Now here is a solid investment property located in the heart of Downtown Elgin with a few key points that stand out: Desirable Location: Being in the heart of downtown Elgin makes it an attractive spot for renters due to proximity to amenities, transportation, and possibly employment opportunities. Stable Tenancy: Having long-term renters in 2 of the 3 units who wish to stay is a big plus. It suggests less turnover and potentially lower vacancy rates, both of which are good for steady income. Income Potential: The possibility of renovating the 4th unit in the basement is intriguing and would significantly increase the property's income potential. Recent Improvements: new roof, gutters, chimney rebuild, sewer line, and water heaters, add to the property's value. They reduce the likelihood of major repairs in the near future and can be appealing to both tenants and potential buyers. Upcoming City Infrastructure Improvements: The city's plan to replace lead pipes is beneficial for the property in the long run, ensuring better water quality for tenants and potentially increasing property desirability. Do not pass up a fantastic opportunity to expand your investment portfolio!
Property Map
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Property Details
Utilities
Heating Radiant
Cooling
Water Lake Michigan
Sewer Public Sewer
Additional Information
Parking
2 Garage Spaces, Garage On Site, Owned, Parking included in price
Schools
Larkin High School (46), Kimball Middle School (46), Hillcrest Elementary School (46)
Payment Calculator
Listing History
03-29-2024
Listed at $299,800
04-16-2024
Status changed to Under Contract
04-25-2024
Status changed to Active
05-08-2024
Status changed to Under Contract
Last Modified 5/8/24 7:07 AM
Nearby Transportation
Milwaukee West
0.3 mi
Hwy 20 West
1.2 mi
Hwy 20 East
1.3 mi
I 90 East
1.8 mi
I 90 West
1.9 mi
For More Information
(312) 528-9200
For more information about 220 Dexter, Elgin, IL 60120 contact Corcoran Urban Real Estate.
Broker Reciprocity
Listing provided by Fulton Grace Realty
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Urban Real Estate are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.