8503-8509 Fernald Avenue Morton Grove, IL $ 525,000
8503-8509 Fernald Avenue
$ 525,000
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8503-8509 Fernald Avenue

Morton Grove, IL, 60053
$ 525,000
Bedrooms-- Baths-- Sq 5,288

Monthly Estimate*

$ 3,626

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Commercial Property for sale in Morton Grove, IL

for $525,000. This 5,288 square foot building was built in 1910 on a lot size of 0.147842.

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.

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Commercial Active

Price

$ 525,000

Property Type

Commercial

Taxes

$ 31,115

Style

Lot Size

0.147842

Year Built

1910

Town/City

Morton Grove

County/Region

Cook

MLS | Web ID

12780506

Features
General
Cooling None
Zoning COMMR
Construction Materials Vinyl Siding
Year Built 1910
Electric Circuit Breakers Separate Meters
Stories Count 2
Township Niles
Property Subtype Mixed Use
Tax Year 2025
Gross Income 0
Additional Parcels Description 10201140500000
County Cook
Insurance Expense 0
Property Type Commercial Sale Mixed Use
Status New
Directions Dempster to Fernald Ave South to Property.
City Morton Grove
Number Of Units Total 8
MLS Area Morton Grove
Lot Size Square Feet 6440
Tax Annual Amount 31115.32
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N Y
Standard Status Active
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Exterior
Building Area Total 5288
Lot Dimensions 95.3x118x57.5x87.8
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* Excluded Features
List By
Compass

Broker

tim@themlpg.com;info@themlpg.com

Email

Affordability Calculator

$6,219
Per Month
58%
42%
0%
Monthly Principal & Interest
$3,626
Monthly Property Taxes
$2,593
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/12/2026$525,000 Listed Price

Map


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8503-8509 Fernald Avenue, Morton Grove, IL, 60053 is a Commercial Property for sale at $525,000 with 5,288 sqft and a lot size of 0.147842. 8503-8509 Fernald Avenue was built in 1910. The property's zip code is 60053 which is in Morton Grove, IL