Address
501 W Highland Avenue Elgin, IL
Price
$ 329,000
Property Attributes
  • MLS#11270496
  • TypeMulti-Family
  • CountyKANE
  • CityElgin
  • AreaElgin
  • Zip60123
  • StyleFarmhouse
  • Taxes$ 5721
  • Price$ 329,000
  • Bedrooms4
  • Full Bathrooms4
  • Half Bathrooms0
  • Lot Size10,890 SqFt
Listing Provided Courtesy Of:
Compass
Data Source:
Midwest Real Estate Data (MRED) - 103 - IL
Property Description

GREAT INVESTMENT OPPORTUNITY OF 4K/MONTH. Historic 4 flat in the heart of downtown Elgin. Units 1 & 4 were rehabbed last year with new appliances, quartz countertops, and flooring. Three tenants are on month-to-month leases waiting for yearly leases of your choice to be put in place. Unit 4 with a lease ending in May 2022. Owner pays for water (200-250$/month) and heat (5 months out of the year) The property is professionally managed with the opportunity to continue under current local management. Walking distance to downtown Elgin with metra transportation into Union Station, shopping, and entertainment. A hidden gem for investors seeking property in a fast growing area with a rising rental market , 40 miles west of Chicago.

Elementary School Middle School High School
Highland Elementary School Kimball Middle School Larkin High School
Price History
11/15/2021 Listed $329,000

General Features

Additional Parcels Y/N No
Architectural Style Farmhouse
Basement Full
City Elgin
County Kane
Days on Market 6
Directions State St. ( RT 31) to Highland, West to Building
Elementary School Highland Elementary School
Elementary School District 46
Exterior Features Porch
Grossincome 46800
Heating Natural Gas
High School Larkin High School
High School District 46
MLS Area Elgin
Middle/Junior High School Kimball Middle School
Middle/Junior School District 46
New Construction No
Other Structures None
Ownership Fee Simple
Possession Closing
Property Type Two to Four Units
Property Type Residential Income
Roof Asphalt
Sewer Public Sewer
Standard Status Active
Status Active
Street Name Highland
Tax Annual Amount 5721.74
Tax Year 2020
Total Rooms 11
Township Elgin
Zoning MULTI

Interior Features

Basement Unfinished
Bedrooms Possible 4
Full Baths Building 4
Street Suffix Avenue
Total Baths 4
Total Bedrooms 4

Exterior Features

Exterior Aluminum Siding
Foundation Details Block, Stone
Lot Dimensions 85X120
Lot Features Corner Lot
Lot Size Acres 0.25
Parking Features Unassigned, Off Street
Total Parking 7
Water Source Public
Waterfront Y/N No

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 60123

Price
AVG $720K
$330K
Taxes
AVG $14,563
$5,721
Visits
AVG 30
11
Walkscore
AVG 59
82
Data Provided by Walkscore ® not using MLS data

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.

Areas We Cover

https://connectmls.mredllc.com/common/externalAction.jsp?do=dynaconn.soy.setup.leadwidget.SubmitLeadForm&agentID=885777