient layout with infrastructure tailored to educational programming, including a full commercial kitchen and cafeteria, a library, a gymnasium, and flexible classroom space. The property benefits from high-quality construction, including Type I-B non-combustible framing, modern building systems, and LEED Gold certification, with features such as a green roof, daylight harvesting, and energy-efficient mechanical systems.
The existing layout supports continued use as an educational or community facility and offers compelling adaptive reuse potential for residential, medical, community, office, or other alternative uses, subject to zoning and municipal approvals. Replicating a comparable facility today would be materially more costly and time-consuming, positioning the asset as a highly efficient solution for immediate occupancy.
The property presents a compelling opportunity for both owner-users and investors. Users benefit from immediate control of a high-quality facility in a supply-constrained submarket, eliminating lease rollover and development risk. Investors gain flexibility for repositioning and exposure to a corridor experiencing sustained residential growth and reinvestment. Improving demographics, rising household incomes, and expanding neighborhood amenities are expected to support growing demand for high-quality schools and community-serving uses and underpin long-term appreciation. 2989 N. Milwaukee Ave. offers a rare combination of scale, quality, and adaptability in one of Chicago’s most active and upward-trending neighborhoods.
Investment Highlights
Exceptional Owner-User Opportunity, with Immediate Occupancy
Ideal for an educational, nonprofit, or office user seeking a turnkey Chicago presence, offering immediate control, long-term cost stability, and insulation from future rent escalation. High-exposure location provides prominent branding and signage opportunities.
Institutional-Quality Building with Modern Systems
Purpose-built school facility with significant capital investment, including contemporary mechanical, electrical, and life safety systems, supporting continued use or seamless adaptive reuse.
Amenity-Rich and Accessible Location
Located along the Milwaukee Avenue “Hipster Highway” corridor with strong CTA bus and nearby Blue Line access. The property benefits from the area's vibrant restaurants and excellent connectivity to downtown Chicago and surrounding neighborhoods.
Long-Term Value Appreciation
The asset is situated directly in the path of continued gentrification and residential expansion extending north from Logan Square, where new multifamily and mixed-use developments are steadily reshaping the corridor. This momentum is driving increased foot traffic, rising household incomes, and expanding retail amenities, positioning the property to benefit from sustained neighborhood appreciation and long-term demand.
Photo Gallery
