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8824 Cherry Avenue River Grove, IL 60171 • Multi Unit - Multiple • New

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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!

Property Highlights

Property Type: Multi Unit - Multiple

General Information

Bedrooms: 8
Bathrooms: 5
County: Cook
High School: East Leyden High School
Listed By:
@properties Christie's International Real Estate 773-432-0200
MRED MLS
$680,000
Est. $4,276/mo
8beds
5baths
1cars
New to the Market New
BEDS8 BATHS5 full MLS#12580377
STATUSNew PROPERTY TYPEMulti Unit - Multiple SCHOOLDistrict 212
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Shown By

Lisa Lynes
 (319) 330-5077

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8824 Cherry Avenue, River Grove, IL 60171.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $680,000$680,000$680,000
Down Payment $136,000$23,800$170,000
Monthly Mortgage Amount $3,132$3,896$4,066
Taxes $946$946$946
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$299$0
Monthly Estimated Total $4,276$5,339$5,210

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 03/04/2026. The listing information on this page last changed on 03/04/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 03/04/2026 10:02:45 AM EST) or MRED MLS (last updated Wed 03/04/2026 9:58:29 AM EST) or SCWMLS (last updated Wed 03/04/2026 9:55:06 AM EST) or Rockford Board of Realtors (NWIAR) (last updated Tue 03/03/2026 10:15:25 PM EST) or Cedar Rapids MLS (last updated Wed 03/04/2026 9:59:14 AM EST) or NEIRBR MLS (last updated Wed 03/04/2026 9:59:07 AM EST) or ICAAR MLS (last updated Wed 03/04/2026 9:58:47 AM EST) or ECIMLS (last updated Wed 03/04/2026 10:00:26 AM EST) or RMLSA (last updated Wed 03/04/2026 10:00:56 AM EST) or Muscatine MLS (last updated Wed 03/04/2026 10:00:25 AM EST) or No Coast MLS (last updated Wed 03/04/2026 9:54:18 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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