Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8643 Ferris Avenue Morton Grove, IL 60053

    View on Map
    Claim this Listing
    New
    For Sale
    $600,000

    MULTI_FAMILY - Morton Grove, IL

    Lot size:
    0.14 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    2
    Last Refresh:
    May 1 at 6:06 pm

    Property Features for 8643 Ferris Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bathroom 1, Bedroom 1
    Parking
    2
    Parking features
    Garage, Open
    Patio and Porch features
    Deck
    Basement
    Full, Unfinished
    Standard status
    Active
    APN
    10201020140000
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4636

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Building materials
    Vinyl Siding, Masonite
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Janet Vilchez
    Janet Vilchez

    Listing agent Janet Vilchez License #475183479

    Listing office EXIT Strategy Realty 2935 N. Clark St., Chicago, IL

    Listing date Apr 30, 2026

    MLS# 12632770 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Rehabbed Duplex in Morton Grove

    This meticulously well-maintained 2-flat, beautifully rehabbed in 2024, is located within the highly sought-after District 70/219. Both units feature stunning white shaker kitchen cabinets paired with elegant quartz countertops, offering a modern and timeless finish. Each spacious apartment offers 2 bedrooms and 1 full bathroom, with comfortable layouts perfect for owner-occupants or investors alike. The property includes a huge back deck, ideal for relaxing during sunrise and sunset, entertaining guests, and hosting family gatherings. A 2.5-car garage plus a driveway with additional parking space are also included. Conveniently commuter-friendly, the property is minutes away from the highway and close to shopping centers, restaurants, and everyday conveniences. The lot size is 0.14 acres and the property is located in Morton Grove, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.784562
    Latitude
    42.038772

    Nearby Similar for Sale

    • $1,949,000

      Morton Grove Commercial Property

      Income-producing commercial property in a high-traffic location.
      6015-6049 Dempster Street, Morton Grove, IL 60053
      View Details
    • $1,236,000

      Prime Commercial Land in Morton Grove

      High-visibility commercial land with redevelopment potential in Morton Grove, IL.
      9021 Harlem Avenue, Morton Grove, IL 60053
      View Details
    • $169,000

      Vape King Business Opportunity

      Profitable tobacco store in high-traffic Morton Grove location for sale.
      7182 Dempster Street, Morton Grove, IL 60053
      View Details
    • $3,800,000

      Red Roof Inn Near Chicago

      53-room hotel near major roads and O'Hare Airport.
      9424 Waukegan Road, Morton Grove, IL 60053
      View Details
    • $649,000
      6,959 SF

      Morton Grove Commercial Flex Property

      6,959 SF commercial property in Morton Grove for sale.
      8430 Waukegan Rd, Morton Grove, IL 60053
      View Details
    • $3,800,000

      Super 8 Hotel Near Chicago

      Budget-friendly 40-room hotel near Chicago and O'Hare Airport.
      9110 Waukegan Road, Morton Grove, IL 60053
      View Details
    • $2,590,000
      14,510 SF

      Retail Property on Dempster Street

      Retail space for sale in thriving Near North neighborhood.
      5804 Dempster St, Morton Grove, IL
      View Details
    • $2,590,000
      14,510 SF

      Dempster Street Retail and Multifamily

      24,494 SF property in a thriving commercial corridor.
      5800-5814 Dempster Street, Morton Grove, IL 60053
      View Details
    • $3,000,000
      31,000 SF

      Morton Grove Industrial Facility

      31,000 SF industrial property in North Grove Corporate Park.
      8130 River Dr, Morton Grove, IL 60053
      View Details
    • Contact for pricing
      297,681 SF

      Morton Grove Business Park Suites

      Flexible suites with shared docks in Morton Grove business park.
      6200-6388 Oakton St & 8210-8270 Lehigh Ave, Morton Grove, IL 60053
      View Details
    • Contact for pricing
      120,000 SF

      Morton Grove Industrial Facility

      Renovated 120,000 SF industrial facility with cranes and modern amenities.
      7840-60 Lehigh Avenue, Morton Grove, IL 60053
      View Details
    • $3,999,000
      37,666 SF

      Morton Grove Commercial Property For Sale

      Commercial property available for sale in Morton Grove, Illinois.
      8150 Lehigh Ave, Morton Grove, IL 60053
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained, rehabbed duplex near highway, shopping, and restaurants.
    Where is this duplex located?
    The property is located at 8643 Ferris Avenue Morton Grove, IL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Rehabbed in 2024 with modern finishes, including **white shaker kitchen cabinets and quartz countertops.**; Located in highly sought‑after District 70/219.; Each unit features 2 bedrooms and 1 full bathroom.
    (312) 493-0920
    We can help!
    Listing Contact
    Janet Vilchez
    Janet Vilchez
    Real Estate License ID: 475183479
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    8643 Ferris Avenue, Morton Grove, IL 60053

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!