8324 Grand Avenue,River Grove, IL 60171
River Grove, IL 60171
Description
Exceptional Mixed-Use Investment Opportunity - Fully Renovated 13,000+ SF Asset offering 8 Apartments, 3 Retail, Garage + Side Lot Parking. This extensively renovated mixed-use property offers a rare turnkey investment opportunity with significant capital improvements and strong long-term income potential. The building features 8 residential units, each offering 2 bedrooms and 2 full bathrooms with stainless steel appliance packages, quartz countertops, white shaker cabinetry, LVP flooring, porcelain-tiled bathrooms with tubs or walk-in showers, 2 Panel Logan Doors, Grohe Fixtures, Nickel Hardware, and individual HVAC systems. Newly installed TJI clear-span beams create impressive vaulted ceilings throughout the residential units. 3 Different Laundry Rooms on Main Floors for Groupings of Apartments + 8 indoor garage spaces dedicated to the residential component, along with a contiguous lot to the east featuring asphalt parking lot with approximately 15 additional spaces serving commercial or residential uses. New water service, individual electric metering, new windows, sprinklered system, new triple trap and floor drains for the indoor garage. Retail Stores total just over 4,000sf with 1,000sf extra if needed + over 6,700sf of Residential creating a favorable residential-to-retail ratio providing the benefit of multifamily-oriented real estate taxation. Strategically located on Grand Avenue, just two blocks from the River Grove Metra Station, the property enjoys outstanding visibility with over 22,000 vehicles per day on Grand and 26,000 on Thatcher/Cumberland. Well positioned within the heart of the area's revitalized business district and surrounded by national retailers like Starbucks, Rosati's, schools, and commuter traffic, the location supports a strong rental market and continued appreciation. An exceptional opportunity for investors or owner-users (Restaurant w/ Gaming License Income) or anyone seeking a high-quality asset with multiple income streams and value-add possibilities.
Details
| MLS # | 12672284 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1943 |
| Days On Site | 107 |
| Listing Provided By | @properties Christie's International Real Estate | Connie Dornan |
Features
| SQ Feet | 16,000 |
|---|---|
| Story(s) | 2 |
| Units | 11 |
| Zoning | MULTI |
Interior
| Cooling | Central Air, Central Individual |
|---|
Exterior
| Roof | Composition |
|---|---|
| Foundation Details | Concrete Perimeter |
| Construction Materials | Brick, Concrete, Steel Siding, Wood |
Utilities
| Utilities | Sewer Connected, Water Available |
|---|---|
| Sewer | Storm Sewer |
| Electric | Circuit Breakers, Separate Meters, Service - 0 to 100 Amps, Over 600 Amps |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 12778.59 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | River Grove |
| Zip Code | 60171 |
| Area | River Grove |
| Listing VS Median (in 60171) | |
Price: $3,200,000 low | high Med: $439,900 sqft: 16,000 low | high Med: 1,917 $ / sqft: $200 low | high Med: $229 On site: 107 low | high Med: 7 | |
Market Activity 60171
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | River Grove |
| Zip Code | 60171 |
| Area | River Grove |
| Listing VS Median (in 60171) | |
Price: $3,200,000 low | high Med: $439,900 sqft: 16,000 low | high Med: 1,917 $ / sqft: $200 low | high Med: $229 On site: 107 low | high Med: 7 | |