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$690,000
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Property Description
Welcome to 8824 Cherry - A Turnkey Investment/money making Opportunity! Investors and potentially owner-occupant! This legal 3-unit building is a proven money maker w/ long-term tenants in place and low rents. Fully rented and well-maintained, w/ a lot of room to increase rental amounts to market rates. Garden unit was previous owners unit, condo-quality renovated, radiant heated floors, spacious 2 bed 1 bath & includes the newer oversized garage spot & has a private dedicated washer/dryer closet, right outside the door. Middle floor has 3 good sized bedrooms 1 1/2 baths, was completely remodeld w/ beautiful finishes, rent here could much higher...Top floor same floor plan as middle floor and in good condition. No history of flooding in this building. Large front side driveway big enough to fit 6 exterior cars. Middle/top floor Leases expire 4.30.2026. Garden lease through 3/31/26. Coin laundry in basement for extra income. River Grove Pre-sale inspeciton completed. Roof 7-8 years old. Projected market rents give this a cap rate is 7.1%!! Make your offer now!
Full Property Details
Full Property Details for 8824 Cherry Ave
General
- Sold For: $690,000
- Taxes: $15,017 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MRED
- MLS ID: 12580377
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 8
Additional Information
- Equipment: Water Heater-Gas
- Other Features: Flood Zone (Partial)
Parking
- Garage: Yes
- Garage Spaces: 1
- Total Spaces: 7
- Parking Features: Garage Door Opener, Yes, Garage Owned, Detached, Assigned, Off-Street, Side Apron, Driveway, Additional Parking, Direct Access, Storage, Owned, Garage
Location
- Area: River Grove
- County: Cook
- Driving Directions: River Road, North of Grand Ave and South of Belmont Ave
School Information
- School District: 85.5
- Midd School District: 85.5
- Elementary School: River Grove Elementary School
- Middle School: River Grove Elementary School
- High School: East Leyden High School
- Private School: East Leyden High School
Heating & Cooling
- Heating Type: Natural Gas
Utilities
- Water: Public
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement Desc.: Finished, Full
- Year Built: 1965
- Built Before 1978: Yes
- Remodeled/Updated: 2020
Unit Information
- Units in Building: 3
Manufactured Home
- Model: 3 UNIT PROPERTY
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 3706 SQFT
- Zoning: MULTI
Financial Considerations
- Parking Included: Yes
- Assessment Year: 1965
- Tax Amount: $15,017
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: List Broker Must Accompany
- Property ID: 12272210670000
Listed by @properties Christie's International Real Estate
Sold by Enterprise Realty Brokers Inc
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Schools
Schools serving 8824 Cherry Ave
School Districts:River Grove School District 85-5, Leyden Community High School District 212
| Name | Grades | Distance |
|---|---|---|
River Grove Elementary School 2650 North Thatcher Avenue, River Grove, IL 60171 | PK-8 | 0.6 mi |
East Leyden High School 3400 Rose Street, Franklin Park, IL 60131 | 9-12 | 1.3 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
8824 Cherry Avenue, River Grove, IL 60171 (MLS# 12580377) is a Multi-Family property that was sold at $690,000 on April 17, 2026. Want to learn more about 8824 Cherry Avenue? Do you have questions about finding other Multi-Family real estate for sale in River Grove? You can browse all River Grove real estate or contact a Coldwell Banker agent to request more information.

