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$525,000 Just Listed
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Property Description
Presenting an exceptional investment and redevelopment opportunity in the heart of Morton Grove! Ideally positioned along the Fernald Avenue corridor, this two-story mixed-use property offers a versatile footprint with three ground-floor commercial spaces and residential accommodations above, creating an attractive opportunity for investors, developers, and owner-users alike. With portions of the renovation work already completed, the property provides a unique canvas for customization and the opportunity to bring a new vision to life. Surrounded by ongoing development and neighborhood amenities, the property benefits from a highly accessible location less than one mile from the Morton Grove Metra Station and just one mile from the four-way interchange of I-94, offering convenient connectivity throughout Chicagoland. Enjoy close proximity to Austin Park, shopping, dining, public transportation, and major expressways. With its adaptable layout, established mixed-use setting, and strategic location, this property presents an exciting opportunity to reposition an asset in a well-connected suburban market. Property is being sold as-is, where-is, with buyers responsible for verifying all permitted uses, zoning requirements, and the status of existing improvements.
Full Property Details
Full Property Details for 8503-8509 Fernald Ave
General
- Price: $525,000
- Taxes: $31,115 (2025)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12780506
- Updated: Today (10/12/2026)
- Added to Site: Today
Location
- Area: Morton Grove
- County: Cook
- Township: Niles
- Driving Directions: Dempster to Fernald Ave, South to Property.
- Location Details: Chicago North, Corner
Heating & Cooling
- Cooling Type: None
- Heating Type: Central Heat/Individual Controls
Structural Information
- Construction: Vinyl Siding
- Exterior Const.: Vinyl Siding
- Stories/Levels: 2
- Square Feet: 5,288
- # of Stores: 3
- Year Built: 1910
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 6,440
- Lot Dimensions: 95.3 x 118 x 57.5 x 87.8
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Assessment Year: 1910
- Tax Amount: $31,115.32
- Tax Year: 2025
Disclosures and Reports
- Property ID: 10201140490000
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Price & Sales History for 8503-8509 Fernald Ave
Date
Details
Price
Change
Source
10/12/2026
Listed
$525,000
-13.93%
MLS
9/27/2004
Sold
$610,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 8503-8509 Fernald Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$1,112
—
$4,538
18%
2023
$1,112
5%
$3,850
—
2022
$1,060
34%
$3,850
56%
2021
$794
3%
$2,475
—
2020
$773
12%
$2,475
—
2019
$693
3%
$2,475
16%
2018
$672
-1%
$2,131
—
2017
$677
6%
$2,131
—
2016
$639
7%
$2,131
15%
2015
$598
—
$1,856
—
2014
$597
2%
$1,856
—
2013
$584
-7%
$1,856
-16%
2012
$627
—
$2,200
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 8503-8509 Fernald Ave
8503-8509 Fernald Avenue, Morton Grove, IL 60053 (MLS# 12780506) is a Commercial property. 8503-8509 Fernald Avenue is currently listed for $525,000 and was received on October 12, 2026. Want to learn more about 8503-8509 Fernald Avenue? Do you have questions about finding other Commercial real estate for sale in Morton Grove? You can browse all Morton Grove real estate or contact a Coldwell Banker agent to request more information.

