SQUARE FEET16,000
MLS#12672284
STATUSNew
PROPERTY TYPECommercial - Retail
Property 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.
Property Features
Property Type: Commercial - Retail
Cooling: Central Air, Central Individual
Lot Size: 0.33 Acres
Roof Type: Composition
Stories: 2.0
Taxes: $12,778
Year Built: 1943
Feature Descriptions
Electric: Circuit Breakers, Separate Meters, Service - 0 to 100 Amps, Over 600 Amps
Exterior: Brick, Concrete, Steel Siding, Wood
Fire Protection: Alarm Monitored, Sprinklers
Flooring: Concrete, Vinyl, Other
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Forced Air, Gas
Location: Central Business District, Mixed Use Area, In City Limits, High Traffic Area
Lot Dimensions: 100X125X129X122
Miscellaneous Indoor: Storage Inside, Laundry Room
Parcel#: 12264020270000
Parking: 13-18 Spaces
Potential Use: Retail
Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Insurance, Scavenger, Sewer, Trash Collection
Units: 11
Utilities: Sewer Connected, Water Available
Listed By / Shown By
Listed By
Agency Name: @properties Christie's International Real Estate
Agency Phone: 847-832-0002
Shown By
Agent Name: Brad Benedict
Agent Phone: (815) 988-4286
Agency Title: Gambino Realtors
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8324 Grand Avenue | MLS# 12672284
This commercial property located at 8324 Grand Avenue , River Grove, IL 60171 is currently listed for sale with an asking price of $3,200,000. Search River Grove real estate on bbenedict.gogambino.com today.