8314-8324 W Grand Ave - Apartments FOR SALE


River Grove, IL 60171
$3,200,000 USD
8314-8324 W Grand Ave, River Grove, IL for Sale
$3,200,000 USD
Apartments - FOR SALE
1/17
null | 7.09% Cap Rate

8314-8324 W Grand Ave
River Grove, IL 60171


HIGHLIGHTS

  • 2 Blocks from River Grove Metra Station
  • Individual HVAC & Metered Apartments
  • 8 Allocated Garage Parking
  • 3 Dedicated Laundry Rooms
  • ~15 Exterior Parking in Side-Lot
  • 22,000 Daily Traffic on Grand Avenue

OVERVIEW

Offered at $3,200,000, this newly gut-renovated mixed-use property presents an outstanding investment opportunity in River Grove, a sought-after inner-ring suburb west of Chicago. The asset combines eight modern residential units and three prime retail storefronts in one cohesive building designed for long-term performance. Recent renovations have replaced all major systems and interiors, creating a low-maintenance, income-producing property with significant operational efficiency. The residential component consists of seven 2-bedroom/2-bath units and one 3-bedroom/2-bath unit, all featuring premium finishes such as stainless steel appliances, shaker cabinetry, upgraded flooring, and fully updated baths. Each apartment is individually metered with central HVAC, ensuring tenant convenience and owner cost control. Additionally, the property provides three shared laundry rooms to support tenant needs. Retail suites on the first floor offer flexible configurations, extensive frontage on Grand Avenue, and abundant natural light—ideal for a mix of service, dining, or neighborhood retail operators. Twenty surface parking spaces and eight enclosed garage spots provide a rare parking advantage in this dense suburban market. Strategically located along the high-traffic W. Grand Avenue corridor, the property enjoys excellent visibility and walkability, with the River Grove Metra Station within walking distance. Easy connections to I-290 and O’Hare International Airport strengthen accessibility and commuter appeal, while nearby retail, dining, Loyola University Medical Center, and industrial employers contribute to a robust tenant base and long-term rental demand.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$221 USD /SF

# OF UNITS

8

PRICE/UNIT

$400,000

CAP RATE

7.09%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1943

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

Mixed Use

APN/PARCEL ID

12-26-402-027-0000

ASK ABOUT THIS PROPERTY

Kostas Giannikoulis@properties | Christie's International Real EstateMore Info

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Kostas Giannikoulis@properties | Christie's International Real EstateMore Info

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