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.