Address
8 W Burlington Avenue, La Grange, IL
Price
$ 3,500,000
Property Attributes
  • MLS#11945223
  • TypeMulti-Family
  • CountyCOOK
  • CityLa Grange
  • AreaLa Grange
  • Zip60525
  • Style
  • Year Built1904
  • Taxes$ 30216
  • Price$ 3,500,000
  • Bedrooms5
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12000
  • Lot Size0.078122 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Incredible turnkey investment property featuring 6 luxury apartments + 5,000+ sqft ground floor retail space that is currently leased to an upscale home furnishings store (2,580sf retail space + full basement storage). The building is in a prime location in La Grange's Downtown Central Business District across the street from the Metra station and in close proximity to restaurants, bars, coffee shops, and retail. The area gets heavy foot traffic from the train station and nearby businesses and has high visibility from La Grange Rd. Completely rebuilt in 2015, the apartments feature high-end condo quality finishes including Hardwood white oak flooring, Italian cabinetry, quartz countertops, Bosch appliances, in-unit W/D, & custom closets. Each unit has its own mechanicals and pays for their own heat, AC, and gas. Parking conveniently located in public lot at the west end of the block. Overnight permits are $45/month for 1st car, $65/month for 2nd car, and $20/month for daytime parking for retail store.

Price History
12/14/2023 Listed $3,750,000
4/24/2024 7% - $3,500,000

General Features

Cooling Central Air
Utilities Water-Municipal,Cable Available
Zoning MULTI
Construction Materials Brick
Year Built 1904
Tenant Pays Air Conditioning,Electricity,Heat,Hot Water
Stories 3
Tax Year 2022
Gross Income 279600
County Cook
Net Operating Income 230735
Operating Expense 48865
Insurance Expense 3891
Property Type Commercial Sale
MaintenanceExpense 4127
Status Active
Directions La Grange Rd to Burlington Ave,West on Burlington to property
City La Grange
NumberOfUnitsTotal 7
MLS Area La Grange
Lot Size Square Feet 3403
Street Name Burlington
Tax Annual Amount 30216
Electric Expense 1024
Trash Expense 1568
Water Sewer Expense 2621
Additional Parcels Y/N No
Days on Market 172
Standard Status Active
Property Type Multi Family 5+

Interior Features

Street Suffix Avenue
Basement Unfinished,Storage Space

Exterior Features

Building Area Total 12000
Lot Dimensions 32 X 119
Exterior Limestone

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60525

Price
AVG $2.11M
$3.5M
Taxes
AVG $20,641
$30,216
Visits
AVG 349
676
Data Provided by Inside Real Estate®
Year Built
AVG 1948
1904