Mixed-Use
8827 Grand Ave
8827 Grand Ave, River Grove, IL 60171
Listing Price: $850,000
Investment Overview
Marcus & Millichap is pleased to present 8827 Grand Avenue, a seven unit mixed-use
property located in River Grove, Illinois. The subject property consists of five
two-bedroom / one and one-half bathroom apartments and two retail spaces. The
retail spaces are occupied by local service-oriented tenants. The apartment units
have been renovated with various updates over the years. Four units have
individual boilers and one apartment has radiant heat. Tenants are responsible for
their own heat and electricity. Recent capital improvements include newer
apartment windows, water heater and rear porch. On-site amenities include five
parking spaces, laundry facility and storage lockers.
The subject property is situated along Grand Avenue, one of the villages main
thoroughfares, providing tenants with convenient access to Route 171, Route 64
and numerous PACE bus stops along Grand Avenue. 8827 Grand Avenue is within
walking distance of the River Grove Metra Station, River Grove Library, River Front
Park and various national retailers. Additionally, the property is within a mile from
Triton College, Indian Boundary Golf Course, River Grove Elementary School, and
Thatcher Woods shopping center. The village of River Grove is located
approximately 15 miles from the Chicago Loop and approximately six miles from
O'Hare International Airport, for domestic and international traveling purposes.
This opportunity allows for a new investor or owner-user the ability to acquire a
well-maintained, mixed-use asset located in a desirable River Grove location. New
ownership can increase cashflow by bringing rents to market and implementing
pay-to-park for the five parking spaces.
Investment Highlights
- High Visibility Mixed-Use Asset | Desirable River Grove Location
- Ideal Unit Mix of All 2-Bed/1.5-Bath Units and Two Retail Spaces
- Recent Capital Improvements and Unit Renovations
- Individual HVAC's | Tenant-Paid Utilities
- Close Proximity to Numerous Modes of Transportation
- On-Site Laundry, Storage and Parking
Exclusively Listed By
Listing Price: $850,000
Investment Highlights
- High Visibility Mixed-Use Asset | Desirable River Grove Location
- Ideal Unit Mix of All 2-Bed/1.5-Bath Units and Two Retail Spaces
- Recent Capital Improvements and Unit Renovations
- Individual HVAC's | Tenant-Paid Utilities
- Close Proximity to Numerous Modes of Transportation
- On-Site Laundry, Storage and Parking
Investment Overview
Marcus & Millichap is pleased to present 8827 Grand Avenue, a seven unit mixed-use property located in River Grove, Illinois. The subject property consists of five two-bedroom / one and one-half bathroom apartments and two retail spaces. The retail spaces are occupied by local service-oriented tenants. The apartment units have been renovated with various updates over the years. Four units have individual boilers and one apartment has radiant heat. Tenants are responsible for their own heat and electricity. Recent capital improvements include newer apartment windows, water heater and rear porch. On-site amenities include five parking spaces, laundry facility and storage lockers. The subject property is situated along Grand Avenue, one of the villages main thoroughfares, providing tenants with convenient access to Route 171, Route 64 and numerous PACE bus stops along Grand Avenue. 8827 Grand Avenue is within walking distance of the River Grove Metra Station, River Grove Library, River Front Park and various national retailers. Additionally, the property is within a mile from Triton College, Indian Boundary Golf Course, River Grove Elementary School, and Thatcher Woods shopping center. The village of River Grove is located approximately 15 miles from the Chicago Loop and approximately six miles from O'Hare International Airport, for domestic and international traveling purposes. This opportunity allows for a new investor or owner-user the ability to acquire a well-maintained, mixed-use asset located in a desirable River Grove location. New ownership can increase cashflow by bringing rents to market and implementing pay-to-park for the five parking spaces.