Contact us: 563.441.1776
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.
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Year Built: 1910
General Information
County: Cook
Listed By:
Compass
773-482-1917
MRED MLS
MLS ID: 12780506
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8503-8509 Fernald Avenue, Morton Grove, IL 60053.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $525,000 | $525,000 | $525,000 |
| Down Payment | $105,000 | $18,375 | $131,250 |
| Monthly Mortgage Amount | $2,759 | $3,386 | $3,403 |
| Taxes | $731 | $731 | $731 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $231 | $0 |
| Monthly Estimated Total | $3,643 | $4,501 | $4,287 |
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 10/29/2026. The listing information on this page last changed on 10/29/2026. 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 Thu 10/29/2026 12:02:13 AM EST) or MRED MLS (last updated Wed 10/28/2026 11:55:04 PM EST) or SCWMLS (last updated Wed 10/28/2026 11:55:21 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Wed 10/28/2026 10:15:54 PM EST) or Cedar Rapids MLS (last updated Wed 10/28/2026 10:46:58 PM EST) or NEIRBR MLS (last updated Wed 10/28/2026 11:58:43 PM EST) or ICAAR MLS (last updated Wed 10/28/2026 11:37:37 PM EST) or ECIMLS (last updated Wed 10/28/2026 11:44:36 PM EST) or RMLSA (last updated Thu 10/29/2026 12:00:59 AM EST) or Muscatine MLS (last updated Thu 10/29/2026 12:00:12 AM EST) or No Coast MLS (last updated Wed 10/28/2026 11:54:23 PM 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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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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